Flutter Entertainment (NYSE:FLUT) Now Covered by Barclays

Investment analysts at Barclays initiated coverage on shares of Flutter Entertainment (NYSE:FLUT) in a report issued on Thursday, Marketbeat reports. The firm set an “overweight” rating and a $263.00 price target on the stock. Barclays‘s price objective indicates a potential upside of 18.76% from the company’s current price.

A number of other equities analysts have also commented on the company. BTIG Research raised their price target on Flutter Entertainment from $245.00 to $249.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Oppenheimer lifted their price target on Flutter Entertainment from $240.00 to $255.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Berenberg Bank raised Flutter Entertainment to a “strong-buy” rating in a research note on Tuesday, August 27th. Benchmark reiterated a “buy” rating and issued a $255.00 price objective on shares of Flutter Entertainment in a report on Wednesday, August 14th. Finally, JMP Securities lifted their price objective on Flutter Entertainment from $246.00 to $255.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $246.44.

Flutter Entertainment Stock Performance

FLUT stock opened at $221.45 on Thursday. The stock’s 50 day moving average is $203.38 and its 200-day moving average is $200.06. Flutter Entertainment has a twelve month low of $148.00 and a twelve month high of $226.40.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly 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 for the quarter, compared to analysts’ expectations of $3.41 billion. As a group, equities analysts predict that Flutter Entertainment will post 4.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FLUT. Capital World Investors bought a new stake in shares of Flutter Entertainment in the 1st quarter worth approximately $2,880,796,000. Capital Research Global Investors purchased a new position in shares of Flutter Entertainment in the 1st quarter worth $2,418,032,000. Vanguard Group Inc. purchased a new position in shares of Flutter Entertainment in the 1st quarter worth $1,578,442,000. Capital International Investors purchased a new position in shares of Flutter Entertainment in the 1st quarter worth $507,170,000. Finally, Marshall Wace LLP raised its holdings 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 purchasing an additional 831,585 shares during the period.

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.