DraftKings (NASDAQ:DKNG) Stock Price Up 10.7% – Here’s Why

Posted by Brian Himes on Jun 9th, 2026

DraftKings Inc. (NASDAQ:DKNG – Get Free Report) shares rose 10.7% on Tuesday . The company traded as high as $27.58 and last traded at $27.4430. Approximately 4,217,692 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 14,022,433 shares. The stock had previously closed at $24.78.

Analyst Upgrades and Downgrades

DKNG has been the topic of a number of analyst reports. New Street Research set a $29.00 price target on DraftKings in a research note on Monday, June 1st. Benchmark restated a “buy” rating on shares of DraftKings in a research report on Monday, June 1st. Oppenheimer decreased their price objective on DraftKings from $50.00 to $35.00 and set an “outperform” rating for the company in a research report on Tuesday, February 17th. Berenberg Bank set a $26.40 price target on DraftKings in a report on Tuesday, February 24th. Finally, Raymond James Financial upgraded DraftKings from a “market perform” rating to an “outperform” rating in a report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $34.21.

View Our Latest Report on DraftKings

DraftKings Trading Up 9.1%

The company has a fifty day moving average of $23.87 and a two-hundred day moving average of $27.57. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 3.03. The stock has a market capitalization of $13.42 billion, a price-to-earnings ratio of 451.70 and a beta of 1.66.

DraftKings (NASDAQ:DKNG – Get Free Report) last posted its earnings results on Friday, May 8th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.02). DraftKings had a return on equity of 13.51% and a net margin of 0.93%.The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.63 billion. During the same quarter last year, the firm posted ($0.07) earnings per share. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. On average, research analysts expect that DraftKings Inc. will post 0.6 EPS for the current year.

Insiders Place Their Bets

In other DraftKings news, Director Woodrow Levin sold 34,234 shares of DraftKings stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $25.71, for a total value of $880,156.14. Following the transaction, the director directly owned 29,820 shares of the company’s stock, valued at $766,672.20. The trade was a 53.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jocelyn Moore sold 2,150 shares of DraftKings stock in a transaction that occurred on 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 directly owned 1,406 shares in the company, valued at approximately $35,993.60. This represents a 60.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 521,663 shares of company stock valued at $13,144,962 in the last three months. Company insiders own 47.18% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. IHT Wealth Management LLC boosted its stake in DraftKings by 4.1% during the second quarter. IHT Wealth Management LLC now owns 6,271 shares of the company’s stock worth $269,000 after buying an additional 248 shares in the last quarter. Orion Porfolio Solutions LLC raised its stake in shares of DraftKings by 3.1% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 10,608 shares of the company’s stock valued at $397,000 after buying an additional 321 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in shares of DraftKings by 3.8% during the 4th quarter. Global Retirement Partners LLC now owns 10,365 shares of the company’s stock worth $357,000 after acquiring an additional 379 shares during the period. Ameriflex Group Inc. boosted its position in shares of DraftKings by 100.0% during the 3rd quarter. Ameriflex Group Inc. now owns 810 shares of the company’s stock valued at $30,000 after acquiring an additional 405 shares in the last quarter. Finally, Centaurus Financial Inc. increased its stake in DraftKings by 4.1% in the third quarter. Centaurus Financial Inc. now owns 10,511 shares of the company’s stock valued at $393,000 after acquiring an additional 410 shares during the period. 37.70% of the stock is owned by institutional investors.

DraftKings Company Profile

(Get Free Report)

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.