Wolfe Research initiated coverage of DraftKings (NASDAQ: DKNG) with an “Outperform” recommendation on September 2, 2026. The stock closed at $24.21 on that day, down from a pre-action close of $23.44 on September 1. Over the preceding week, DraftKings’ stock fell 2.30% from a baseline of $24.78 on August 26, 2026, but increased by 3.11% from a baseline of $23.48 on July 31, 2026.
In its recent quarterly earnings reported on August 6, 2026, DraftKings announced an EPS of -$0.14, compared to the analyst estimate of $0.0171, marking a significant negative surprise of -918.71%. Revenue for the quarter was $1.44 billion, below expectations of $1.54 billion. Analyst recommendations as of September 1 included 10 “strong buy,” 25 “buy,” 9 “hold,” and 1 “sell,” indicating 77.8% positive sentiment among 45 total active recommendations.
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