The Goldman Sachs Group Begins Coverage on Flutter Entertainment (NYSE:FLUT)

Equities research analysts at The Goldman Sachs Group started coverage on shares of Flutter Entertainment (NYSE:FLUT) in a report released on Friday, MarketBeat reports. The firm set a “buy” rating and a $320.00 price target on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 16.14% from the stock’s current price.

A number of other research analysts have also recently commented on the stock. Oppenheimer raised their price target on shares of Flutter Entertainment from $300.00 to $305.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. BTIG Research raised their target price on shares of Flutter Entertainment from $249.00 to $305.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Wells Fargo & Company lifted their price target on shares of Flutter Entertainment from $295.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Berenberg Bank raised Flutter Entertainment to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, Needham & Company LLC lifted their target price on Flutter Entertainment from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Fifteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $297.79.

Flutter Entertainment Stock Performance

FLUT opened at $275.52 on Friday. The business has a fifty day moving average of $238.69 and a 200 day moving average of $212.59. Flutter Entertainment has a 52-week low of $150.65 and a 52-week high of $275.63.

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

Institutional Investors Weigh In On Flutter Entertainment

A number of large investors have recently modified their holdings of FLUT. Rothschild Investment LLC purchased a new stake in Flutter Entertainment during the 2nd quarter valued at about $37,000. CWM LLC acquired a new stake in Flutter Entertainment during the 2nd quarter valued at approximately $40,000. US Bancorp DE boosted its holdings in shares of Flutter Entertainment by 71.7% in the 3rd quarter. US Bancorp DE now owns 237 shares of the company’s stock valued at $56,000 after acquiring an additional 99 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Flutter Entertainment in the third quarter worth $82,000. Finally, Hilltop National Bank purchased a new position in shares of Flutter Entertainment during the second quarter worth $101,000.

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.