JPMorgan Chase & Co. Has Lowered Expectations for DraftKings (NASDAQ:DKNG) Stock Price

Posted by Stanley Muller on Oct 20th, 2026

DraftKings (NASDAQ:DKNG – Get Free Report) had its target price dropped by investment analysts at JPMorgan Chase & Co. from $33.00 to $30.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 48.99% from the company’s previous close.

DKNG has been the topic of several other research reports. Moffett Nathanson dropped their target price on shares of DraftKings from $27.00 to $25.00 in a report on Wednesday, July 15th. Benchmark lifted their target price on shares of DraftKings from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Needham & Company LLC reiterated a “buy” rating and set a $35.00 target price on shares of DraftKings in a research note on Friday, September 18th. UBS Group lowered their price target on DraftKings from $49.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, September 18th. Finally, Susquehanna lowered their price target on DraftKings from $33.00 to $27.00 and set a “positive” rating on the stock in a report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, thirty have assigned a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $33.39.

View Our Latest Research Report on DKNG

DraftKings Stock Performance

NASDAQ DKNG traded up $0.36 during trading hours on Tuesday, hitting $20.14. The company’s stock had a trading volume of 5,840,790 shares, compared to its average volume of 13,557,079. The company has a debt-to-equity ratio of 3.22, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market cap of $10.00 billion, a P/E ratio of -52.99, a price-to-earnings-growth ratio of 1.91 and a beta of 1.61. The company’s 50 day simple moving average is $22.65 and its two-hundred day simple moving average is $23.97. DraftKings has a 12 month low of $18.35 and a 12 month high of $36.98.

DraftKings (NASDAQ:DKNG – Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter last year, the firm posted $0.30 EPS. The business’s quarterly revenue was down 4.6% compared to the same quarter last year. As a group, sell-side analysts expect that DraftKings will post 0.40 EPS for the current fiscal year.

Insider Buying and Selling at DraftKings

In other news, Director Jocelyn Moore sold 10,759 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $24.05, for a total value of $258,753.95. Following the transaction, the director owned 1,881 shares in the company, valued at $45,238.05. This represents a 85.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 47.18% of the stock is owned by company insiders.

Institutional Trading of DraftKings

Several large investors have recently added to or reduced their stakes in DKNG. Renaissance Technologies LLC purchased a new stake in shares of DraftKings during the first quarter worth about $17,660,000. Spruce House Investment Management LLC raised 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 valued at $208,633,000 after purchasing an additional 5,446,166 shares during the period. Janus Henderson Group PLC raised its stake in DraftKings by 9.3% during the 1st quarter. Janus Henderson Group PLC now owns 27,665,699 shares of the company’s stock valued at $588,288,000 after purchasing an additional 2,351,790 shares during the period. Edgestream Partners L.P. bought a new stake in DraftKings during the 1st quarter valued at approximately $4,473,000. Finally, Entropy Technologies LP purchased a new position in DraftKings in the 1st quarter worth approximately $2,669,000. 37.70% of the stock is currently owned by institutional investors.

DraftKings News Roundup

Here are the key news stories impacting DraftKings this week:

Positive Sentiment: Truist Financial lowered its DraftKings price target from $29 to $26 but maintained a Buy rating. The revised target still implies approximately 29% upside, signaling continued confidence in the company’s longer-term prospects. Benzinga analyst rating update
Positive Sentiment: DraftKings recently rebounded after Wells Fargo raised its price target, while technical buying emerged near the stock’s 52-week low. This combination has helped improve near-term investor sentiment. Why Is DraftKings Stock Surging on Monday?
Positive Sentiment: Although Morgan Stanley reduced its price target, the firm reportedly still sees substantial upside—approximately 57%—from current levels. The continued bullish outlook may be supporting the stock despite more cautious valuation assumptions. Morgan Stanley Cut Its DraftKings Target
Neutral Sentiment: CEO and co-founder Jason Robins is scheduled to participate in a fireside chat at the NEXTPredict 2026 Summit on October 22. The event could provide commentary on DraftKings’ strategy, technology and growth opportunities, but no new financial guidance was announced. DraftKings Announces Jason Robins’ Participation at NEXTPredict 2026
Negative Sentiment: DraftKings remains under pressure from broader concerns affecting online gambling, contributing to its recent decline toward 52-week lows. The stock also remains below its 50-day and 200-day moving averages, indicating persistent technical weakness. Why IREN, CIFR, DKNG Stocks Crashed to 52-Week Lows Last Week

DraftKings Company Profile

(Get Free Report)

DraftKings Inc is a digital sports entertainment and gaming company that operates online and mobile platforms for sports betting, casino gaming and daily fantasy sports. Its offerings include the DraftKings Sportsbook, DraftKings Casino and daily fantasy contests covering a range of professional and collegiate sports.

The company also provides related entertainment and media content through DraftKings Network, along with free-to-play games, promotions and other interactive products designed to complement its sports and gaming platforms.