Flutter Entertainment (NYSE:FLUT) Coverage Initiated by Analysts at Needham & Company LLC

Equities research analysts at Needham & Company LLC initiated coverage on shares of Flutter Entertainment (NYSE:FLUT) in a report released on Monday, MarketBeat Ratings reports. The firm set a “buy” rating and a $270.00 price target on the stock. Needham & Company LLC’s price target would indicate a potential upside of 18.33% from the company’s previous close.

A number of other analysts also recently weighed in on FLUT. Oppenheimer lifted their price target on Flutter Entertainment from $240.00 to $255.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. JMP Securities reiterated a “market outperform” rating and set a $255.00 target price on shares of Flutter Entertainment in a research report on Wednesday, September 18th. BTIG Research boosted their target price on Flutter Entertainment from $245.00 to $249.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Barclays initiated coverage on Flutter Entertainment in a research report on Thursday, September 12th. They set an “overweight” rating and a $263.00 target price on the stock. Finally, Susquehanna boosted their target price on Flutter Entertainment from $222.00 to $230.00 and gave the stock a “positive” rating in a research report on Wednesday, August 14th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $248.80.

Flutter Entertainment Stock Down 0.6 %

FLUT opened at $228.17 on Monday. Flutter Entertainment has a 52 week low of $148.00 and a 52 week high of $234.54. The business’s 50 day moving average is $207.03 and its two-hundred day moving average is $200.42.

Flutter Entertainment (NYSE:FLUT) last announced its 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 company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.41 billion. Sell-side analysts forecast that Flutter Entertainment will post 4.75 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Maven Securities LTD purchased a new position in Flutter Entertainment in the second quarter valued at about $894,000. Susquehanna International Group Ltd. raised its stake in Flutter Entertainment by 124.2% during the second quarter. Susquehanna International Group Ltd. now owns 56,534 shares of the company’s stock valued at $10,310,000 after buying an additional 31,322 shares in the last quarter. Scientech Research LLC acquired a new stake in Flutter Entertainment during the second quarter valued at approximately $993,000. Sender Co & Partners Inc. acquired a new stake in Flutter Entertainment during the second quarter valued at approximately $1,083,000. Finally, Mackenzie Financial Corp raised its stake in Flutter Entertainment by 168.9% during the second quarter. Mackenzie Financial Corp now owns 11,918 shares of the company’s stock valued at $2,177,000 after buying an additional 7,486 shares in the last quarter.

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.