JMP Securities Raises Flutter Entertainment (NYSE:FLUT) Price Target to $287.00

Flutter Entertainment (NYSE:FLUT - Free Report) had its target price hoisted by JMP Securities from $255.00 to $287.00 in a report released on Monday, Benzinga reports. The firm currently has a market outperform rating on the stock.

Other equities analysts have also issued reports about the stock. BTIG Research upped their price objective on shares of Flutter Entertainment from $245.00 to $249.00 and gave the stock a buy rating in a report on Wednesday, August 14th. Barclays upped their price target on Flutter Entertainment from $263.00 to $275.00 and gave the stock an overweight rating in a research note on Thursday, September 26th. Susquehanna boosted their price objective on Flutter Entertainment from $230.00 to $273.00 and gave the company a positive rating in a report on Monday, October 7th. Oppenheimer increased their target price on Flutter Entertainment from $255.00 to $300.00 and gave the stock an outperform rating in a research note on Thursday, September 26th. Finally, Benchmark boosted their price target on shares of Flutter Entertainment from $255.00 to $265.00 and gave the stock a buy rating in a research note on Thursday, September 26th. Thirteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of Buy and an average price target of $275.92.

Flutter Entertainment Price Performance

FLUT stock traded up $10.60 during midday trading on Monday, hitting $230.10. 2,982,384 shares of the company's stock were exchanged, compared to its average volume of 1,067,511. Flutter Entertainment has a 1-year low of $148.00 and a 1-year high of $252.84. The business has a 50-day simple moving average of $218.09 and a two-hundred day simple moving average of $202.37.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last issued 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 business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.41 billion. As a group, research analysts anticipate that Flutter Entertainment will post 4.75 earnings per share for the current year.

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

Institutional Investors Weigh In On Flutter Entertainment

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