JPMorgan Chase & Co. Cuts DraftKings (NASDAQ:DKNG) Price Target to $32.00

DraftKings (NASDAQ:DKNG) had its price target trimmed by JPMorgan Chase & Co. from $41.00 to $32.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Mizuho cut their target price on shares of DraftKings from $46.00 to $44.00 and set an “outperform” rating on the stock in a research note on Tuesday. Jefferies Financial Group reaffirmed a “buy” rating on shares of DraftKings in a research report on Sunday. Benchmark reduced their target price on DraftKings from $37.00 to $29.00 and set a “buy” rating on the stock in a report on Friday, February 13th. UBS Group restated a “buy” rating on shares of DraftKings in a research note on Wednesday, January 7th. Finally, Wells Fargo & Company set a $30.00 price target on DraftKings in a research report on Monday. Twenty-four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $37.89.

DraftKings Stock Performance

NASDAQ:DKNG opened at $22.49 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.03 and a debt-to-equity ratio of 2.91. The firm’s fifty day simple moving average is $31.22 and its 200 day simple moving average is $35.64. The stock has a market cap of $11.09 billion, a P/E ratio of -562.25, a price-to-earnings-growth ratio of 0.46 and a beta of 1.67. DraftKings has a twelve month low of $21.01 and a twelve month high of $50.50.

Insider Buying and Selling

In related news, Director Harry Sloan acquired 100,000 shares of the stock in a transaction on Tuesday, February 17th. The stock was acquired at an average price of $21.85 per share, for a total transaction of $2,185,000.00. Following the completion of the purchase, the director owned 350,219 shares of the company’s stock, valued at $7,652,285.15. This represents a 39.96% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R Stanton Dodge sold 52,777 shares of the business’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $32.01, for a total value of $1,689,391.77. Following the completion of the sale, the insider directly owned 500,000 shares in the company, valued at $16,005,000. This trade represents a 9.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 51.19% of the stock is owned by company insiders.

Institutional Trading of DraftKings

Institutional investors and hedge funds have recently bought and sold shares of the company. Dagco Inc. bought a new position in shares of DraftKings in the fourth quarter worth approximately $26,000. Ameriflex Group Inc. raised its holdings in DraftKings by 100.0% in the 3rd quarter. Ameriflex Group Inc. now owns 810 shares of the company’s stock worth $30,000 after acquiring an additional 405 shares during the last quarter. Root Financial Partners LLC bought a new position in DraftKings in the 3rd quarter valued at approximately $33,000. Asset Dedication LLC bought a new position in DraftKings in the 3rd quarter valued at approximately $37,000. Finally, Montag A & Associates Inc. boosted its stake in DraftKings by 82.5% during the 4th quarter. Montag A & Associates Inc. now owns 1,106 shares of the company’s stock valued at $38,000 after purchasing an additional 500 shares during the last quarter. 37.70% of the stock is currently owned by institutional investors.

DraftKings News Roundup

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Director Harry Sloan bought 100,000 shares at about $21.85, increasing his stake ~40% — a material insider purchase that can signal management confidence and support demand under the stock. Harry Sloan Acquires 100,000 Shares of DraftKings (NASDAQ:DKNG) Stock
• Positive Sentiment: Barclays reiterated a Buy, offering institutional validation that may attract buyers despite mixed Street sentiment. DraftKings (DKNG) Gets a Buy from Barclays
• Neutral Sentiment: DraftKings and FanDuel are weighing a launch in Arkansas; entry could add growth but the state’s strict revenue‑sharing model may limit near‑term margin/earnings impact. FanDuel and DraftKings eye Arkansas sports betting launch despite strict revenue-sharing model
• Negative Sentiment: Multiple brokers cut price targets after Q4 2025 results and a reduced FY2026 revenue outlook — Needham cut its PT to $35 (from $52), JPMorgan to $32, Oppenheimer to $35, Mizuho to $44 and others issued lower targets or more cautious commentary. These cuts lower near‑term upside expectations and are the main driver of today’s weakness. Needham Lowers DraftKings (DKNG) PT to $35 Following Earnings Miss, Reduced Revenue Outlook
• Negative Sentiment: Broader Street skepticism (Goldman, Citi, Truist flagged downside/pessimism) and negative commentary pieces are pressuring retail sentiment and may amplify selling into the weaker technicals (stock near its 52‑week low and below 50/200‑day averages). The Goldman Sachs Group Issues Pessimistic Forecast for DraftKings (NASDAQ:DKNG) Stock Price

DraftKings Company Profile

DraftKings Inc is a leading digital sports entertainment and gaming company specializing in daily fantasy sports, sports betting and iGaming products. The company provides an integrated platform where users can participate in daily fantasy contests, place wagers on professional sports events, and enjoy a range of online casino-style games. DraftKings’ proprietary technology supports real-time odds, live scoring and advanced analytics to enhance the user experience across mobile and desktop applications.

Founded in 2012 by co-founders Jason Robins, Matthew Kalish and Paul Liberman, DraftKings began as a daily fantasy sports provider and rapidly expanded into regulated sports betting following legislative changes in the United States.