Oppenheimer Issues Positive Forecast for Flutter Entertainment (NYSE:FLUT) Stock Price

Flutter Entertainment (NYSE:FLUT) had its target price increased by Oppenheimer from $300.00 to $305.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Other analysts have also issued research reports about the stock. JMP Securities upped their target price on shares of Flutter Entertainment from $255.00 to $287.00 and gave the stock a “market outperform” rating in a research note on Monday, October 14th. Susquehanna upped their price objective on shares of Flutter Entertainment from $273.00 to $286.00 and gave the company a “positive” rating in a report on Wednesday. Needham & Company LLC started coverage on Flutter Entertainment in a research note on Monday, September 23rd. They set a “buy” rating and a $270.00 price objective on the stock. Moffett Nathanson boosted their price target on shares of Flutter Entertainment from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $295.00 price objective on shares of Flutter Entertainment in a report on Wednesday, October 30th. Fourteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Flutter Entertainment has an average rating of “Buy” and an average target price of $296.08.

Flutter Entertainment Trading Down 1.1 %

FLUT stock opened at $262.60 on Wednesday. Flutter Entertainment has a 1 year low of $149.00 and a 1 year high of $266.22. The company has a 50 day simple moving average of $230.80 and a 200 day simple moving average of $208.67.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings data 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 company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.41 billion. Research analysts forecast that Flutter Entertainment will post 4.72 EPS for the current fiscal year.

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

Hedge Funds Weigh In On Flutter Entertainment

Hedge funds have recently modified their holdings of the company. Rothschild Investment LLC bought a new stake in Flutter Entertainment during the 2nd quarter valued at approximately $37,000. CWM LLC bought a new position in shares of Flutter Entertainment during the second quarter worth $40,000. US Bancorp DE grew its stake in Flutter Entertainment by 71.7% during 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 in the last quarter. Venturi Wealth Management LLC bought a new stake in Flutter Entertainment in the 3rd quarter valued at $82,000. Finally, Hilltop National Bank purchased a new stake in Flutter Entertainment in the 2nd quarter worth $101,000.

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.