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

Flutter Entertainment (NYSE:FLUT) had its price objective hoisted by Barclays from $263.00 to $275.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 15.39% from the stock’s previous close.

Several other research analysts also recently weighed in on the company. Oppenheimer lifted their target price on Flutter Entertainment from $255.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday. BTIG Research boosted their price objective on shares of Flutter Entertainment from $245.00 to $249.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. JMP Securities restated a “market outperform” rating and issued a $255.00 target price on shares of Flutter Entertainment in a research note on Wednesday, September 18th. Morgan Stanley started coverage on shares of Flutter Entertainment in a research note on Thursday, August 22nd. They set an “overweight” rating and a $247.00 price target on the stock. Finally, Susquehanna raised their price objective on shares of Flutter Entertainment from $222.00 to $230.00 and gave the company a “positive” rating in a research report on Wednesday, August 14th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $260.45.

Flutter Entertainment Stock Down 2.3 %

Shares of Flutter Entertainment stock opened at $238.33 on Thursday. The firm’s fifty day simple moving average is $208.64 and its 200-day simple moving average is $200.99. 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 earnings results on Tuesday, August 13th. The company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $1.26. The business had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.41 billion. Equities analysts predict that Flutter Entertainment will post 4.75 EPS for the current year.

Flutter Entertainment announced that its board 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 repurchase 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 shares are undervalued.

Institutional Investors Weigh In On Flutter Entertainment

Several institutional investors have recently modified their holdings of the company. Hollencrest Capital Management acquired a new position in Flutter Entertainment during the first quarter worth $28,000. Assenagon Asset Management S.A. increased its position in shares of Flutter Entertainment by 3.0% in the second quarter. Assenagon Asset Management S.A. now owns 5,760 shares of the company’s stock valued at $1,053,000 after buying an additional 170 shares in the last quarter. Rothschild Investment LLC acquired a new position in shares of Flutter Entertainment during the 2nd quarter worth $37,000. CWM LLC purchased a new stake in shares of Flutter Entertainment in the 2nd quarter worth about $40,000. Finally, YHB Investment Advisors Inc. acquired a new stake in Flutter Entertainment in the 1st quarter valued at about $45,000.

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.