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

Flutter Entertainment (NYSE:FLUT) had its price target raised by investment analysts at Oppenheimer from $255.00 to $300.00 in a research note issued on Thursday, MarketBeat reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price target would indicate a potential upside of 25.88% from the company’s current price.

FLUT has been the subject of several other research reports. Susquehanna increased 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. BTIG Research raised their price target on Flutter Entertainment from $245.00 to $249.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Morgan Stanley began coverage on shares of Flutter Entertainment in a research report on Thursday, August 22nd. They set an “overweight” rating and a $247.00 price objective on the stock. Needham & Company LLC began coverage on shares of Flutter Entertainment in a research report on Monday, September 23rd. They issued a “buy” rating and a $270.00 target price for the company. Finally, Benchmark reaffirmed a “buy” rating and set a $255.00 target price on shares of Flutter Entertainment in a research note on Wednesday, August 14th. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Flutter Entertainment presently has an average rating of “Buy” and an average target price of $260.45.

Flutter Entertainment Stock Performance

Shares of FLUT opened at $238.33 on Thursday. Flutter Entertainment has a fifty-two week low of $148.00 and a fifty-two week high of $252.84. The firm has a 50 day moving average price of $208.64 and a 200-day moving average price of $200.99.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings data on Tuesday, August 13th. The company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. Equities analysts expect that Flutter Entertainment will post 4.75 earnings per share for the current year.

Flutter Entertainment announced that its board has approved a stock repurchase program on Wednesday, September 25th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 11.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Flutter Entertainment

Hedge funds have recently made changes to their positions in the stock. Capital World Investors bought a new position in Flutter Entertainment in the 1st quarter worth about $2,880,796,000. Capital Research Global Investors bought a new position in shares of Flutter Entertainment in the first quarter worth approximately $2,418,032,000. Vanguard Group Inc. purchased a new stake in shares of Flutter Entertainment during the first quarter valued at approximately $1,578,442,000. Hsbc Holdings PLC increased its position in shares of Flutter Entertainment by 10.9% during the second quarter. Hsbc Holdings PLC now owns 6,189,639 shares of the company’s stock valued at $1,131,079,000 after acquiring an additional 608,003 shares in the last quarter. Finally, Capital International Investors purchased a new position in Flutter Entertainment in the 1st quarter worth approximately $507,170,000.

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.