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

Flutter Entertainment (NYSE:FLUT) had its price objective upped by equities research analysts at Moffett Nathanson from $245.00 to $275.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Moffett Nathanson’s target price points to a potential upside of 14.66% from the company’s current price.

A number of other equities analysts have also commented on the stock. Susquehanna boosted their price target 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. Oppenheimer boosted their price target on shares of Flutter Entertainment from $255.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday. Needham & Company LLC began coverage on shares of Flutter Entertainment in a research report on Monday. They issued a “buy” rating and a $270.00 price target on the stock. JMP Securities restated a “market outperform” rating and issued a $255.00 price target on shares of Flutter Entertainment in a research report on Wednesday, September 18th. Finally, Morgan Stanley started coverage on shares of Flutter Entertainment in a research report on Thursday, August 22nd. They issued an “overweight” rating and a $247.00 price target on the stock. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Flutter Entertainment has an average rating of “Buy” and a consensus price target of $257.80.

Flutter Entertainment Trading Up 5.1 %

Shares of Flutter Entertainment stock opened at $239.84 on Thursday. The firm’s 50-day simple moving average is $207.75 and its 200-day simple moving average is $200.69. Flutter Entertainment has a twelve month low of $148.00 and a twelve month high of $252.84.

Flutter Entertainment (NYSE:FLUT) last released 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 firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.41 billion. On average, equities analysts forecast that Flutter Entertainment will post 4.75 earnings per share for the current fiscal year.

Flutter Entertainment declared that its Board of Directors has authorized a stock buyback plan on Wednesday, September 25th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 11.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Flutter Entertainment

Large investors have recently bought and sold shares of the business. Hollencrest Capital Management acquired a new stake in Flutter Entertainment in the first quarter worth $28,000. Rothschild Investment LLC acquired a new stake in Flutter Entertainment in the second quarter worth $37,000. CWM LLC acquired a new stake in Flutter Entertainment in the second quarter worth $40,000. YHB Investment Advisors Inc. acquired a new stake in Flutter Entertainment in the first quarter worth $45,000. Finally, Financial Perspectives Inc acquired a new stake in Flutter Entertainment in the first quarter worth $102,000.

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.