Flutter Entertainment (NYSE:FLUT) Price Target Raised to $305.00

Flutter Entertainment (NYSE:FLUT) had its target price boosted by stock analysts at Oppenheimer from $300.00 to $305.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price target indicates a potential upside of 17.24% from the company’s previous close.

FLUT has been the topic of several other reports. Benchmark reaffirmed a “buy” rating and set a $265.00 target price on shares of Flutter Entertainment in a report on Monday, October 14th. Morgan Stanley started coverage on Flutter Entertainment in a report on Thursday, August 22nd. They issued an “overweight” rating and a $247.00 price objective on the stock. UBS Group started coverage on Flutter Entertainment in a report on Friday, November 8th. They issued a “buy” rating and a $306.00 price objective on the stock. Bank of America started coverage on Flutter Entertainment in a report on Monday, October 14th. They issued a “buy” rating and a $300.00 price objective on the stock. Finally, Moffett Nathanson raised their price objective on Flutter Entertainment from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Fourteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Flutter Entertainment currently has an average rating of “Buy” and an average target price of $283.92.

Flutter Entertainment Trading Up 4.8 %

Shares of FLUT traded up $11.98 during trading hours on Wednesday, hitting $260.15. The company had a trading volume of 768,095 shares, compared to its average volume of 1,111,589. Flutter Entertainment has a one year low of $149.00 and a one year high of $264.03. The company’s fifty day moving average price is $230.06 and its two-hundred day moving average price is $208.23.

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

Flutter Entertainment declared that its board has initiated a stock buyback program on Wednesday, September 25th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 11.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Flutter Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital World Investors acquired a new stake in shares of Flutter Entertainment in the 1st quarter worth approximately $2,880,796,000. Capital Research Global Investors acquired a new stake in shares of Flutter Entertainment in the 1st quarter worth approximately $2,418,032,000. Vanguard Group Inc. acquired a new stake in shares of Flutter Entertainment in the 1st quarter worth approximately $1,578,442,000. Massachusetts Financial Services Co. MA acquired a new stake in Flutter Entertainment during the 3rd quarter valued at $849,474,000. Finally, Capital International Investors acquired a new stake in Flutter Entertainment during the 1st quarter valued at $507,170,000.

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.