Flutter Entertainment (NYSE:FLUT) Price Target Raised to $299.00

Flutter Entertainment (NYSE:FLUT) had its target price boosted by JMP Securities from $287.00 to $299.00 in a research note published on Wednesday,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

A number of other equities analysts have also weighed in on the stock. Moffett Nathanson lifted their price target on shares of Flutter Entertainment from $245.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Morgan Stanley assumed coverage on shares of Flutter Entertainment in a research note on Thursday, August 22nd. They set an “overweight” rating and a $247.00 price target on the stock. BTIG Research increased their target price on Flutter Entertainment from $249.00 to $305.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Oppenheimer boosted their price objective on Flutter Entertainment from $300.00 to $305.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Barclays increased their target price on shares of Flutter Entertainment from $275.00 to $301.00 and gave the stock an “overweight” rating in a report on Wednesday. Fourteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $296.08.

Flutter Entertainment Price Performance

NYSE:FLUT opened at $265.44 on Wednesday. Flutter Entertainment has a 1-year low of $149.00 and a 1-year high of $269.90. The firm has a 50 day simple moving average of $233.95 and a 200-day simple moving average of $210.01.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $1.26. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.41 billion. As a group, research analysts expect that Flutter Entertainment will post 4.65 EPS for the current year.

Flutter Entertainment declared that its Board of Directors has authorized a stock buyback plan on Wednesday, September 25th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to reacquire up to 11.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Flutter Entertainment

Several large investors have recently made changes to their positions in FLUT. Capital World Investors bought a new stake in shares of Flutter Entertainment during the 1st quarter worth $2,880,796,000. Capital Research Global Investors purchased a new position in Flutter Entertainment during the first quarter valued at approximately $2,418,032,000. Vanguard Group Inc. acquired a new position in shares of Flutter Entertainment in the first quarter worth $1,578,442,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Flutter Entertainment during the third quarter worth $849,474,000. Finally, Bank of Montreal Can boosted its position in Flutter Entertainment by 868.5% during the third quarter. Bank of Montreal Can now owns 3,367,022 shares of the company’s stock valued at $798,927,000 after purchasing an additional 3,019,376 shares during 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.