DraftKings (NASDAQ:DKNG) Price Target Raised to $30.00 at BTIG Research

Key Points

• BTIG Research raised its price target on DraftKings to $30 (from $28) and kept a "buy" rating, implying about an 18.95% upside; the Street consensus is a "Moderate Buy" with an average target of $34.66.
• DraftKings reported Q1 revenue of $1.65 billion (beat $1.63B) and revenue growth of 16.8% YoY, but EPS of $0.20 missed estimates ($0.22); the company swung to a quarterly profit while issuing conservative full‑year guidance, producing mixed market reactions.
• Notable insider activity: Director Harry Sloan bought 100,000 shares at ~$21.85, while insiders have sold ~496,718 shares in the last 90 days; insiders own roughly 47% of the company.

DraftKings (NASDAQ:DKNG - Get Free Report) had its price objective upped by stock analysts at BTIG Research from $28.00 to $30.00 in a research report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. BTIG Research's target price indicates a potential upside of 18.95% from the stock's current price.

Other research analysts have also recently issued reports about the company. HSBC upgraded DraftKings from a "hold" rating to a "hold" rating in a research note on Friday, April 24th. Citizens Jmp reduced their price objective on DraftKings from $38.00 to $34.00 and set a "market outperform" rating for the company in a research note on Wednesday, April 1st. Raymond James Financial upgraded DraftKings from a "market perform" rating to an "outperform" rating in a research note on Friday, April 24th. Morgan Stanley reduced their price objective on DraftKings from $53.00 to $40.00 and set an "overweight" rating for the company in a research note on Tuesday, February 24th. Finally, Canaccord Genuity Group reduced their price objective on DraftKings from $50.00 to $44.00 and set a "buy" rating for the company in a research note on Friday, February 13th. Twenty-seven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $34.66.

DraftKings Stock Up 5.4%

Shares of NASDAQ DKNG opened at $25.22 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.91. The stock has a market capitalization of $12.50 billion, a PE ratio of -630.50, a price-to-earnings-growth ratio of 1.13 and a beta of 1.67. The stock's fifty day simple moving average is $23.56 and its two-hundred day simple moving average is $28.48. DraftKings has a 12-month low of $20.46 and a 12-month high of $48.78.

DraftKings (NASDAQ:DKNG - Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.22 by ($0.02). The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.63 billion. DraftKings had a return on equity of 5.36% and a net margin of 0.06%.The firm's revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.07) EPS. As a group, analysts expect that DraftKings will post 0.55 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Jocelyn Moore sold 2,150 shares of the company's stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $25.60, for a total value of $55,040.00. Following the completion of the transaction, the director owned 1,406 shares of the company's stock, valued at approximately $35,993.60. This represents a 60.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Harry Sloan purchased 100,000 shares of DraftKings stock in a transaction that occurred on Tuesday, February 17th. The stock was acquired at an average cost of $21.85 per share, with a total value of $2,185,000.00. Following the acquisition, the director directly owned 350,219 shares in the company, valued at $7,652,285.15. This trade represents a 39.96% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold 496,718 shares of company stock worth $12,477,308 in the last 90 days. 47.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On DraftKings

Large investors have recently bought and sold shares of the business. Dagco Inc. acquired a new position in DraftKings in the 4th quarter worth about $26,000. Ascentis Independent Advisors acquired a new position in DraftKings in the 1st quarter worth about $27,000. 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 purchasing an additional 405 shares during the period. Root Financial Partners LLC acquired a new position in DraftKings in the 3rd quarter worth about $33,000. Finally, Asset Dedication LLC acquired a new position in DraftKings in the 3rd quarter worth about $37,000. Institutional investors and hedge funds own 37.70% of the company's stock.

Key Headlines Impacting DraftKings

Here are the key news stories impacting DraftKings this week:

• Positive Sentiment: Company swung to a quarterly profit and revenue grew ~16.8% year-over-year, a sign margins are improving and top-line momentum continues. This underpins investor optimism about earnings leverage. DraftKings Swings to First-Quarter Profit on Better Sportsbook Margins
• Positive Sentiment: Management pushed the narrative of a broader "Super App" (sportsbook + predictions + market-making), and analysts note Predictions/market‑making integration could justify higher future marketing spend and revenue mix improvement. That strategic potential is boosting sentiment. DraftKings tops Q1 expectations, points to its Super App potential
• Positive Sentiment: Company provided detailed investor materials (press release and slide deck) showing KPIs and customer engagement trends, which helped some investors focus on trajectory rather than a single-line miss. View Press Release / Slide Deck
• Neutral Sentiment: Top-line slightly beat consensus ($1.65B vs $1.63B) — a marginal beat that supports growth claims but is not a clear game-changer on its own. DraftKings Reports First Quarter Revenue of $1,646 Million
• Negative Sentiment: EPS missed consensus ($0.20 vs. $0.22), which is a near-term disappointment for earnings-focused holders and contributed to some sell-the-news reaction. DraftKings (DKNG) Q1 Earnings Lag Estimates
• Negative Sentiment: Full‑year guidance (revenue range ~$6.5B–$6.9B) was presented as below some analyst views, and management kept guidance conservative — a key reason some traders sold after-hours. DraftKings beats profit estimates but guides below views
• Negative Sentiment: Mixed analyst takeaways and modest after-hours weakness highlight that the quarter is seen as mixed: profitable and product-progressing, but not a clean beat across all metrics. DraftKings (DKNG) Q1 Earnings Lag Estimates

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.

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