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

Flutter Entertainment (NYSE:FLUT) had its target price boosted by Needham & Company LLC from $270.00 to $300.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s target price suggests a potential upside of 12.36% from the stock’s previous close.

A number of other equities research analysts have also recently commented on FLUT. UBS Group began coverage on Flutter Entertainment in a report on Friday, November 8th. They set a “buy” rating and a $306.00 price target on the stock. Susquehanna boosted their price target on Flutter Entertainment from $273.00 to $286.00 and gave the stock a “positive” rating in a report on Wednesday. Craig Hallum upped their price target on Flutter Entertainment from $275.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday. Oppenheimer lifted their price objective on shares of Flutter Entertainment from $300.00 to $305.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Barclays upped their target price on shares of Flutter Entertainment from $275.00 to $301.00 and gave the stock an “overweight” rating in a research report on Wednesday. Fourteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Flutter Entertainment currently has an average rating of “Buy” and a consensus price target of $296.08.

Flutter Entertainment Trading Up 0.6 %

NYSE FLUT opened at $267.00 on Wednesday. Flutter Entertainment has a fifty-two week low of $149.00 and a fifty-two week high of $269.90. The business’s fifty day moving average is $231.87 and its 200 day moving average is $209.07.

Flutter Entertainment (NYSE:FLUT) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.07 by $1.26. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.41 billion. As a group, equities research analysts predict that Flutter Entertainment will post 4.72 earnings per share for the current fiscal year.

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

Institutional Investors Weigh In On Flutter Entertainment

Several institutional investors have recently modified their holdings of FLUT. Capital World Investors purchased a new stake in Flutter Entertainment during the 1st quarter valued at $2,880,796,000. Capital Research Global Investors bought a new position in shares of Flutter Entertainment during the first quarter valued at approximately $2,418,032,000. Vanguard Group Inc. purchased a new position in Flutter Entertainment during the 1st quarter valued at $1,578,442,000. Massachusetts Financial Services Co. MA bought a new position in Flutter Entertainment in the 3rd quarter valued at $849,474,000. Finally, Bank of Montreal Can increased its stake in Flutter Entertainment by 868.5% in the third quarter. Bank of Montreal Can now owns 3,367,022 shares of the company’s stock worth $798,927,000 after purchasing an additional 3,019,376 shares during the period.

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.