Flutter Entertainment (NYSE:FLUT) PT Raised to $287.00

Flutter Entertainment (NYSE:FLUT) had its price target boosted by equities research analysts at JMP Securities from $255.00 to $287.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ price objective suggests a potential upside of 27.01% from the stock’s current price.

Other analysts also recently issued research reports about the company. Morgan Stanley initiated coverage on Flutter Entertainment in a research note on Thursday, August 22nd. They issued an “overweight” rating and a $247.00 price objective on the stock. Needham & Company LLC initiated coverage on Flutter Entertainment in a research note on Monday, September 23rd. They issued a “buy” rating and a $270.00 price objective on the stock. Berenberg Bank raised Flutter Entertainment to a “strong-buy” rating in a research note on Tuesday, August 27th. Barclays boosted their price objective on Flutter Entertainment from $263.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, September 26th. Finally, Craig Hallum boosted their price objective on Flutter Entertainment from $240.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Thirteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Flutter Entertainment has an average rating of “Buy” and an average target price of $275.92.

Flutter Entertainment Stock Performance

FLUT opened at $225.96 on Monday. Flutter Entertainment has a 12 month low of $148.00 and a 12 month high of $252.84. The stock’s 50 day moving average price is $218.99 and its 200 day moving average price is $202.57.

Flutter Entertainment (NYSE:FLUT) last posted its earnings results on Tuesday, August 13th. The company reported $2.33 EPS 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 analyst estimates of $3.41 billion. On average, equities analysts expect that Flutter Entertainment will post 4.75 EPS for the current fiscal year.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FLUT. Artemis Investment Management LLP purchased a new position in shares of Flutter Entertainment during the first quarter valued at $29,611,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Flutter Entertainment during the first quarter valued at $7,319,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Flutter Entertainment during the first quarter valued at $70,371,000. Financial Perspectives Inc purchased a new position in shares of Flutter Entertainment during the first quarter valued at $102,000. Finally, Yousif Capital Management LLC purchased a new position in shares of Flutter Entertainment during the first quarter valued at $649,000.

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.