Flutter Entertainment (NYSE:FLUT) Price Target Raised to $275.00

Flutter Entertainment (NYSE:FLUT) had its price target upped by Barclays from $263.00 to $275.00 in a research note issued to investors on Thursday, Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other equities research analysts have also recently weighed in on FLUT. Berenberg Bank upgraded shares of Flutter Entertainment to a strong-buy rating in a research report on Tuesday, August 27th. Wells Fargo & Company upped their target price on shares of Flutter Entertainment from $218.00 to $224.00 and gave the company an equal weight rating in a research report on Wednesday, August 14th. Susquehanna lifted their price target on Flutter Entertainment from $222.00 to $230.00 and gave the stock a positive rating in a research report on Wednesday, August 14th. Moffett Nathanson upped their price objective on Flutter Entertainment from $245.00 to $275.00 and gave the company a buy rating in a research report on Thursday. Finally, Needham & Company LLC began coverage on Flutter Entertainment in a report on Monday, September 23rd. They issued a buy rating and a $270.00 target price for the company. One equities research 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 company. According to data from MarketBeat.com, the stock presently has an average rating of Buy and an average price target of $260.45.

Flutter Entertainment Price Performance

FLUT opened at $238.33 on Thursday. The firm has a 50-day simple moving average of $209.39 and a two-hundred day simple moving average of $201.13. Flutter Entertainment has a 52 week low of $148.00 and a 52 week high of $252.84.

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 the consensus estimate of $1.07 by $1.26. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.41 billion. As a group, equities research analysts anticipate that Flutter Entertainment will post 4.75 EPS for the current fiscal year.

Flutter Entertainment announced that its board has authorized a stock repurchase program on Wednesday, September 25th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to purchase up to 11.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Hollencrest Capital Management bought a new stake in Flutter Entertainment during the 1st quarter valued at about $28,000. Rothschild Investment LLC bought a new stake in shares of Flutter Entertainment during the second quarter valued at approximately $37,000. CWM LLC purchased a new stake in shares of Flutter Entertainment in the second quarter valued at approximately $40,000. YHB Investment Advisors Inc. bought a new position in Flutter Entertainment in the first quarter worth approximately $45,000. Finally, Financial Perspectives Inc purchased a new position in Flutter Entertainment during the 1st quarter worth $102,000.

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.