DraftKings (NASDAQ:DKNG) Upgraded at Bank of America

Posted by Geri Gentry on Oct 8th, 2026

Bank of America upgraded shares of DraftKings (NASDAQ:DKNG – Free Report) from a neutral rating to a buy rating in a research report released on Monday, Marketbeat reports. The firm currently has $27.00 price objective on the stock.

Other equities research analysts also recently issued research reports about the company. Northland Securities set a $28.00 price objective on DraftKings in a report on Monday, August 10th. Susquehanna reduced their target price on DraftKings from $32.00 to $31.00 and set a “positive” rating on the stock in a report on Wednesday, July 1st. Citigroup restated a “market outperform” rating on shares of DraftKings in a report on Monday, September 28th. Wall Street Zen lowered DraftKings from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings cut DraftKings from a “sell (d)” rating to a “sell (e+)” rating in a research note on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.95.

Read Our Latest Analysis on DKNG

DraftKings Price Performance

DKNG opened at $19.15 on Monday. The company has a fifty day moving average price of $23.27 and a two-hundred day moving average price of $24.12. The company has a debt-to-equity ratio of 3.22, a quick ratio of 1.02 and a current ratio of 1.02. DraftKings has a 52 week low of $18.52 and a 52 week high of $36.98. The firm has a market capitalization of $9.51 billion, a PE ratio of -50.39, a P/E/G ratio of 1.99 and a beta of 1.61.

DraftKings (NASDAQ:DKNG – Get Free Report) last issued its 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 net margin of 2.68% and a negative return on equity of 11.26%. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the previous year, the company posted $0.30 EPS. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, analysts anticipate that DraftKings will post 0.4 earnings per share for the current year.

Insider Buying and Selling

In other DraftKings news, Director Jocelyn Moore sold 10,759 shares of DraftKings stock in a transaction dated 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 directly owned 1,881 shares in the company, valued at approximately $45,238.05. The trade was a 85.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. CoreCap Advisors LLC raised its stake in shares of DraftKings by 336.5% in the 2nd quarter. CoreCap Advisors LLC now owns 1,148 shares of the company’s stock valued at $29,000 after purchasing an additional 885 shares during the period. SHP Wealth Management acquired a new position in shares of DraftKings during the fourth quarter worth about $42,000. Basecamp Wealth Advisors LLC boosted its position in shares of DraftKings by 3,547.1% during the first 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 during the period. Ascentis Independent Advisors bought a new position in shares of DraftKings during the first quarter worth about $27,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of DraftKings during the fourth quarter worth about $69,000. 37.70% of the stock is owned by institutional investors and hedge funds.

Key DraftKings News

Here are the key news stories impacting DraftKings this week:

Positive Sentiment: Bank of America upgraded DraftKings to Buy from Neutral while maintaining a $27 price target. The upgrade, along with higher targets from Citigroup and Barclays, reflects expectations that the recent selloff may have created an attractive entry point ahead of third-quarter earnings. DraftKings Stock Bank of America Upgrade
Positive Sentiment: DraftKings’ iGaming business is showing early signs of stabilization. Market share appears to be recovering, customer acquisition trends are improving, and new products could support a turnaround in an area that has recently pressured growth. DKNG iGaming Shows Signs of Recovery
Positive Sentiment: The company launched DKeX, a CFTC-regulated prediction-market exchange. DraftKings is targeting as much as $800 million in revenue from the prediction-market opportunity by 2027, giving investors a potential new growth avenue beyond traditional online sports betting. DraftKings Stacks the Deck
Neutral Sentiment: Investor attention has increased ahead of DraftKings’ expected third-quarter earnings report in early November, but heightened searches do not by themselves indicate improving fundamentals. Investors Search DraftKings
Negative Sentiment: Prediction-market expansion is also viewed as a competitive threat. The proliferation of prediction platforms may divert users and spending from DraftKings’ core sportsbook, while recent revenue weakness and the stock’s position below its major moving averages continue to weigh on sentiment. Why Is DraftKings Stock Crashing
Negative Sentiment: DraftKings fell more sharply than the broader market, indicating that investors remain focused on near-term operating risks despite the analyst upgrade and potential new revenue streams. DraftKings Suffers a Larger Drop

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.