Needham & Company LLC Initiates Coverage on Flutter Entertainment (NYSE:FLUT)

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

A number of other equities research analysts also recently weighed in on FLUT. JMP Securities restated a “market outperform” rating and set a $255.00 price target on shares of Flutter Entertainment in a research report on Wednesday, September 18th. Berenberg Bank upgraded Flutter Entertainment to a “strong-buy” rating in a report on Tuesday, August 27th. Benchmark restated a “buy” rating and issued a $255.00 price objective on shares of Flutter Entertainment in a report on Wednesday, August 14th. Wells Fargo & Company boosted their target price on shares of Flutter Entertainment from $218.00 to $224.00 and gave the company an “equal weight” rating in a report on Wednesday, August 14th. Finally, Morgan Stanley began coverage on shares of Flutter Entertainment in a report on Thursday, August 22nd. They set an “overweight” rating and a $247.00 target price on the stock. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Flutter Entertainment presently has a consensus rating of “Buy” and an average target price of $248.80.

Flutter Entertainment Stock Performance

Shares of Flutter Entertainment stock opened at $228.17 on Monday. The stock’s 50-day moving average is $207.03 and its 200 day moving average is $200.42. Flutter Entertainment has a one year low of $148.00 and a one year high of $234.54.

Flutter Entertainment (NYSE:FLUT) last released its earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $1.26. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.41 billion. Analysts expect that Flutter Entertainment will post 4.75 EPS for the current fiscal year.

Institutional Investors Weigh In On Flutter Entertainment

A number of large investors have recently bought and sold shares of the company. Artemis Investment Management LLP acquired a new position in shares of Flutter Entertainment during the 1st quarter worth approximately $29,611,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Flutter Entertainment during the 1st quarter worth $7,319,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Flutter Entertainment during the 1st quarter worth $70,371,000. Financial Perspectives Inc purchased a new position in shares of Flutter Entertainment during the 1st quarter worth $102,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Flutter Entertainment during the 1st quarter worth $19,345,000.

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.