Flutter Entertainment (NYSE:FLUT) PT Raised to $273.00 at Susquehanna

Flutter Entertainment (NYSE:FLUT - Get Free Report) had its price target upped by research analysts at Susquehanna from $230.00 to $273.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a "positive" rating on the stock. Susquehanna's target price indicates a potential upside of 15.92% from the company's previous close.

Several other equities analysts have also recently weighed in on the company. Barclays raised their price objective on Flutter Entertainment from $263.00 to $275.00 and gave the company an "overweight" rating in a research note on Thursday, September 26th. Needham & Company LLC initiated 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. JMP Securities restated a "market outperform" rating and set a $255.00 price objective on shares of Flutter Entertainment in a research note on Thursday, September 26th. Wells Fargo & Company raised their price objective on Flutter Entertainment from $218.00 to $224.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 14th. Finally, Morgan Stanley initiated coverage on Flutter Entertainment in a research note on Thursday, August 22nd. They set an "overweight" rating and a $247.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Flutter Entertainment presently has an average rating of "Buy" and a consensus target price of $264.36.

Flutter Entertainment Price Performance

Shares of FLUT traded down $2.03 during trading hours on Monday, reaching $235.50. The stock had a trading volume of 646,914 shares, compared to its average volume of 1,033,442. Flutter Entertainment has a 12 month low of $148.00 and a 12 month high of $252.84. The firm has a 50-day simple moving average of $213.89 and a 200 day simple moving average of $201.58.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued its earnings results 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 firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.41 billion. Sell-side analysts anticipate that Flutter Entertainment will post 4.75 earnings per share for the current fiscal year.

Flutter Entertainment announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, September 25th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the company to purchase up to 11.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Flutter Entertainment

Several large investors have recently added to or reduced their stakes in FLUT. Capital World Investors purchased a new stake in Flutter Entertainment in the 1st quarter worth about $2,880,796,000. Capital Research Global Investors purchased a new position in Flutter Entertainment during the 1st quarter valued at about $2,418,032,000. Vanguard Group Inc. purchased a new position in Flutter Entertainment during the 1st quarter valued at about $1,578,442,000. Capital International Investors purchased a new position in Flutter Entertainment during the 1st quarter valued at about $507,170,000. Finally, Marshall Wace LLP grew its holdings in Flutter Entertainment by 339.2% during the 2nd quarter. Marshall Wace LLP now owns 1,076,739 shares of the company's stock valued at $196,354,000 after buying an additional 831,585 shares in 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.