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

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

FLUT has been the subject of several other reports. Needham & Company LLC assumed coverage on Flutter Entertainment in a research note on Monday, September 23rd. They set a “buy” rating and a $270.00 target price for the company. Benchmark restated a “buy” rating and issued a $265.00 price target on shares of Flutter Entertainment in a research report on Monday, October 14th. UBS Group assumed coverage on shares of Flutter Entertainment in a research report on Friday, November 8th. They issued a “buy” rating and a $306.00 price target on the stock. Berenberg Bank upgraded shares of Flutter Entertainment to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, Craig Hallum boosted their price target on shares of Flutter Entertainment from $240.00 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 issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $283.92.

Flutter Entertainment Price Performance

NYSE:FLUT traded up $11.98 during trading hours on Wednesday, reaching $260.15. 768,095 shares of the company traded hands, compared to its average volume of 1,111,589. The firm’s 50-day moving average is $230.06 and its 200-day moving average is $208.23. Flutter Entertainment has a 1-year low of $149.00 and a 1-year high of $264.03.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $1.26. The business had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.41 billion. On average, analysts forecast that Flutter Entertainment will post 4.72 EPS for the current fiscal year.

Flutter Entertainment announced that its board has authorized a share buyback plan on Wednesday, September 25th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 11.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Flutter Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLUT. Capital World Investors bought a new stake in Flutter Entertainment in the first quarter valued at about $2,880,796,000. Capital Research Global Investors bought a new stake in Flutter Entertainment in the first quarter valued at about $2,418,032,000. Vanguard Group Inc. bought a new stake in Flutter Entertainment in the first quarter valued at about $1,578,442,000. Massachusetts Financial Services Co. MA bought a new stake in Flutter Entertainment during the third quarter worth about $849,474,000. Finally, Capital International Investors bought a new stake in Flutter Entertainment during the first quarter worth about $507,170,000.

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.