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

Flutter Entertainment (NYSE:FLUT) had its target price raised by analysts at Oppenheimer from $255.00 to $300.00 in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price objective would indicate a potential upside of 25.88% from the stock’s current price.

Several other brokerages have also recently issued reports on FLUT. Barclays started coverage on Flutter Entertainment in a research report on Thursday, September 12th. They set an “overweight” rating and a $263.00 target price on the stock. Wells Fargo & Company upped their target price on shares of Flutter Entertainment from $218.00 to $224.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 14th. Benchmark reiterated a “buy” rating and issued a $255.00 target price on shares of Flutter Entertainment in a report on Wednesday, August 14th. BTIG Research boosted their price target on shares of Flutter Entertainment from $245.00 to $249.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Finally, Morgan Stanley started coverage on shares of Flutter Entertainment in a research report on Thursday, August 22nd. They issued an “overweight” rating and a $247.00 price objective for the company. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $260.45.

Flutter Entertainment Stock Performance

FLUT opened at $238.33 on Thursday. Flutter Entertainment has a 1-year low of $148.00 and a 1-year high of $252.84. The company’s fifty day moving average price is $208.64 and its two-hundred day moving average price is $200.99.

Flutter Entertainment (NYSE:FLUT) last posted its earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share for the quarter, topping 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 4.75 earnings per share for the current year.

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

Institutional Investors Weigh In On Flutter Entertainment

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