Flutter Entertainment (NYSE:FLUT) Price Target Raised to $300.00 at Oppenheimer

Flutter Entertainment (NYSE:FLUT) had its price target hoisted by equities researchers at Oppenheimer from $255.00 to $300.00 in a research note issued to investors on Thursday, Briefing.com reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price target points to a potential upside of 25.08% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Benchmark restated a “buy” rating and set a $255.00 price target on shares of Flutter Entertainment in a research report on Wednesday, August 14th. JMP Securities reissued a “market outperform” rating and set a $255.00 price objective on shares of Flutter Entertainment in a report on Wednesday, September 18th. Needham & Company LLC initiated coverage on Flutter Entertainment in a research note on Monday. They issued a “buy” rating and a $270.00 target price on the stock. Morgan Stanley assumed coverage on Flutter Entertainment in a research report on Thursday, August 22nd. They set an “overweight” rating and a $247.00 price target on the stock. Finally, Susquehanna lifted their price objective on Flutter Entertainment from $222.00 to $230.00 and gave the stock a “positive” rating in a report on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $254.30.

Flutter Entertainment Price Performance

FLUT opened at $239.84 on Thursday. Flutter Entertainment has a fifty-two week low of $148.00 and a fifty-two week high of $252.84. The company’s 50-day moving average is $207.75 and its 200 day moving average is $200.69.

Flutter Entertainment (NYSE:FLUT) last posted its earnings results on Tuesday, August 13th. The company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.07 by $1.26. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.41 billion. On average, equities research analysts anticipate that Flutter Entertainment will post 4.75 EPS for the current fiscal year.

Flutter Entertainment declared that its Board of Directors has approved a stock buyback plan on Wednesday, September 25th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to repurchase up to 11.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Flutter Entertainment

Several large investors have recently added to or reduced their stakes in FLUT. Maven Securities LTD purchased a new position in shares of Flutter Entertainment during the second quarter worth about $894,000. Susquehanna International Group Ltd. grew its holdings in shares of Flutter Entertainment by 124.2% during the second quarter. Susquehanna International Group Ltd. now owns 56,534 shares of the company’s stock worth $10,310,000 after purchasing an additional 31,322 shares in the last quarter. Scientech Research LLC purchased a new position in shares of Flutter Entertainment during the second quarter worth about $993,000. Sender Co & Partners Inc. purchased a new position in shares of Flutter Entertainment during the second quarter worth about $1,083,000. Finally, Mackenzie Financial Corp grew its holdings in shares of Flutter Entertainment by 168.9% during the second quarter. Mackenzie Financial Corp now owns 11,918 shares of the company’s stock worth $2,177,000 after purchasing an additional 7,486 shares in the last quarter.

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.