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

Flutter Entertainment (NYSE:FLUT) had its price objective boosted by Oppenheimer from $255.00 to $300.00 in a research note released on Thursday morning, Marketbeat Ratings reports. The firm currently has an outperform rating on the stock.

A number of other equities analysts also recently weighed in on FLUT. Morgan Stanley started coverage on shares of Flutter Entertainment in a research note on Thursday, August 22nd. They set an overweight rating and a $247.00 price target on the stock. Wells Fargo & Company increased their price target 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. BTIG Research increased their price target on shares of Flutter Entertainment from $245.00 to $249.00 and gave the stock a buy rating in a research note on Wednesday, August 14th. Berenberg Bank raised shares of Flutter Entertainment to a strong-buy rating in a research note on Tuesday, August 27th. Finally, Susquehanna increased their price target on shares of Flutter Entertainment from $222.00 to $230.00 and gave the stock a positive rating in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Flutter Entertainment has a consensus rating of Buy and an average price target of $260.45.

Flutter Entertainment Trading Down 2.3 %

FLUT stock opened at $238.33 on Thursday. The company’s 50 day simple moving average is $209.39 and its 200-day simple moving average is $201.13. Flutter Entertainment has a 12 month low of $148.00 and a 12 month high of $252.84.

Flutter Entertainment (NYSE:FLUT) last announced its earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $1.26. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.41 billion. As a group, analysts predict that Flutter Entertainment will post 4.75 EPS for the current fiscal year.

Flutter Entertainment announced that its board has authorized a share buyback plan on Wednesday, September 25th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to repurchase up to 11.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Flutter Entertainment

Large investors have recently added to or reduced their stakes in the company. Hollencrest Capital Management acquired a new position in Flutter Entertainment during the 1st quarter worth $28,000. Rothschild Investment LLC acquired a new position in Flutter Entertainment during the 2nd quarter worth $37,000. CWM LLC acquired a new position in Flutter Entertainment during the 2nd quarter worth $40,000. YHB Investment Advisors Inc. acquired a new position in Flutter Entertainment during the 1st quarter worth $45,000. Finally, Hilltop National Bank acquired a new position in Flutter Entertainment during the 2nd quarter worth $101,000.

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.