Benchmark Raises DraftKings (NASDAQ:DKNG) Price Target to $30.00

DraftKings (NASDAQ:DKNG) had its target price lifted by equities researchers at Benchmark from $29.00 to $30.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s price target would indicate a potential upside of 27.20% from the company’s current price.

DKNG has been the topic of a number of other research reports. Raymond James Financial upgraded shares of DraftKings from a “market perform” rating to an “outperform” rating in a research report on Friday, April 24th. Freedom Capital upgraded DraftKings to a “strong-buy” rating in a report on Wednesday, May 20th. Susquehanna cut their target price on DraftKings from $32.00 to $31.00 and set a “positive” rating on the stock in a research note on Wednesday, July 1st. Wells Fargo & Company dropped their price objective on DraftKings from $32.00 to $29.00 and set an “overweight” rating for the company in a report on Monday, July 20th. Finally, BNP Paribas Exane assumed coverage on shares of DraftKings in a report on Thursday, May 14th. They issued an “underperform” rating and a $20.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $34.14.

DraftKings Price Performance

Shares of DKNG traded up $1.41 during midday trading on Friday, hitting $23.58. 23,235,708 shares of the company traded hands, compared to its average volume of 13,851,850. The firm has a market cap of $11.70 billion, a P/E ratio of 392.50 and a beta of 1.66. The company has a debt-to-equity ratio of 3.03, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a 50-day moving average of $25.38 and a 200-day moving average of $24.97. DraftKings has a one year low of $20.46 and a one year high of $48.78.

DraftKings (NASDAQ:DKNG) last issued its quarterly earnings results on Friday, August 7th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.07. DraftKings had a return on equity of 13.51% and a net margin of 0.93%.The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the previous year, the company posted $0.30 earnings per share. The company’s revenue was down 4.6% compared to the same quarter last year. As a group, sell-side analysts predict that DraftKings will post 0.54 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Woodrow Levin sold 34,234 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $25.71, for a total value of $880,156.14. Following the transaction, the director owned 29,820 shares in the company, valued at $766,672.20. The trade was a 53.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider R Stanton Dodge sold 62,500 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $29.68, for a total transaction of $1,855,000.00. Following the sale, the insider owned 556,258 shares of the company’s stock, valued at approximately $16,509,737.44. This represents a 10.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 97,596 shares of company stock worth $2,756,991. Insiders own 47.18% of the company’s stock.

Institutional Investors Weigh In On DraftKings

A number of institutional investors have recently made changes to their positions in DKNG. Ascentis Independent Advisors purchased a new position in shares of DraftKings in the first quarter worth $27,000. Basecamp Wealth Advisors LLC increased its stake in DraftKings by 3,547.1% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 1,240 shares of the company’s stock worth $27,000 after buying an additional 1,206 shares in the last quarter. CoreCap Advisors LLC boosted its stake in shares of DraftKings by 336.5% in the second quarter. CoreCap Advisors LLC now owns 1,148 shares of the company’s stock worth $29,000 after acquiring an additional 885 shares during the period. Montag A & Associates Inc. lifted its holdings in DraftKings by 82.5% in the 4th quarter. Montag A & Associates Inc. now owns 1,106 shares of the company’s stock worth $38,000 after purchasing an additional 500 shares in the last quarter. Finally, SHP Wealth Management purchased a new stake in DraftKings during the 4th quarter valued at approximately $42,000. Hedge funds and other institutional investors own 37.70% of the company’s stock.

DraftKings News Roundup

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Management said its Predictions business is growing faster than expected and is becoming central to DraftKings’ strategy of building a nationwide sports-commerce platform. The company sees opportunities to acquire and monetize customers through sports betting, gaming and prediction markets, with the NFL season providing a potential engagement catalyst. DraftKings’ Prediction Markets Push Is Reshaping Its National Growth Strategy
• Positive Sentiment: DraftKings reaffirmed its fiscal 2026 revenue outlook of $6.5 billion to $6.9 billion, broadly supporting investor confidence despite the quarterly revenue shortfall. Management also said the core business remains on track to generate approximately $1 billion in adjusted core profit this year, giving it flexibility to invest in Predictions. DraftKings Reports Second Quarter Results
• Neutral Sentiment: Unusually high call-option activity indicated speculative bullish positioning ahead of the report, with investors purchasing roughly 41,345 calls—about 16% above average volume. Options activity can amplify volatility but does not necessarily indicate improving fundamentals. Traders Buy High Volume of DraftKings Call Options
• Negative Sentiment: Second-quarter revenue was $1.44 billion, below the roughly $1.51 billion analyst expectation and down 4.6% year over year. DraftKings also swung to a $67.6 million net loss from $157.9 million in profit a year earlier, while promotions and unfavorable sports outcomes—including the Knicks’ title run and World Cup results—pressured results. DraftKings Second-Quarter Revenue Falls, Hurt by Promotions

About DraftKings

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.