DraftKings (DKNG) Stock Forecast & Price Target

$42.79 -0.21 (-0.49%)

(As of 02:21 PM ET)

DraftKings - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Moderate Buy

Based on 27 Analyst Ratings

Sell
0

Hold
3

Buy
24

Based on 27 Wall Street analysts who have issued ratings for DraftKings in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 27 analysts, 3 have given a hold rating, and 24 have given a buy rating for DKNG.

Consensus Price Target

$50.85
18.84% Upside

According to the 27 analysts' twelve-month price targets for DraftKings, the average price target is $50.85. The highest price target for DKNG is $62.00, while the lowest price target for DKNG is $35.00. The average price target represents a forecasted upside of 18.84% from the current price of $42.79.

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DKNG Analyst Ratings Over Time

Type	Current Forecast 11/27/23 to 11/26/24	1 Month Ago 10/28/23 to 10/27/24	3 Months Ago 8/29/23 to 8/28/24	1 Year Ago 11/27/22 to 11/27/23
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	24 Buy rating(s)	24 Buy rating(s)	24 Buy rating(s)	21 Buy rating(s)
Hold	3 Hold rating(s)	3 Hold rating(s)	2 Hold rating(s)	4 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	1 Sell rating(s)	3 Sell rating(s)
Consensus Price Target	$50.85	$50.22	$49.56	$35.86
Forecasted Upside	18.84% Upside	37.71% Upside	44.27% Upside	-7.47% Downside
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Moderate Buy

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DKNG Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

DKNG Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

DraftKings Stock vs. The Competition

Type	DraftKings	Consumer Discretionary Companies	S&P 500
Consensus Rating Score	2.89	2.56	2.50
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy
Predicted Upside	18.37% Upside	1,222.36% Upside	6.90% Upside
News Sentiment Rating	Positive News See Recent DKNG News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
11/12/2024	TD Cowen 4 of 5 stars		Boost Target	Buy ➝ Buy	$50.00 ➝ $55.00	+29.72%
11/11/2024	Macquarie 2 of 5 stars	C. Beynon Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Outperform ➝ Outperform	$50.00 ➝ $51.00	+20.48%
11/11/2024	Barclays 3 of 5 stars		Boost Target	Overweight ➝ Overweight	$45.00 ➝ $50.00	+20.71%
11/11/2024	JMP Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Market Outperform ➝ Market Outperform	$51.00 ➝ $52.00	+29.58%
11/8/2024	Needham & Company LLC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Buy ➝ Buy	$60.00 ➝ $60.00	+53.93%
10/22/2024	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$47.00 ➝ $48.00	+26.88%
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10/18/2024	Mizuho Subscribe to MarketBeat All Access for the recommendation accuracy rating	Jed Kelly Subscribe to MarketBeat All Access for the recommendation accuracy rating	Boost Target	Outperform ➝ Outperform	$54.00 ➝ $62.00	+64.67%
10/17/2024	Wells Fargo & Company Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$47.00 ➝ $52.00	+39.22%
10/16/2024	BMO Capital Markets Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Outperform ➝ Outperform	$48.00 ➝ $48.00	+27.80%
10/7/2024	Benchmark Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Buy ➝ Buy	$44.00 ➝ $44.00	+15.91%
10/7/2024	Susquehanna Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Positive ➝ Positive	$48.00 ➝ $50.00	+28.04%
9/26/2024	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$48.00 ➝ $54.00	+30.00%
9/10/2024	BNP Paribas Subscribe to MarketBeat All Access for the recommendation accuracy rating	A. Johnson Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Underperform ➝ Neutral	$35.00	-3.07%
9/4/2024	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$56.00 ➝ $58.00	+68.31%
8/14/2024	Truist Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Buy ➝ Buy	$50.00 ➝ $50.00	+59.03%
8/5/2024	Oppenheimer Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform ➝ Outperform	$58.00 ➝ $55.00	+72.58%
8/5/2024	Stifel Nicolaus Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Buy ➝ Buy	$50.00 ➝ $48.00	+68.36%
8/5/2024	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$60.00 ➝ $54.00	+68.64%
7/22/2024	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$54.00 ➝ $50.00	+37.44%
6/26/2024	Guggenheim Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$53.00 ➝ $52.00	+38.30%
5/31/2024	Berenberg Bank Subscribe to MarketBeat All Access for the recommendation accuracy rating	J. Cummings Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold
5/6/2024	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$52.00 ➝ $54.00	+24.42%
5/6/2024	Deutsche Bank Aktiengesellschaft Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Hold ➝ Hold	$34.00 ➝ $35.00	-19.65%
5/6/2024	BTIG Research Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$53.00 ➝ $55.00	+31.52%
3/28/2024	Moffett Nathanson Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$52.00 ➝ $55.00	+21.28%
2/15/2024	Bank Of America (Bofa) Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		$45.00 ➝ $50.00	+12.21%
2/13/2024	Piper Sandler Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Overweight ➝ Overweight	$40.00 ➝ $50.00	+14.65%
11/27/2023	Argus Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$40.00 ➝ $46.00	+17.65%
11/15/2023	Craig Hallum Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$40.00 ➝ $45.00	+21.92%
8/9/2023	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$30.00 ➝ $41.00	+29.30%
8/7/2023	Roth Mkm Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Sell ➝ Sell	$20.00 ➝ $23.00	-27.28%
6/27/2023	VNET Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Reiterates
2/21/2023	Canaccord Genuity Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy	$28.00 ➝ $30.00	+45.14%
2/9/2023	Roth Capital Subscribe to MarketBeat All Access for the recommendation accuracy rating	E. Engel Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Neutral ➝ Sell	$15.00	-15.11%
2/9/2023	MKM Partners Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Neutral ➝ Sell	$15.00	-15.11%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Tuesday at 02:54 PM ET.

Should I Buy DraftKings Stock? DKNG Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Sunday, November 24, 2024. Please send any questions or comments about these DraftKings pros and cons to contact@marketbeat.com.

DraftKings
Bull Case

Here are some ways that investors could benefit from investing in DraftKings Inc.:

DraftKings Inc. has received a consensus rating of "Moderate Buy" from analysts, indicating positive sentiment towards the stock's future performance.
The stock currently trades at $43.64, which is below the consensus target price of $50.85, suggesting potential for price appreciation.
With 24 analysts giving a buy rating, there is strong institutional confidence in the company's growth prospects.
DraftKings Inc. reported revenue of $1.10 billion in its latest earnings, demonstrating significant business activity and market presence.
Insiders own 51.19% of the company's stock, which can indicate strong alignment between management and shareholder interests.

DraftKings
Bear Case

Investors should be bearish about investing in DraftKings Inc. for these reasons:

The company reported a loss of ($0.60) earnings per share, missing analysts' expectations, which may raise concerns about profitability.
DraftKings Inc. has a negative net margin of 9.06%, indicating that the company is currently spending more than it earns, which could be a red flag for investors.
The stock has a price-to-earnings ratio of -49.59, suggesting that the company is not currently generating profits, which can deter risk-averse investors.
Recent insider selling, with over 1 million shares sold in the last ninety days, may signal a lack of confidence from those closest to the company.
The company has a debt-to-equity ratio of 1.17, indicating that it relies significantly on debt to finance its operations, which can be risky in volatile markets.

DKNG Forecast - Frequently Asked Questions

: According to the research reports of 27 Wall Street equities research analysts, the average twelve-month stock price forecast for DraftKings is $50.85, with a high forecast of $62.00 and a low forecast of $35.00.
: 27 Wall Street analysts have issued "buy," "hold," and "sell" ratings for DraftKings in the last year. There are currently 3 hold ratings and 24 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" DKNG shares.
: According to analysts, DraftKings's stock has a predicted upside of 18.84% based on their 12-month stock forecasts.
: Over the previous 90 days, DraftKings's stock had 1 upgrade by analysts.
: DraftKings has been rated by research analysts at Barclays, Benchmark, BMO Capital Markets, BNP Paribas, JMP Securities, JPMorgan Chase & Co., Macquarie, Mizuho, Morgan Stanley, Needham & Company LLC, Susquehanna, TD Cowen, UBS Group, and Wells Fargo & Company in the past 90 days.
: Analysts like DraftKings more than other "consumer discretionary" companies. The consensus rating score for DraftKings is 2.89 while the average consensus rating score for "consumer discretionary" companies is 2.56. Learn more on how DKNG compares to other companies.

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This page (NASDAQ:DKNG) was last updated on 11/26/2024 by MarketBeat.com Staff

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DraftKings (DKNG) Stock Forecast & Price Target