Flutter Entertainment (NYSE:FLUT) Price Target Increased to $265.00 by Analysts at Benchmark

Flutter Entertainment (NYSE:FLUT) had its price target raised by Benchmark from $255.00 to $265.00 in a research note published on Thursday, Benzinga reports. Benchmark currently has a buy rating on the stock.

Several other equities research analysts have also weighed in on FLUT. Barclays initiated coverage on Flutter Entertainment in a report on Thursday, September 12th. They issued an overweight rating and a $263.00 price objective for the company. 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 for the company. Berenberg Bank upgraded Flutter Entertainment to a strong-buy rating in a research note on Tuesday, August 27th. Morgan Stanley initiated coverage on Flutter Entertainment in a research note on Thursday, August 22nd. They issued an overweight rating and a $247.00 target price for the company. Finally, Susquehanna raised their target price on Flutter Entertainment from $222.00 to $230.00 and gave the stock a positive rating in a research note on Wednesday, August 14th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Flutter Entertainment currently has an average rating of Buy and an average target price of $260.45.

Flutter Entertainment Price Performance

Shares of FLUT opened at $238.33 on Thursday. The business has a 50-day moving average of $209.39 and a 200 day moving average of $201.13. Flutter Entertainment has a fifty-two week low of $148.00 and a fifty-two week high of $252.84.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.07 by $1.26. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.41 billion. On average, research analysts expect that Flutter Entertainment will post 4.75 earnings per share for the current year.

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

Institutional Trading of Flutter Entertainment

A number of large investors have recently modified their holdings of FLUT. Capital World Investors bought a new stake in Flutter Entertainment in the 1st quarter worth approximately $2,880,796,000. Capital Research Global Investors bought a new stake in Flutter Entertainment in the 1st quarter worth approximately $2,418,032,000. Vanguard Group Inc. bought a new stake in Flutter Entertainment in the 1st quarter worth approximately $1,578,442,000. Capital International Investors bought a new stake in Flutter Entertainment in the 1st quarter worth approximately $507,170,000. Finally, Marshall Wace LLP lifted its position in Flutter Entertainment by 339.2% in the 2nd quarter. Marshall Wace LLP now owns 1,076,739 shares of the company’s stock worth $196,354,000 after buying an additional 831,585 shares during the last quarter.

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.