Draftkings

DKNG · NASDAQ

$20.48+$0.71 (+3.59%)TodayMarket closed · Oct 20, 7:59 PM ET

Prev close $19.77

DKNG analyst rating

BuyConsensus of 31 analysts over the last 12 months. 90% rate it a buy.

Strong buy0
Buy28
Hold3
Underperform0
Sell0

12-month price target · 40 analysts

Average $35.09 (+71.3% upside)

Low: $20.20
Now: $20.48
High: $79.80

Upgrades and downgrades

The latest rating actions, newest first

DKNG analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
JP Morgan	Oct 20, 2026	Maintains	Overweight	$33.00 → $30.00	48%
Truist Securities	Oct 20, 2026	Maintains	Buy	$29.00 → $26.00	39%
Morgan Stanley	Oct 19, 2026	Maintains	Overweight	$36.00 → $31.00	38%
Wells Fargo	Oct 19, 2026	Maintains	Overweight	$29.00 → $30.00	33%
Citigroup	Oct 12, 2026	Maintains	Buy	$32.00 → $28.00	44%
Susquehanna	Oct 8, 2026	Maintains	Positive	$33.00 → $27.00	50%
Macquarie	Oct 7, 2026	Maintains	Outperform	$38.00 → $34.00	40%
Guggenheim	Oct 7, 2026	Maintains	Buy	$33.00 → $30.00	45%
B of A Securities	Oct 5, 2026	Upgrade	Neutral → Buy	$27.00	52%
BTIG	Oct 1, 2026	Maintains	Buy	$30.00 → $25.00	39%

The case for and against

Updated Oct 14, 2026

Bull case

DraftKings is supported by a multi-layered growth model that spans online sports betting, i-gaming, fantasy, lottery, and prediction markets, with 2025 revenue mix of 63% sports, 30% i-gaming, and 7% fantasy/lottery. Its positive outlook is strengthened by strong app downloads and MAU trends, about 1000bps stronger MAU share, 4M downloads since June, and expanding reach across most states plus about 50% of Canada’s population, all of which reinforce scale and customer acquisition efficiency. The vertical integration of DraftKings Predictions, DKeX, and internal market making should lift unit economics through higher-margin exchange and trading revenue, while gross margins are expected to expand to 60-70% and EBITDA margins can ultimately reach 50%.

Bear case

DraftKings is facing a fundamentally weaker outlook because management is prioritizing materially higher PredictionMarket investment, with net spend now modeled at about $400 million versus prior guidance of $200 million to $300 million, which is weighing on near-term profitability. The firm’s full-year EBITDA outlook has fallen to $622 million from $719 million and sits below the $700 million to $900 million guidance range, while the revised 2026 EBITDA estimate of $532 million implies a 14% decline from 2025 as promotional intensity and customer acquisition costs rise. Even with core OSB/iGaming still on track for $1.0 billion+ of EBITDA and strong usage trends, its dependence on legalization, market-access agreements, and third-party content leaves it exposed to regulatory, competitive, and execution risk.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.