Flutter Entertainment (NYSE:FLUT) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Flutter Entertainment (NYSE:FLUT) had its price target boosted by equities research analysts at Needham & Company LLC from $270.00 to $300.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective indicates a potential upside of 14.60% from the company’s previous close.

FLUT has been the subject of several other research reports. BTIG Research upped their price objective on shares of Flutter Entertainment from $249.00 to $305.00 and gave the stock a “buy” rating in a research report on Monday. JMP Securities increased their target price on shares of Flutter Entertainment from $287.00 to $299.00 and gave the stock a “market outperform” rating in a report on Wednesday. Bank of America started coverage on shares of Flutter Entertainment in a report on Monday, October 14th. They set a “buy” rating and a $300.00 price target on the stock. Berenberg Bank raised shares of Flutter Entertainment to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, Wells Fargo & Company upped their price target on shares of Flutter Entertainment from $295.00 to $300.00 and gave the stock an “overweight” rating in a report on Wednesday. Fourteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Flutter Entertainment presently has an average rating of “Buy” and a consensus price target of $296.08.

Flutter Entertainment Price Performance

Shares of FLUT traded up $13.60 during trading hours on Wednesday, hitting $261.77. The company had a trading volume of 2,576,314 shares, compared to its average volume of 1,119,808. Flutter Entertainment has a 12 month low of $149.00 and a 12 month high of $266.22. The business has a fifty day moving average of $230.06 and a 200-day moving average of $208.23.

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

Flutter Entertainment declared that its Board of Directors has initiated a share buyback program on Wednesday, September 25th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 11.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Flutter Entertainment

A number of large investors have recently bought and sold shares of the business. Rothschild Investment LLC bought a new stake in Flutter Entertainment in the second quarter valued at $37,000. CWM LLC bought a new stake in Flutter Entertainment in the 2nd quarter valued at about $40,000. US Bancorp DE raised its stake in Flutter Entertainment by 71.7% during the 3rd quarter. US Bancorp DE now owns 237 shares of the company’s stock worth $56,000 after buying an additional 99 shares during the period. Venturi Wealth Management LLC acquired a new position in Flutter Entertainment during the 3rd quarter worth approximately $82,000. Finally, Hilltop National Bank acquired a new stake in Flutter Entertainment in the second quarter valued at approximately $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.