Flutter Entertainment (NYSE:FLUT) Price Target Raised to $300.00

Flutter Entertainment (NYSE:FLUT) had its price target increased by Needham & Company LLC from $270.00 to $300.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also issued reports on FLUT. Barclays increased their target price on Flutter Entertainment from $275.00 to $301.00 and gave the stock an “overweight” rating in a research report on Wednesday. Moffett Nathanson lifted their price target on shares of Flutter Entertainment from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. BTIG Research boosted their price objective on shares of Flutter Entertainment from $249.00 to $305.00 and gave the stock a “buy” rating in a research note on Monday. Wells Fargo & Company raised their target price on shares of Flutter Entertainment from $295.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Benchmark boosted their price target on Flutter Entertainment from $265.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday. Fourteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $296.08.

Flutter Entertainment Price Performance

Shares of FLUT opened at $265.54 on Wednesday. The firm has a fifty day simple moving average of $230.80 and a two-hundred day simple moving average of $208.67. Flutter Entertainment has a twelve month low of $149.00 and a twelve month high of $266.22.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $2.33 EPS for the quarter, topping 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. On average, equities research analysts predict that Flutter Entertainment will post 4.72 EPS for the current year.

Flutter Entertainment announced that its board has approved a stock repurchase program on Wednesday, September 25th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to purchase up to 11.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Flutter Entertainment

A number of hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC purchased a new stake in shares of Flutter Entertainment during the 1st quarter valued at about $1,272,000. Capital International Ltd. CA purchased a new stake in Flutter Entertainment in the first quarter worth approximately $2,180,000. Vanguard Group Inc. bought a new stake in Flutter Entertainment in the 1st quarter worth approximately $1,578,442,000. National Bank of Canada FI bought a new stake in Flutter Entertainment in the 1st quarter worth approximately $31,514,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Flutter Entertainment during the 1st quarter valued at $22,498,000.

About Flutter Entertainment

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.