Flutter Entertainment (NYSE:FLUT) Earns Buy Rating from Analysts at Needham & Company LLC

Equities researchers at Needham & Company LLC started coverage on shares of Flutter Entertainment (NYSE:FLUT) in a research report issued on Monday, Briefing.com reports. The brokerage set a “buy” rating and a $270.00 price target on the stock. Needham & Company LLC’s price objective points to a potential upside of 16.45% from the stock’s previous close.

Several other equities analysts have also commented on FLUT. Benchmark reaffirmed a “buy” rating and set a $255.00 target price on shares of Flutter Entertainment in a report on Wednesday, August 14th. Oppenheimer lifted their price objective on Flutter Entertainment from $240.00 to $255.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Wells Fargo & Company increased their target price on Flutter Entertainment from $218.00 to $224.00 and gave the company an “equal weight” rating in a 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 note on Wednesday, August 14th. Finally, Berenberg Bank upgraded Flutter Entertainment to a “strong-buy” rating in a research report on Tuesday, August 27th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued 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 price target of $248.80.

Flutter Entertainment Stock Up 1.1 %

Shares of FLUT stock opened at $231.86 on Monday. The business has a 50-day moving average price of $206.17 and a two-hundred day moving average price of $200.28. Flutter Entertainment has a 12-month low of $148.00 and a 12-month high of $234.54.

Flutter Entertainment (NYSE:FLUT) last released 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 firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.41 billion. On average, sell-side analysts forecast that Flutter Entertainment will post 4.75 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Hollencrest Capital Management bought a new position in shares of Flutter Entertainment in the 1st quarter worth about $28,000. Assenagon Asset Management S.A. lifted its holdings in shares of Flutter Entertainment by 3.0% during the second quarter. Assenagon Asset Management S.A. now owns 5,760 shares of the company’s stock valued at $1,053,000 after purchasing an additional 170 shares during the last quarter. Rothschild Investment LLC bought a new stake in shares of Flutter Entertainment in the 2nd quarter worth approximately $37,000. CWM LLC purchased a new stake in shares of Flutter Entertainment in the 2nd quarter worth approximately $40,000. Finally, YHB Investment Advisors Inc. bought a new position in Flutter Entertainment during the 1st quarter valued at approximately $45,000.

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.