Flutter Entertainment (NYSE:FLUT) Price Target Raised to $305.00

Flutter Entertainment (NYSE:FLUT - Free Report) had its target price raised by Oppenheimer from $300.00 to $305.00 in a report published on Wednesday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other research firms have also recently commented on FLUT. Berenberg Bank raised shares of Flutter Entertainment to a "strong-buy" rating in a research report on Tuesday, August 27th. Bank of America initiated coverage on shares of Flutter Entertainment in a research note on Monday, October 14th. They set a "buy" rating and a $300.00 price target for the company. JMP Securities raised their price target on shares of Flutter Entertainment from $255.00 to $287.00 and gave the stock a "market outperform" rating in a research note on Monday, October 14th. Benchmark restated a "buy" rating and set a $265.00 price target on shares of Flutter Entertainment in a research note on Monday, October 14th. Finally, Barclays raised their price target on shares of Flutter Entertainment from $263.00 to $275.00 and gave the stock an "overweight" rating in a research note on Thursday, September 26th. Fourteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $296.08.

Flutter Entertainment Stock Performance

Flutter Entertainment stock traded up $17.37 during trading hours on Wednesday, reaching $265.54. 3,531,973 shares of the company's stock were exchanged, compared to its average volume of 1,124,149. The firm's 50 day simple moving average is $230.80 and its 200 day simple moving average is $208.67. Flutter Entertainment has a twelve month low of $149.00 and a twelve month high of $266.22.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last released its quarterly earnings data on Tuesday, August 13th. The company reported $2.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $1.26. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.41 billion. As a group, analysts anticipate that Flutter Entertainment will post 4.72 EPS for the current year.

Flutter Entertainment declared that its board has authorized a share repurchase plan on Wednesday, September 25th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 11.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Rothschild Investment LLC purchased a new position in shares of Flutter Entertainment during the 2nd quarter valued at $37,000. CWM LLC bought a new stake in Flutter Entertainment in the 2nd quarter valued at $40,000. US Bancorp DE increased its holdings in 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 bought a new stake in Flutter Entertainment in the 3rd quarter valued at $82,000. Finally, Hilltop National Bank bought a new stake in Flutter Entertainment in the 2nd quarter valued at $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.