Stifel Cuts DraftKings (DKNG) Price Target to $32
Key Points
- Stifel decreased its price target for DraftKings from $36 to $32, maintaining a Buy rating.
- Stifel's $32 price target implies 54.03% upside from DraftKings Inc.'s ($DKNG) current $20.77 share price.
- The stock recently traded around $20.77, which is about equal to its closing price of $20.76 on October 26, 2026.
- DraftKings has a market cap of about $10.4 billion and is set to report its next earnings on November 5, 2026.
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On October 26, 2026, Stifel lowered its price target for DraftKings Inc. (DKNG) from $36 to $32 while keeping a Buy rating. This update came in a research note on the same day, reflecting Stifel's outlook on the company's performance amid current market conditions.
Stifel's adjustment marks a notable shift in expectations for DraftKings, which is facing challenges in the competitive gambling industry. The stock's recent trading price was around $20.77, nearly equal to its closing price of $20.76 on the same day. This price is significantly below its 52-week high of $36.98, indicating a tough environment for growth.
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DraftKings Inc.
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Other Institutional Activity in DraftKings
Several other institutional investors have been active in DraftKings recently. CIBC Bancorp USA Inc. holds 37,316,338 shares valued at approximately $774.6 million, having increased its stake by 25,080,270 shares. AQR Capital Management, LLC owns 29,668,081 shares worth about $615.8 million, having added 6,814,837 shares. Jupiter Topco LLC also increased its holdings by 12,637,122 shares, bringing its total to 25,274,243 shares valued at around $524.6 million.
DraftKings Inc. Stock Down 0.8%
As of October 26, 2026, DraftKings shares traded around $20.77, which is below its 50-day moving average of $22.30 and its 200-day moving average of $24.60. The stock is also down about 43.8% from its 52-week high, reflecting investor caution amid ongoing challenges in the sector.
$DKNG price target
DraftKings Inc. daily closes and this analyst's $32 target. Not advice.
Recent Earnings
DraftKings reported trailing twelve-month revenue of $6.22 billion, with a net margin of -2.7% and a return on equity of -21.1%. The company is set to announce its next earnings on November 5, 2026.
Insider Buying and Selling at DraftKings Inc.
In recent insider transactions, several executives sold shares of DraftKings. Director Woodrow Levin sold 34,234 shares at an average price of $25.71 on May 18, 2026, totaling about $880,156. Officer Erik Bradbury sold 862 shares for $21,834 on May 20, 2026, and Officer Robert Stanton Dodge sold 62,500 shares on June 11, 2026, valued at approximately $1.86 million. Director Jocelyn Moore sold 10,759 shares at $24.05 on August 19, 2026, totaling $258,754.
Analysts Set New Price Targets
On October 26, 2026, Stifel maintained a Buy rating on DraftKings while lowering its price target to $32 from $36. Earlier, on October 20, 2026, both JP Morgan and Truist Securities also maintained their Overweight and Buy ratings, respectively, with targets of $30 and $26. The consensus price target among analysts is around $33.95, with 36 analyst opinions contributing to this figure.
About DraftKings
DraftKings Inc. is a digital sports entertainment and gaming company that provides online and retail sports betting, daily fantasy sports, and iGaming products. Its services are available in the United States and internationally, aiming to capitalize on the growing popularity of sports betting and online gaming.
Bottom Line
Investors should pay attention to DraftKings' upcoming earnings report on November 5, 2026, as it may provide further insights into the company's performance. With Stifel's recent price target adjustment, the market will be watching how DraftKings adapts to the changing landscape in the gambling industry.
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Source: Stifel's rating change on $DKNG (Oct 26, 2026). Written by software, not financial advice. How we make alerts