Flutter Entertainment (NYSE:FLUT) Price Target Raised to $275.00

Flutter Entertainment (NYSE:FLUT) had its target price lifted by Barclays from $263.00 to $275.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities analysts have also issued reports on FLUT. Needham & Company LLC assumed coverage on Flutter Entertainment in a research report on Monday, September 23rd. They set a buy rating and a $270.00 price target on the stock. Moffett Nathanson lifted their price objective on Flutter Entertainment from $245.00 to $275.00 and gave the stock a buy rating in a research report on Thursday. Berenberg Bank upgraded Flutter Entertainment to a strong-buy rating in a research report on Tuesday, August 27th. JMP Securities reiterated a market outperform rating and issued a $255.00 price objective on shares of Flutter Entertainment in a research report on Wednesday, September 18th. Finally, Wells Fargo & Company lifted their price objective on Flutter Entertainment from $218.00 to $224.00 and gave the stock an equal weight rating in a research report on Wednesday, August 14th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Buy and an average price target of $260.45.

Flutter Entertainment Trading Down 2.3 %

Shares of Flutter Entertainment stock opened at $238.33 on Thursday. The business’s 50-day moving average price is $209.39 and its 200-day moving average price is $200.98. Flutter Entertainment has a 12 month low of $148.00 and a 12 month high of $252.84.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.07 by $1.26. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.41 billion. As a group, sell-side analysts anticipate that Flutter Entertainment will post 4.75 earnings per share for the current fiscal year.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FLUT. Hollencrest Capital Management purchased a new position in Flutter Entertainment during the first quarter valued at $28,000. Rothschild Investment LLC purchased a new position in Flutter Entertainment during the second quarter valued at $37,000. CWM LLC purchased a new position in Flutter Entertainment during the second quarter valued at $40,000. YHB Investment Advisors Inc. purchased a new position in Flutter Entertainment during the first quarter valued at $45,000. Finally, Hilltop National Bank purchased a new position in Flutter Entertainment during the second quarter valued at $101,000.

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.