DraftKings (NASDAQ:DKNG) Stock Rating Raised to Buy at Bank of America

Posted by Brenda Bartman on Oct 8th, 2026

DraftKings (NASDAQ:DKNG – Get Free Report) was upgraded by equities research analysts at Bank of America from a “neutral” rating to a “buy” rating in a research report issued on Monday, MarketBeat Ratings reports. The firm currently has a $27.00 target price on the stock. Bank of America‘s price objective would suggest a potential upside of 37.61% from the stock’s previous close.

Several other research firms have also issued reports on DKNG. Wolfe Research assumed coverage on DraftKings in a research note on Wednesday, September 2nd. They set an “outperform” rating and a $40.00 target price on the stock. Weiss Ratings lowered DraftKings from a “sell (d)” rating to a “sell (e+)” rating in a research note on Friday, August 21st. Wall Street Zen lowered DraftKings from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Guggenheim decreased their price target on shares of DraftKings from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Monday, August 10th. Finally, Northland Securities set a $28.00 price target on shares of DraftKings in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.83.

Get Our Latest Stock Analysis on DKNG

DraftKings Stock Performance

Shares of DraftKings stock opened at $19.62 on Monday. DraftKings has a 52 week low of $18.52 and a 52 week high of $36.98. The business’s fifty day simple moving average is $23.27 and its 200-day simple moving average is $24.12. The firm has a market cap of $9.74 billion, a PE ratio of -51.51, a price-to-earnings-growth ratio of 1.99 and a beta of 1.61. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 3.22.

DraftKings (NASDAQ:DKNG – Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.02 by $0.07. DraftKings had a negative return on equity of 11.26% and a negative net margin of 2.68%.The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the prior year, the company posted $0.30 EPS. The company’s quarterly revenue was down 4.6% on a year-over-year basis. Equities analysts forecast that DraftKings will post 0.4 earnings per share for the current year.

Insider Activity at DraftKings

In related news, Director Jocelyn Moore sold 10,759 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $24.05, for a total transaction of $258,753.95. Following the transaction, the director owned 1,881 shares in the company, valued at $45,238.05. This trade represents a 85.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 47.18% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC grew its stake in DraftKings by 50.8% during the 4th quarter. Janus Henderson Group PLC now owns 25,313,909 shares of the company’s stock worth $858,893,000 after buying an additional 8,524,923 shares during the last quarter. Capital World Investors grew its stake in DraftKings by 181.4% during the 4th quarter. Capital World Investors now owns 18,626,429 shares of the company’s stock worth $641,867,000 after buying an additional 12,008,357 shares during the last quarter. Eminence Capital LP grew its stake in DraftKings by 34.3% during the 4th quarter. Eminence Capital LP now owns 8,426,755 shares of the company’s stock worth $290,386,000 after buying an additional 2,151,892 shares during the last quarter. Capital Research Global Investors grew its stake in DraftKings by 55.9% during the 4th quarter. Capital Research Global Investors now owns 6,615,721 shares of the company’s stock worth $227,978,000 after buying an additional 2,372,520 shares during the last quarter. Finally, Spruce House Investment Management LLC grew its stake in DraftKings by 129.6% during the 1st quarter. Spruce House Investment Management LLC now owns 9,650,000 shares of the company’s stock worth $208,633,000 after buying an additional 5,446,166 shares during the last quarter. Hedge funds and other institutional investors own 37.70% of the company’s stock.

About DraftKings

(Get Free Report)

DraftKings Inc is a digital sports entertainment and gaming company that provides online sports betting, daily fantasy sports and internet-based casino gaming. Its products are delivered through mobile applications and websites, allowing customers to wager on professional and collegiate sports, participate in fantasy contests and play a range of casino games where permitted by law.

The company also offers sports and betting-related content through DraftKings Network and operates additional gaming and entertainment products, including online lottery services in select markets.