Susquehanna Forecasts Strong Price Appreciation for Flutter Entertainment (NYSE:FLUT) Stock

Flutter Entertainment (NYSE:FLUT) had its target price hoisted by research analysts at Susquehanna from $273.00 to $286.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “positive” rating on the stock. Susquehanna’s price objective would indicate a potential upside of 7.12% from the company’s previous close.

FLUT has been the topic of a number of other research reports. Oppenheimer raised their target price on shares of Flutter Entertainment from $255.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. 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 on the stock. Bank of America started coverage on shares of Flutter Entertainment in a research report on Monday, October 14th. They set a “buy” rating and a $300.00 target price on the stock. Benchmark reiterated a “buy” rating and issued a $265.00 price target on shares of Flutter Entertainment in a report on Monday, October 14th. Finally, Barclays lifted their price target on shares of Flutter Entertainment from $263.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. Fourteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Flutter Entertainment has an average rating of “Buy” and a consensus price target of $296.08.

Flutter Entertainment Trading Up 0.6 %

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

Flutter Entertainment (NYSE:FLUT) last released its quarterly 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. As a group, analysts predict that Flutter Entertainment will post 4.72 EPS for the current fiscal year.

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

Institutional Investors Weigh In On Flutter Entertainment

Several hedge funds and other institutional investors have recently modified their holdings of FLUT. US Bancorp DE grew its position in shares of Flutter Entertainment by 71.7% during the 3rd quarter. US Bancorp DE now owns 237 shares of the company’s stock valued at $56,000 after buying an additional 99 shares during the last quarter. Bleakley Financial Group LLC boosted its stake in Flutter Entertainment by 4.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 3,105 shares of the company’s stock valued at $737,000 after purchasing an additional 136 shares during the period. Assenagon Asset Management S.A. boosted its stake in Flutter Entertainment by 3.0% during the 2nd 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 period. Rothschild Investment LLC acquired a new stake in shares of Flutter Entertainment in the 2nd quarter worth approximately $37,000. Finally, CWM LLC acquired a new stake in shares of Flutter Entertainment in the 2nd quarter worth approximately $40,000.

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.