Canaccord Genuity Cuts DraftKings (DKNG) Price Target to $40
Key Points
- Canaccord Genuity reaffirmed its Buy rating on DraftKings Inc. on October 23, 2026, while lowering its price target from $44.00 to $40.00.
- Canaccord Genuity's $40 price target implies 91.30% upside from DraftKings Inc.'s ($DKNG) current $20.91 share price.
- DraftKings recently traded around $20.91 on October 23, 2026, sitting below its 50-day moving average.
- Wall Street maintains a general consensus view on the stock with 36 analysts weighing in ahead of upcoming earnings.
Get DraftKings text alerts
We text you when insiders, Congress, analysts or big funds move on $DKNG.
By entering your mobile number and tapping the sign-up button, you provide express written consent to receive recurring automated text messages from TradeTexts at that number, including stock alerts about SEC filings, insider and congress trades, analyst ratings, hedge fund moves, and earnings results. Consent is not a condition of any purchase. Message frequency varies. Messages are not investment advice. Message and data rates may apply. Reply HELP for help and STOP to opt out at any time. See our Terms and Privacy Policy.
Not investment advice. TradeTexts is not a registered investment adviser, and this automated DraftKings Inc. alert may contain errors. Disclosures
Canaccord Genuity reaffirmed its Buy rating on DraftKings Inc. on October 23, 2026, while adjusting its price target down from $44.00 to $40.00. The firm delivered its research note on the same day the digital sports entertainment company closed at $20.91.
DKNG
DraftKings Inc.
Canaccord Genuity vs. the S&P 500
Hypothetical returns from Canaccord Genuity's disclosed trades, not real profit or advice. How we model this.
Canaccord Genuity's Call on DraftKings Inc.
In its research note, Canaccord Genuity kept its Buy rating intact while trimming the price target by $4.00 to $40.00. The update follows a string of recent adjustments across Wall Street firms covering the gambling sector.
Other Institutional Activity in DraftKings Inc.
Large funds continue to shuffle their holdings in the gaming platform. CIBC Bancorp USA Inc. grew its holdings by 25,080,270 shares, ending with 37,316,338 shares worth about $780,284,621.0. AQR Capital Management, LLC grew its holdings by 6,814,837 shares, ending with 29,668,081 shares worth about $620,359,569.0. Jupiter Topco LLC grew its holdings by 12,637,122 shares, ending with 25,274,243 shares worth about $528,484,417.0. Spruce House Investment Management LLC grew its holdings by 0 shares, ending with 9,650,000 shares worth about $201,781,498.0.
DraftKings Inc. Stock Up 1.9%
DraftKings shares recently traded around $20.91 on October 23, 2026. The stock sits below both its 50-day moving average of $22.39 and its 200-day moving average of $24.67.
$DKNG price target
DraftKings Inc. daily closes and this analyst's $40 target. Not advice.
Recent Earnings
DraftKings reported trailing twelve month revenue of $6,222,522,880.0 alongside an earnings per share of -$0.35. The company's next earnings report is scheduled for November 5, 2026.
Insider Buying and Selling at DraftKings Inc.
Company insiders have completed several transactions in recent months. Director Woodrow Levin sold 34,234 shares on May 18, 2026, for $880,156.0. Officer Erik Bradbury sold 862 shares on May 20, 2026, for $21,834.0. Officer Robert Stanton Dodge sold 62,500 shares on June 11, 2026, for $1,855,202.0. Director Jocelyn Moore sold 10,759 shares on August 19, 2026, for $258,754.0.
Analysts Set New Price Targets
Wall Street firms have actively updated their views on the stock. On October 19, 2026, Morgan Stanley maintained its Overweight rating and adjusted its target from $36.0 to $31.0. On October 19, 2026, Wells Fargo maintained its Overweight rating and adjusted its target from $29.0 to $30.0. On October 20, 2026, JP Morgan maintained its Overweight rating and adjusted its target from $33.0 to $30.0. On October 20, 2026, Truist Securities maintained its Buy rating and adjusted its target from $29.0 to $26.0. The stock currently holds a strong buy recommendation across 36 analyst opinions with a mean price target of $34.06.
About DraftKings Inc.
DraftKings Inc. operates as a digital sports entertainment and gaming provider offering online sports betting, daily fantasy sports, and online casino products to customers. The company continues to expand its reach across digital platforms as sports betting legalizations evolve.
Bottom Line
Investors will look toward the upcoming earnings release on November 5, 2026, for fresh details on revenue trends and user growth. Monitoring further institutional filings will also help clarify how major funds view the stock following recent price moves.
Related Filing Alerts
Source: Canaccord Genuity's rating change on $DKNG (Oct 23, 2026). Written by software, not financial advice. How we make alerts