Flutter Entertainment (NYSE:FLUT) Stock Price Expected to Rise, BTIG Research Analyst Says

Flutter Entertainment (NYSE:FLUT) had its price objective lifted by equities researchers at BTIG Research from $249.00 to $305.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. BTIG Research’s target price suggests a potential upside of 22.84% from the stock’s previous close.

Several other equities analysts also recently commented on the company. Morgan Stanley began coverage on Flutter Entertainment in a research report on Thursday, August 22nd. They issued an “overweight” rating and a $247.00 price objective on the stock. Craig Hallum lifted their price objective 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. Berenberg Bank upgraded shares of Flutter Entertainment to a “strong-buy” rating in a research note on Tuesday, August 27th. Moffett Nathanson raised their target price on shares of Flutter Entertainment from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, Susquehanna boosted their price target on Flutter Entertainment from $230.00 to $273.00 and gave the company a “positive” rating in a report on Monday, October 7th. Fourteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Flutter Entertainment currently has a consensus rating of “Buy” and a consensus price target of $282.54.

Flutter Entertainment Trading Down 1.1 %

Shares of NYSE:FLUT opened at $248.30 on Monday. Flutter Entertainment has a 12 month low of $148.30 and a 12 month high of $252.84. The firm’s 50-day moving average is $230.06 and its 200 day moving average is $208.23.

Flutter Entertainment (NYSE:FLUT) last released its 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 for the quarter, compared to the consensus estimate of $3.41 billion. Sell-side analysts anticipate that Flutter Entertainment will post 4.72 earnings per share for the current year.

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

Institutional Trading of Flutter Entertainment

A number of institutional investors have recently modified their holdings of the company. Rothschild Investment LLC acquired a new stake in Flutter Entertainment in the second quarter valued at approximately $37,000. CWM LLC purchased a new stake in shares of Flutter Entertainment during the 2nd quarter valued at $40,000. US Bancorp DE boosted its position in shares of Flutter Entertainment by 71.7% in the 3rd quarter. US Bancorp DE now owns 237 shares of the company’s stock worth $56,000 after purchasing an additional 99 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in Flutter Entertainment during the 3rd quarter worth $82,000. Finally, Hilltop National Bank acquired a new position in Flutter Entertainment during the 2nd quarter valued at about $101,000.

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.