Craig Hallum Raises Flutter Entertainment (NYSE:FLUT) Price Target to $350.00

Flutter Entertainment (NYSE:FLUT) had its target price lifted by equities research analysts at Craig Hallum from $275.00 to $350.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Craig Hallum’s price objective would indicate a potential upside of 31.09% from the company’s previous close.

FLUT has been the topic of several other research reports. Barclays boosted their price target on Flutter Entertainment from $275.00 to $301.00 and gave the company an “overweight” rating in a research note on Wednesday. JMP Securities lifted their target price on Flutter Entertainment from $255.00 to $287.00 and gave the company a “market outperform” rating in a research note on Monday, October 14th. UBS Group started coverage on shares of Flutter Entertainment in a report on Friday, November 8th. They issued a “buy” rating and a $306.00 price objective on the stock. Morgan Stanley started coverage on Flutter Entertainment in a research report on Thursday, August 22nd. They set an “overweight” rating and a $247.00 target price for the company. Finally, BTIG Research boosted their target price on Flutter Entertainment from $249.00 to $305.00 and gave the company a “buy” rating in a research note on Monday. Fourteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Flutter Entertainment has an average rating of “Buy” and a consensus target price of $296.08.

Flutter Entertainment Stock Up 0.6 %

FLUT opened at $267.00 on Wednesday. The business has a 50-day moving average of $231.87 and a 200-day moving average of $209.07. Flutter Entertainment has a fifty-two week low of $149.00 and a fifty-two week high of $269.90.

Flutter Entertainment (NYSE:FLUT) last posted 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 business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.41 billion. As a group, sell-side analysts anticipate that Flutter Entertainment will post 4.65 EPS for the current fiscal year.

Flutter Entertainment announced that its Board of Directors 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 reacquire up to 11.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Capital World Investors bought a new stake in Flutter Entertainment during the first quarter valued at approximately $2,880,796,000. Capital Research Global Investors bought a new position in Flutter Entertainment during the first quarter valued at approximately $2,418,032,000. Vanguard Group Inc. purchased a new position in shares of Flutter Entertainment during the first quarter worth approximately $1,578,442,000. Hsbc Holdings PLC lifted its holdings in shares of Flutter Entertainment by 10.9% in the 2nd quarter. Hsbc Holdings PLC now owns 6,189,639 shares of the company’s stock worth $1,131,079,000 after acquiring an additional 608,003 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of Flutter Entertainment in the 3rd quarter valued at $849,474,000.

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.