Flutter Entertainment (NYSE:FLUT) Given New $300.00 Price Target at Wells Fargo & Company

Flutter Entertainment (NYSE:FLUT) had its price objective hoisted by Wells Fargo & Company from $295.00 to $300.00 in a report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Craig Hallum raised their target price on Flutter Entertainment from $275.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday. Berenberg Bank raised shares of Flutter Entertainment to a “strong-buy” rating in a research report on Tuesday, August 27th. Barclays lifted their price target on shares of Flutter Entertainment from $275.00 to $301.00 and gave the company an “overweight” rating in a research report on Wednesday. UBS Group began coverage on shares of Flutter Entertainment in a research report on Friday, November 8th. They set a “buy” rating and a $306.00 price objective for the company. Finally, JMP Securities boosted their target price on Flutter Entertainment from $255.00 to $287.00 and gave the company a “market outperform” rating in a research report on Monday, October 14th. Fourteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Flutter Entertainment currently has an average rating of “Buy” and an average target price of $296.08.

Flutter Entertainment Stock Performance

Shares of FLUT stock opened at $265.54 on Wednesday. The stock’s fifty day moving average price is $230.80 and its 200 day moving average price is $208.67. Flutter Entertainment has a 1-year low of $149.00 and a 1-year high of $266.22.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings data on Tuesday, August 13th. The company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.07 by $1.26. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.41 billion. Sell-side analysts expect that Flutter Entertainment will post 4.72 EPS for the current fiscal year.

Flutter Entertainment declared that its board has initiated a stock repurchase plan on Wednesday, September 25th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 11.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Flutter Entertainment

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new stake in Flutter Entertainment during the 1st quarter worth $1,272,000. Capital International Ltd. CA acquired a new position in Flutter Entertainment in the 1st quarter valued at about $2,180,000. Vanguard Group Inc. purchased a new stake in Flutter Entertainment during the 1st quarter valued at approximately $1,578,442,000. National Bank of Canada FI purchased a new stake in Flutter Entertainment during the 1st quarter valued at approximately $31,514,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Flutter Entertainment in the 1st quarter valued at approximately $22,498,000.

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.