Analysts Set Flutter Entertainment plc (NYSE:FLUT) Price Target at $246.44

Flutter Entertainment plc (NYSE:FLUT) has been given an average rating of “Buy” by the twelve ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $246.44.

A number of analysts have recently commented on the company. Barclays began coverage on Flutter Entertainment in a research note on Thursday, September 12th. They issued an “overweight” rating and a $263.00 price objective on the stock. JMP Securities restated a “market outperform” rating and set a $255.00 price objective on shares of Flutter Entertainment in a research report on Wednesday. BTIG Research lifted their price objective 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. Susquehanna raised their target price on shares of Flutter Entertainment from $222.00 to $230.00 and gave the stock a “positive” rating in a report on Wednesday, August 14th. Finally, Morgan Stanley initiated coverage on shares of Flutter Entertainment in a research report on Thursday, August 22nd. They issued an “overweight” rating and a $247.00 price target on the stock.

Flutter Entertainment Price Performance

Flutter Entertainment stock opened at $231.86 on Friday. Flutter Entertainment has a 52 week low of $148.00 and a 52 week high of $234.54. The company’s 50-day moving average price is $206.17 and its two-hundred day moving average price is $200.52.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $1.26. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.41 billion. Equities research analysts forecast that Flutter Entertainment will post 4.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Flutter Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLUT. Artemis Investment Management LLP purchased a new position in shares of Flutter Entertainment during the first quarter valued at $29,611,000. Allspring Global Investments Holdings LLC acquired a new stake in Flutter Entertainment during the 1st quarter worth about $7,319,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Flutter Entertainment during the 1st quarter valued at about $70,371,000. Financial Perspectives Inc acquired a new position in shares of Flutter Entertainment in the 1st quarter valued at about $102,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of Flutter Entertainment in the first quarter worth approximately $45,000.

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.