Launch of Legal Sports Betting: Missouri will launch legal sports betting statewide on December 1, 2024, with an expected first-year handle of $3.5 billion to $4.0 billion, driven by competitive online markets and aggressive promotions from major brands.
Licensing and Market Access: The Missouri Gaming Commission will oversee up to 14 online licenses and numerous retail licenses, with major players like DraftKings, FanDuel, and BetMGM expected to lead the market, leveraging partnerships with local teams and casinos.
Key Players and Strategies: DraftKings and Circa Sports hold untethered licenses, allowing them to operate without casino partnerships, while FanDuel is anticipated to dominate market share through its national presence and innovative betting options.
Emerging Competitors: Other notable entrants include bet365, Fanatics, and Underdog Sports, each employing unique strategies such as merchandise integration and modern tech to enhance user experience in the competitive landscape.
Wall Street analysts forecast DKNG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for DKNG is 43.76 USD with a low forecast of 30.00 USD and a high forecast of 63.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
30 Analyst Rating
Wall Street analysts forecast DKNG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for DKNG is 43.76 USD with a low forecast of 30.00 USD and a high forecast of 63.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
23 Buy
7 Hold
0 Sell
Strong Buy
Current: 31.620
Low
30.00
Averages
43.76
High
63.00
Current: 31.620
Low
30.00
Averages
43.76
High
63.00
JPMorgan
Overweight -> NULL
downgrade
$42 -> $41
2026-01-23
New
Reason
JPMorgan
Price Target
$42 -> $41
AI Analysis
2026-01-23
New
downgrade
Overweight -> NULL
Reason
JPMorgan lowered the firm's price target on DraftKings to $41 from $42 and keeps an Overweight rating on the shares. The firm adjusted targets in the gaming space as part of a Q4 earnings preview. Gaming stocks "are carrying a lot of baggage and negativity," so investors should be selective, the analyst tells investors in a research note. JPMorgan believes digital is the segment with the greatest opportunity for earnings beats.
Morgan Stanley
Overweight
maintain
$50 -> $53
2026-01-16
Reason
Morgan Stanley
Price Target
$50 -> $53
2026-01-16
maintain
Overweight
Reason
Morgan Stanley raised the firm's price target on DraftKings to $53 from $50 and keeps an Overweight rating on the shares. Gaming, lodging and leisure fundamentals were "muted" in 2025, with select areas of acceleration skewed to companies serving older, wealthier consumers, the analyst tells investors in a 2026 look ahead note on the group. For 2026, the firm expects "more of the same fundamentally," with the added wrinkle of rates boosting goods over services, the analyst added.
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Texas Capital
Hold
initiated
$39
2026-01-08
Reason
Texas Capital
Price Target
$39
2026-01-08
initiated
Hold
Reason
Texas Capital initiated coverage of DraftKings with a Hold rating and $39 price target. While the firm says it normally would view buying a "blue chip" online gaming stock, such as DraftKings, on its recent valuation dip as a buying opportunity, it sees outsized stock volatility in the relative near-term given the company's pure-play nature combined with recent prediction market expansion, current investor skepticism on hold and win-rate and possible online gaming tax increases in a few states, adding that the firm is "Neutral but not negative."
BofA
Shaun Kelley
Neutral
maintain
$35
2026-01-05
Reason
BofA
Shaun Kelley
Price Target
$35
2026-01-05
maintain
Neutral
Reason
BofA analyst Shaun Kelley raised the firm's price target on DraftKings to $37.50 from $35 and keeps a Neutral rating on the shares. The Gaming and Lodging group "appears to be at a crossroads" to start 2026 as the year offers easy comps, OBBB refunds and stimulus, but also still has a stretched consumer after years of inflation, the analyst tells investors. Negative estimate revisions trumped low valuations in 2024 and 2025 and the firm is "fearful this continues in 2026," the analyst added in a note on the group.
About DKNG
DraftKings Inc. is a digital sports entertainment and gaming company. It provides users with online and retail sports betting (together, Sportsbook), online casino (iGaming) and daily fantasy sports product offerings, as well as digital lottery courier, media, and other product offerings. Sportsbook is live with mobile and/or retail sports betting operations pursuant to regulations in 28 states, Washington, D.C., and in Ontario, Canada. It operates iGaming pursuant to regulations in five states and in Ontario, Canada under its DraftKings brand and pursuant to regulations in four states under its Golden Nugget Online Gaming brand. It owns Jackpocket, a digital lottery courier app in the United States. It is both an official daily fantasy and sports betting partner of the NFL, NHL, PGA TOUR, WNBA and UFC, as well as an official daily fantasy partner of NASCAR, an official sports betting partner of the NBA. It also owns and operates DraftKings Network, a multi-platform content ecosystem.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
