Flutter Entertainment (NYSE:FLUT) PT Raised to $275.00 at Barclays

Flutter Entertainment (NYSE:FLUT) had its target price lifted by analysts at Barclays from $263.00 to $275.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 15.39% from the company’s current price.

Several other research firms have also commented on FLUT. Needham & Company LLC began coverage on shares of Flutter Entertainment in a research note on Monday, September 23rd. They issued a “buy” rating and a $270.00 price objective for the company. Berenberg Bank upgraded shares of Flutter Entertainment to a “strong-buy” rating in a research note on Tuesday, August 27th. Oppenheimer increased their price objective on Flutter Entertainment from $255.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday. Morgan Stanley initiated coverage on Flutter Entertainment in a report on Thursday, August 22nd. They issued an “overweight” rating and a $247.00 target price for the company. Finally, Wells Fargo & Company upped their price target on Flutter Entertainment from $218.00 to $224.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 14th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Flutter Entertainment has a consensus rating of “Buy” and a consensus target price of $260.45.

Flutter Entertainment Price Performance

Shares of NYSE FLUT opened at $238.33 on Thursday. The business’s 50 day moving average is $208.64 and its two-hundred day moving average is $200.99. Flutter Entertainment has a 52-week low of $148.00 and a 52-week high of $252.84.

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, beating the consensus estimate of $1.07 by $1.26. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.41 billion. Sell-side analysts expect that Flutter Entertainment will post 4.75 EPS for the current fiscal year.

Flutter Entertainment declared that its board has approved a share repurchase plan on Wednesday, September 25th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 11.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Flutter Entertainment

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

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.