TLDR BTIG Research cut its price target on DraftKings (DKNG) from $37 to $35, while keeping a “buy” rating The stock is down roughly 35% year to date and trades around $22.89–$22.94 DraftKings is expected to lay off a portion of its workforce as it shifts focus from growth to profitability Revenue grew 27% in 2025 to $6.05 billion, but growth is expected to slow to around 11% in 2026 Insiders have sold over $3.6 million worth of stock in the past 90 days
DraftKings (DKNG) is having a rough 2026 so far. The stock is down about 35% year to date and is sitting near its 12-month low of $21.01.
DraftKings Inc., DKNG
On Thursday, BTIG Research trimmed its price target on DKNG from $37 to $35. The firm kept its “buy” rating, and that target still implies upside of over 52% from current prices.
BTIG wasn’t alone. Barclays also cut its target, from $44 to $37, while keeping an “overweight” rating. Deutsche Bank set a target of $26, and Berenberg Bank came in at $26.40.
On the more optimistic side, Citizens reiterated a market-outperform rating and set a price target of $38, implying upside of around 72% from where the stock was trading.
The consensus among 31 analysts is a “Moderate Buy,” with an average price target of $36.76. That’s a wide gap from the current price near $22.89.
The stock opened Thursday at $22.94. Its 50-day moving average sits at $30.21, and its 200-day moving average is at $34.95 — both well above where it’s trading now.
Workforce Cuts on the Way
DraftKings is expected to move forward with layoffs as part of a broader restructuring effort. Citizens analysts estimated the cuts would fall at the lower end of the 2%