Flutter Entertainment (NYSE:FLUT) Given New $350.00 Price Target at Craig Hallum

Flutter Entertainment (NYSE:FLUT - Free Report) had its price target boosted by Craig Hallum from $275.00 to $350.00 in a research report released on Wednesday morning,Benzinga reports. Craig Hallum currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company restated an "overweight" rating and set a $295.00 price objective on shares of Flutter Entertainment in a research note on Wednesday, October 30th. Bank of America began coverage on Flutter Entertainment in a research note on Monday, October 14th. They set a "buy" rating and a $300.00 price objective on the stock. BTIG Research raised their price objective on Flutter Entertainment from $249.00 to $305.00 and gave the stock a "buy" rating in a research note on Monday. Needham & Company LLC began coverage on Flutter Entertainment in a research note on Monday, September 23rd. They set a "buy" rating and a $270.00 price objective on the stock. Finally, Moffett Nathanson raised their price objective on Flutter Entertainment from $245.00 to $275.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. Fourteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $296.08.

Flutter Entertainment Stock Performance

NYSE:FLUT traded up $17.37 during mid-day trading on Wednesday, hitting $265.54. 3,531,973 shares of the 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 fifty-two week low of $149.00 and a fifty-two week high of $266.22.

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

Flutter Entertainment announced that its Board of Directors has authorized a share repurchase program on Wednesday, September 25th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 11.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company's leadership believes its stock is undervalued.

Institutional Investors Weigh In On Flutter Entertainment

A number of hedge funds and other institutional investors have recently bought and sold shares of FLUT. Capital World Investors bought a new stake in Flutter Entertainment during the 1st quarter worth $2,880,796,000. Capital Research Global Investors bought a new stake in Flutter Entertainment during the 1st quarter worth $2,418,032,000. Vanguard Group Inc. bought a new stake in Flutter Entertainment during the 1st quarter worth $1,578,442,000. Massachusetts Financial Services Co. MA bought a new stake in Flutter Entertainment during the 3rd quarter worth $849,474,000. Finally, Bank of Montreal Can grew its position in Flutter Entertainment by 868.5% during the 3rd quarter. Bank of Montreal Can now owns 3,367,022 shares of the company's stock worth $798,927,000 after acquiring an additional 3,019,376 shares during the last quarter.

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.