Wells Fargo has initiated coverage on Draftkings Inc (DKNG) with an Equal-Weight rating. This marks the firm's first assessment of the digital sports entertainment and gaming company, which is headquartered in Boston and employs approximately 5,100 full-time staff.
DraftKings operates a comprehensive suite of offerings, including online sports betting, online casino games, and daily fantasy sports. The company went public on July 3, 2019, and currently has a market capitalization of $14.3 billion. Its shares are trading at $29.37.
Upcoming earnings reports are on the horizon, with estimates suggesting an EPS of $0.43 and revenue of $1.7 billion for the quarter ending August 3, 2026. This follows a mixed earnings performance in recent quarters, where the company reported an EPS of -$0.52 for Q3 2025, against an estimate of -$0.43, resulting in a 21.6% surprise.
Such decisions reflect the dynamic nature of analyst ratings, which can shift as new information becomes available. Currently, the analyst consensus for DraftKings stands at 12 Strong Buy, 24 Buy, 5 Hold, 1 Sell, and no Strong Sell ratings, indicating a generally favorable outlook among analysts. Investors should consider these ratings as part of a broader analysis that includes company fundamentals and market trends.