Flutter Entertainment (NYSE:FLUT) Price Target Raised to $286.00 at Susquehanna

Flutter Entertainment (NYSE:FLUT) had its price objective lifted by equities research analysts at Susquehanna from $273.00 to $286.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “positive” rating on the stock. Susquehanna’s price objective suggests a potential upside of 7.12% from the stock’s current price.

Several other research firms have also weighed in on FLUT. Wells Fargo & Company reiterated an “overweight” rating and issued a $295.00 price objective on shares of Flutter Entertainment in a research note on Wednesday, October 30th. Benchmark reissued a “buy” rating and issued a $265.00 price target on shares of Flutter Entertainment in a report on Monday, October 14th. Moffett Nathanson increased their price objective on shares of Flutter Entertainment from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. JMP Securities increased their price objective on shares of Flutter Entertainment from $255.00 to $287.00 and gave the company a “market outperform” rating in a research note on Monday, October 14th. Finally, Morgan Stanley initiated coverage on shares of Flutter Entertainment in a research report on Thursday, August 22nd. They set an “overweight” rating and a $247.00 target price for the company. Fourteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $296.08.

Flutter Entertainment Trading Up 0.6 %

NYSE FLUT opened at $267.00 on Wednesday. Flutter Entertainment has a 12 month low of $149.00 and a 12 month high of $269.90. The company’s 50 day simple moving average is $231.87 and its 200 day simple moving average is $209.07.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $3.41 billion. On average, sell-side analysts anticipate that Flutter Entertainment will post 4.72 EPS for the current fiscal year.

Flutter Entertainment declared that its Board of Directors has initiated a stock 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 buy up to 11.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FLUT. Rothschild Investment LLC acquired a new stake in Flutter Entertainment during the 2nd quarter worth approximately $37,000. CWM LLC bought a new position in Flutter Entertainment during the second quarter worth $40,000. US Bancorp DE boosted its position in shares of Flutter Entertainment by 71.7% in the third quarter. US Bancorp DE now owns 237 shares of the company’s stock valued at $56,000 after acquiring an additional 99 shares during the period. Venturi Wealth Management LLC acquired a new position in Flutter Entertainment in the third quarter valued at about $82,000. Finally, Hilltop National Bank acquired a new position in Flutter Entertainment in the second quarter valued at about $101,000.

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.