DraftKings Gets Slew Of Price Target Cuts: Oppenheimer Highlights 'Unfavorable' September, Citi Points To Potential Headwinds Ahead

According to TheFly, Oppenheimer lowered the price target on the stock to $55 from $60, while maintaining an ‘Outperform’ rating on the stock.
In this photo illustration, the logo of DraftKings Inc. is displayed on a smartphone screen. (Photo illustration by Cheng Xin/Getty Images)
In this photo illustration, the logo of DraftKings Inc. is displayed on a smartphone screen. (Photo illustration by Cheng Xin/Getty Images)
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Rounak Jain·Stocktwits
Updated Oct 01, 2025   |   9:45 AM GMT-04
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DraftKings Inc. (DKNG) stock received a slew of price target cuts on Wednesday, as analysts examine the “make-or-break” month of September, through the first few weeks of the National Football League (NFL) season.

According to TheFly, Oppenheimer lowered the price target for the DraftKings stock to $55 from $60, while maintaining an ‘Outperform’ rating on the stock. The new price target implies a potential upside of 47% compared to the DKNG stock’s closing price on Tuesday. However, Oppenheimer noted that the threat from the “angst” in prediction markets is overstated, stating that the company’s traffic accelerated in September.

Analysts at Citi lowered their price target for the DraftKings stock to $56 from $58, while maintaining a ‘Neutral’ rating. The firm stated that DraftKings could experience headwinds from customer-friendly outcomes through the first few weeks of the NFL season.

DraftKings’ shares were down more than 1% in Wednesday’s opening trade. Retail sentiment on Stocktwits around the company trended in the ‘extremely bullish’ territory. At the time of writing, DraftKings was among the top 10 trending stocks on Stocktwits.

Analysts at Citizens JMP lowered the price target for DraftKings to $51 from $54 while maintaining an ‘Outperform’ rating on the stock. The firm noted that September, a make-or-break month for the third quarter (Q3) for sports betting companies, proved to be challenging for DraftKings. It noted that this was due to the game outcomes in the NFL so far, and that the challenging September month could also drag the actual margins of DraftKings below the expected margins for the third quarter.

In contrast, analysts at BMO Capital maintained their $65 price target and ‘Outperform’ rating for DraftKings, stating that the 11.6% decline in DKNG stock on Tuesday creates a ‘back-up-the-truck’ opportunity. The firm said that DraftKings remains well-positioned to scale up a leading prediction market over the long term.

DraftKings’ shares had plunged on Tuesday amid reports of prediction platform Kalshi setting a new trading record over the weekend, aided by sports betting during the Sunday night NFL football match between the Green Bay Packers and Dallas Cowboys.

DKNG stock is up 0.54% year-to-date, but down nearly 5% in the past 12 months.

Also See: DraftKings Stock Slides After Kalshi Sets New Trading Record Over The Weekend: Report

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