StreetInsider.com News Articles

DraftKings stock faces headwinds as Susquehanna cites weak hold

Mon, 12 Oct 2026 06:27:30 -0400

Investing.com - DraftKings stock (NASDAQ:DKNG) and other online sports betting operators face unfavorable conditions after Week 5 of the NFL season and Week 6 of college football, according to Susquehanna's proprietary model tracking bookmaker performance.

The firm's model, which accounts for NFL games from Monday Night Football through Sunday Night Football and college football games from Wednesday through Saturday, estimates unfavorable hold for bookmakers during the week ending Sunday night. Hold refers to the percentage of wagers that bookmakers retain as revenue after paying out winning bets.

The weak performance in the most recent week means October month-to-date hold is unfavorable, following

DraftKings stock faces headwinds as Susquehanna cites weak hold

Mon, 12 Oct 2026 06:27:30 -0400

The weak performance in the most recent week means October month-to-date hold is unfavorable, following

DraftKings Inc. (DKNG) PT Lowered to $27 at Susquehanna

Thu, 08 Oct 2026 06:19:50 -0400

Susquehanna analyst Joseph Stauff lowered the price target on DraftKings Inc. (NASDAQ: DKNG) to $27.00 (from $33.00) while maintaining a Positive rating.

The analyst comments "Within a challenging market backdrop where consumer discretionary ETFs are down ~7% YTD, DKNG's (44%) YTD reflects: 1) a 3x+ higher implied-vol of 64 (vs. XLY's 20), which equates to a 3.1 market-implied beta for DKNG vs. XLY; 2) software multiples in transition; and 3) company/ industry-specific headwinds from continued hypercompetition (new competitive entrant like PMs = higher spend to defend = fear of lower TAM and deferred profitability). Without new state launches to offset (only

DraftKings Inc. (DKNG) PT Lowered to $27 at Susquehanna

Thu, 08 Oct 2026 06:19:50 -0400

Susquehanna analyst Joseph Stauff lowered the price target on DraftKings Inc. (NASDAQ: DKNG) to $27.00 (from $33.00) while maintaining a Positive rating.

DraftKings Inc. (DKNG) PT Lowered to $30 at Guggenheim

Wed, 07 Oct 2026 06:07:52 -0400

Guggenheim analyst Curry Baker lowered the price target on DraftKings Inc. (NASDAQ: DKNG) to $30.00 (from $33.00) while maintaining a Buy rating.

The analyst comments "Key Message: We are updating our model for 3Q26 primarily on additional Prediction Market investment (we now assume net investment is ~$400mm, up from management's prior outlook of $200mm-$300mm). Our updated model layers the incremental investment spending evenly across 3Q and 4Q, though we believe aggregate investment spending remains weighted to 3Q in 2H26. We expect the company to frame the elevated Prediction spend this year as a pull-forward from next year based on strong customer

DraftKings Inc. (DKNG) PT Lowered to $30 at Guggenheim

Wed, 07 Oct 2026 06:07:52 -0400

Guggenheim analyst Curry Baker lowered the price target on DraftKings Inc. (NASDAQ: DKNG) to $30.00 (from $33.00) while maintaining a Buy rating.

DraftKings stock surges 5%: BofA upgrades to Buy on prediction markets

Mon, 05 Oct 2026 08:13:51 -0400

Investing.com -- Shares of DraftKings (DKNG) climbed 5% following an upgrade from Bank of America, which shifted its rating on the sports betting giant from Neutral to Buy. Analyst Julie Hoover maintained a $27 price objective for the stock, signaling a potential 45% upside and calling the recent 47% year-over-year pullback an attractive entry point for investors.

The upgrade marks a shift in Wall Street sentiment for DraftKings, which has faced significant pressure over the past year due to uncertain investments in prediction markets (PMs) and a string of unfavorable NFL outcomes. According to Hoover, those

DraftKings stock surges 5%: BofA upgrades to Buy on prediction markets

Mon, 05 Oct 2026 08:13:51 -0400

BofA Securities Upgrades DraftKings Inc. (DKNG) to Buy

Mon, 05 Oct 2026 06:05:33 -0400

BofA Securities analyst Shaun Kelley upgraded DraftKings Inc. (NASDAQ: DKNG) from Neutral to Buy with a price target of $27.00.

The analyst comments "We are upgrading shares of DraftKings (ticker: DKNG) to Buy from Neutral, and our price objective of $27 is unchanged. Why now? We have been on the sidelines for DKNG for the past year given a challenging event path from prediction markets (PM) and material estimate risk. Now we see 1) PMs as a win-win, 2) less cannibalization risk, 3) bottoming Street ests., and 4) a favorable risk reward with the stock down -47% in the past year."

For

BofA Securities Upgrades DraftKings Inc. (DKNG) to Buy

Mon, 05 Oct 2026 06:05:33 -0400

BofA Securities analyst Shaun Kelley upgraded DraftKings Inc. (NASDAQ: DKNG) from Neutral to Buy with a price target of $27.00.

For

BofA Securities Upgrades DraftKings Inc. (DKNG) to Buy

Mon, 05 Oct 2026 06:05:33 -0400

BofA Securities analyst Shaun Kelley upgraded DraftKings Inc. (NASDAQ: DKNG) from Neutral to Buy with a price target of $27.00.

For

BofA Securities Upgrades DraftKings Inc. (DKNG) to Buy

Mon, 05 Oct 2026 06:05:33 -0400

BofA Securities analyst Shaun Kelley upgraded DraftKings Inc. (NASDAQ: DKNG) from Neutral to Buy with a price target of $27.00.

For

UBS reiterates buy rating on DraftKings with $48 target

Mon, 05 Oct 2026 05:38:12 -0400

UBS analyst Robin Farley reiterated a Buy rating and a $48.00 price target on DraftKings Inc. (NASDAQ: DKNG).

Farley noted that DraftKings handle growth was down 2% year-over-year, compared to a 5% decline the prior week, while gross gaming revenue hold rate fell 240 basis points year-over-year to 9.2% from 11.6%, though it rose 240 basis points from the previous week's 6.8%.

The analyst said that while New York state online sportsbook revenues indicate low hold in the first three weeks of the NFL season, New York hold is not considered indicative of DraftKings' overall hold performance. DraftKings GGR growth was down

Form 4 DraftKings Inc. For: Oct 01 Filed by: Dodge R Stanton

Fri, 02 Oct 2026 19:01:00 -0400

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DraftKings (DKNG) Reiterated at Market Outperform by Citizens Post Global Gaming Expo

Fri, 02 Oct 2026 04:24:53 -0400

Citizens analyst Jordan Bender reiterated a Market Outperform rating and $35.00 price target on DraftKings Inc. (NASDAQ: DKNG).

The analyst commented, "The company again noted that sports betting handle (+15% month-to-date) and prediction market volume (2.5x July levels) appear to be tracking ahead of expectations, iGaming is beginning to recover following market share losses of ~300 bps over the last two years, while game outcomes are in line with expectations for the NFL in 3Q. We spent the most time discussing the CEO’s comments last week around making a “meaningfully greater investment” to acquire prediction market customers following a strong start

DraftKings (DKNG) Reiterated at Buy by Stifel as OSB Handle Rises +15% Y/Y in First 2 Weeks of NFL

Tue, 29 Sep 2026 07:36:30 -0400

Stifel analyst Jeffrey Stantial reiterated a Buy rating and $36.00 price target on DraftKings Inc. (NASDAQ: DKNG).

The analyst commented, "DKNG pointed to their recent commentary at a competitor conference indicating that DraftKings' OSB handle (ex-predictions) was up +15% Y/Y for the first 2 weeks of NFL. DKNG cautioned against over-extrapolating only two weeks of data, though believes underlying trends have improved relative to pre-WC which they attributed to 1) retention and cross-sell of users acquired during WC, 2) more engaging NFL content, and 3) marketing halo effect from PM spend driving greater overall consumer awareness. Notably, handle growth is despite

DraftKings Named Exclusive Sportsbook and Online Casino Integration Sponsor of NHL on Prime’s Wednesday Night Hockey for the 2026-27 Season

Mon, 28 Sep 2026 16:15:00 -0400

Exclusive sponsorship expands DraftKings’ presence in Canada throughout the NHL season

TORONTO--(BUSINESS WIRE)-- DraftKings Inc. (Nasdaq: DKNG) today announced an agreement with Prime Video that will make DraftKings the exclusive Sportsbook and Online Casino Integration sponsor of NHL on Prime. This includes integrations on Wednesday Night Hockey throughout the 2026-27 NHL season, plus select Stanley Cup playoff coverage on Prime Video.

“Canada remains an important part of DraftKings’ continued growth, and this exclusive deal with Prime Video creates an exciting new way to connect with hockey fans throughout the season,” said Stephanie Sherman, Chief Marketing Officer at DraftKings.

DraftKings Named Exclusive Sportsbook and Online Casino Integration Sponsor of NHL on Prime’s Wednesday Night Hockey for the 2026-27 Season

Mon, 28 Sep 2026 16:15:00 -0400

Exclusive sponsorship expands DraftKings’ presence in Canada throughout the NHL season

DraftKings (DKNG) Reiterated at Market Outperform by Citizens

Mon, 28 Sep 2026 04:44:40 -0400

Citizens analyst Jordan Bender reiterated a Market Outperform rating and $35.00 price target on DraftKings Inc. (NASDAQ: DKNG).

The analyst commented, "We tracked odds and implied vig (operator pricing) across the Week 3 NFL slate for FanDuel (FLUT, MO, $145 PT), DraftKings (DKNG, MO, $35), and Kalshi, covering moneyline bets and over/under markets (30 data points). We tracked pre-game pricing on Friday (9/25) afternoon, with Kalshi essentially offering the same implied vig as FanDuel and 3% better odds than DraftKings across these games. DraftKings: Week 3 implied pricing was 4.52%, compared with its average this season of 4.51%. "

For an analyst

DraftKings replaces BDO with Deloitte as its auditor for fiscal 2027

Fri, 25 Sep 2026 16:21:07 -0400

DraftKings Inc. (NASDAQ: DKNG) has appointed Deloitte & Touche LLP as its independent registered public accounting firm for the fiscal year ending December 31, 2027, replacing BDO USA, P.C., according to a regulatory filing.

The company's Audit Committee dismissed BDO on September 23, 2026, following an evaluation process. BDO's dismissal will take effect after it completes the audit of DraftKings' financial statements for the fiscal year ending December 31, 2026, and after the company files its 2026 Annual Report on Form 10-K.

Deloitte's engagement letter was executed on September 25, 2026, following completion of its standard client acceptance procedures.

BDO's audit reports for

Form 8-K DraftKings Inc. For: Sep 25

Fri, 25 Sep 2026 16:07:00 -0400

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StoneX Reiterates Buy Rating on DraftKings Inc. (DKNG)

Thu, 24 Sep 2026 09:03:41 -0400

StoneX analyst Michael Hickey reiterated a Buy rating and $30.00 price target on DraftKings Inc. (NASDAQ: DKNG).

The analyst commented, "We reduce our 2026 AEBITDA estimate to $575M from $675M. The reduction reflects our expectation that DraftKings’ Predictions AEBITDA investment will exceed $400M, above its original $200M-$300M outlook. Importantly, we see no evidence of a material 3Q sports-outcome or hold issue. DraftKings reported 15% YoY sportsbook handle growth through the first two NFL weeks, parlay mix increased 300 basis points and no unfavorable outcomes were identified as a quarterly headwind. We view the estimate reduction as investment-driven, not evidence of weakness

DraftKings Inc. (DKNG) PT Lowered to $35 at Citizens on Incremental Investment Plans

Thu, 24 Sep 2026 04:15:18 -0400

Citizens analyst Jordan Bender lowered the price target on DraftKings Inc. (NASDAQ: DKNG) to $35.00 (from $37.00) while maintaining a Market Outperform rating.

The analyst commented, "At a conference this week, DraftKings CEO made notable comments around current operating trends and the outlook for the year. Sports betting handle (+15% so far month-to-date) and prediction market volume (2.5x July volume) appear to be tracking ahead of expectations, while iGaming is beginning to see a recovery following market share losses of ~300 bps over the last two years. Clearly, the company was laying out the notable puts and takes ahead of Global

DraftKings Inc. (DKNG) PT Lowered to $35 at Citizens on Incremental Investment Plans

Thu, 24 Sep 2026 04:15:18 -0400

Citizens analyst Jordan Bender lowered the price target on DraftKings Inc. (NASDAQ: DKNG) to $35.00 (from $37.00) while maintaining a Market Outperform rating.

Needham's NFL Week 2 Recap

Mon, 21 Sep 2026 10:14:54 -0400

Needham's NFL Week 2 Recap.

The analyst comments "Week 2 Hold Estimate: Overall, we estimate it was an in-line week for the sportsbooks with favorable results on Sunday, especially during the 1pm slate, outweighing the headwinds from Thursday.

Week 1 Recap: We thought Week 1 hold would be moderately below average for week 1 given game results and player props. NY hold of 2.85% was the 8th lowest week in the state's history, and the 3rd lowest during the NFL season. Shares of DKNG and FLUT sold off last Thursday when the NY data was released given the poor results, however, as