Morgan Stanley cuts target for DraftKings stock to USD 31

Published on 10/20/2026 at 19:48 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Wells Fargo raised its target to USD 30 from USD 29 on October 19, 2026. DraftKings stock costs EUR 17.93 on October 20, 2026 at 7:42 p.m. CEST.

Analyst targets and dates

Morgan Stanley cut its DraftKings target to USD 31.00 from USD 36.00 on October 19, 2026.
Wells Fargo raised its target to USD 30.00 from USD 29.00 on October 19, 2026.
DraftKings stock costs EUR 17.93 at Lang & Schwarz on October 20, 2026 at 7:42 p.m. CEST.
DraftKings is estimated to report third-quarter 2026 results on November 5, 2026.

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DraftKings stock is facing conflicting analyst signals after Morgan Stanley cut its price target to USD 31.00 from USD 36.00 on October 19, 2026, while keeping an Overweight rating, according to Yahoo Finance. DraftKings stock was trading at EUR 17.93 at Lang & Schwarz on October 20, 2026 at 7:42 p.m. CEST.

Targets move in opposite directions

Morgan Stanley's new USD 31.00 target remains above the USD 19.75 share price cited in its October 19 report, but the cut reduces the target by USD 5.00. The firm said the target still implied 57 percent upside and kept its Overweight rating.

A separate call was more constructive. Wells Fargo analyst Trey Bowers raised the target to USD 30.00 from USD 29.00 on October 19, 2026, and kept an Overweight rating, as Markets Insider reported. Wells Fargo also cited low-double-digit handle and gross gaming revenue growth through September.

Stock remains near its yearly low

DraftKings was quoted at USD 20.14 on the Nasdaq at 5:47 p.m. UTC on October 20, 2026, equivalent to 1:47 p.m. ET. Its USD 18.35 to USD 36.98 52-week range places the latest US quote USD 1.79 above the low and USD 16.84 below the high. The market capitalization was USD 10.0 billion on October 20, 2026.

The valuation picture is still loss-making on the reported trailing measure, with a negative price-to-earnings ratio of 62.91 on October 20, 2026. DraftKings had 5,747,382 shares of trading volume in the same quote snapshot, while the company operates online sportsbook, casino, fantasy sports and prediction-market products.

November results set the next test

DraftKings is estimated to report third-quarter 2026 results after the market closes on November 5, 2026, with the conference call scheduled for November 6 at 8:30 a.m. ET, according to MarketBeat. The published estimate is a USD 1.41 billion revenue quarter and a USD 0.37 loss per share, compared with USD 1.14 billion revenue and a USD 0.26 loss per share in the year-earlier quarter.

The latest reported quarter showed the pressure behind the target revisions. DraftKings revenue fell 5 percent to about USD 1.44 billion in the second quarter of 2026, while monthly unique payers rose 9 percent to 3.6 million and average revenue per payer fell 13 percent to USD 132, according to Yahoo Finance.

Mixed targets keep attention on execution

The October 19 target changes leave the next earnings report as the clearest numerical test for DraftKings. Revenue growth, payer monetization and prediction-market spending will determine whether the lower 2026 earnings expectations begin to stabilize.

The further course of trading is shown by the continuously updated real-time quote of DraftKings stock.