Flutter Entertainment (NYSE:FLUT) Price Target Raised to $305.00

Flutter Entertainment (NYSE:FLUT) had its price target boosted by Oppenheimer from $300.00 to $305.00 in a research note released on Wednesday,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other research firms also recently issued reports on FLUT. Barclays lifted their price target on Flutter Entertainment from $263.00 to $275.00 and gave the company an “overweight” rating in a research note on Thursday, September 26th. Needham & Company LLC initiated coverage on Flutter Entertainment in a research note on Monday, September 23rd. They issued a “buy” rating and a $270.00 target price on the stock. Wells Fargo & Company reiterated an “overweight” rating and issued a $295.00 price objective on shares of Flutter Entertainment in a report on Wednesday, October 30th. Benchmark reissued a “buy” rating and issued a $265.00 price objective on shares of Flutter Entertainment in a research report on Monday, October 14th. Finally, Bank of America started coverage on shares of Flutter Entertainment in a research report on Monday, October 14th. They issued a “buy” rating and a $300.00 target price for the company. Fourteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $296.08.

Flutter Entertainment Price Performance

NYSE FLUT opened at $265.44 on Wednesday. The business has a 50 day simple moving average of $233.95 and a 200 day simple moving average of $210.01. Flutter Entertainment has a 52-week low of $149.00 and a 52-week high of $269.90.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $1.26. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.41 billion. Equities analysts expect that Flutter Entertainment will post 4.65 earnings per share for the current fiscal year.

Flutter Entertainment announced that its board has initiated a share buyback plan on Wednesday, September 25th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to repurchase up to 11.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC acquired a new stake in Flutter Entertainment during the 3rd quarter valued at $436,599,000. Sender Co & Partners Inc. raised its position in shares of Flutter Entertainment by 43.5% in the third quarter. Sender Co & Partners Inc. now owns 8,521 shares of the company’s stock valued at $2,022,000 after purchasing an additional 2,582 shares during the period. Vestcor Inc acquired a new stake in shares of Flutter Entertainment during the 3rd quarter worth about $815,000. M&T Bank Corp boosted its holdings in shares of Flutter Entertainment by 11.3% during the 3rd quarter. M&T Bank Corp now owns 1,995 shares of the company’s stock worth $469,000 after buying an additional 203 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in Flutter Entertainment in the 3rd quarter valued at about $9,653,000.

Flutter Entertainment Company Profile

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.