Flutter Entertainment (NYSE:FLUT) Price Target Increased to $265.00 by Analysts at Benchmark

Flutter Entertainment (NYSE:FLUT) had its price objective boosted by Benchmark from $255.00 to $265.00 in a report issued on Thursday, Benzinga reports. Benchmark currently has a buy rating on the stock.

FLUT has been the topic of several other research reports. Morgan Stanley began coverage on Flutter Entertainment in a research report on Thursday, August 22nd. They set an overweight rating and a $247.00 target price on the stock. Wells Fargo & Company upped their target price on shares of Flutter Entertainment from $218.00 to $224.00 and gave the stock an equal weight rating in a research note on Wednesday, August 14th. Berenberg Bank raised shares of Flutter Entertainment to a strong-buy rating in a research report on Tuesday, August 27th. Barclays started coverage on shares of Flutter Entertainment in a research note on Thursday, September 12th. They issued an overweight rating and a $263.00 price objective for the company. Finally, BTIG Research boosted their price objective on Flutter Entertainment from $245.00 to $249.00 and gave the stock a buy rating in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Flutter Entertainment currently has a consensus rating of Buy and a consensus target price of $260.45.

Flutter Entertainment Stock Performance

FLUT opened at $243.95 on Thursday. Flutter Entertainment has a 1-year low of $148.00 and a 1-year high of $252.84. The company’s fifty day moving average price is $207.75 and its two-hundred day moving average price is $200.69.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $1.07 by $1.26. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.41 billion. Equities analysts forecast that Flutter Entertainment will post 4.75 earnings per share for the current year.

Flutter Entertainment declared that its board has authorized a share repurchase plan 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 plans are generally a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Flutter Entertainment

Institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new stake in Flutter Entertainment during the 1st quarter worth about $1,272,000. Nordea Investment Management AB bought a new stake in shares of Flutter Entertainment during the first quarter valued at about $1,656,000. Capital International Ltd. CA purchased a new stake in shares of Flutter Entertainment in the first quarter worth about $2,180,000. Swiss National Bank bought a new position in shares of Flutter Entertainment in the first quarter valued at approximately $119,485,000. Finally, Vanguard Group Inc. bought a new stake in Flutter Entertainment during the 1st quarter worth approximately $1,578,442,000.

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.