Susquehanna Raises Flutter Entertainment (NYSE:FLUT) Price Target to $286.00

Flutter Entertainment (NYSE:FLUT - Free Report) had its target price increased by Susquehanna from $273.00 to $286.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a positive rating on the stock.

Several other analysts have also recently weighed in on FLUT. Bank of America assumed coverage on shares of Flutter Entertainment in a report on Monday, October 14th. They issued a "buy" rating and a $300.00 target price on the stock. UBS Group started coverage on Flutter Entertainment in a report on Friday, November 8th. They issued a "buy" rating and a $306.00 price target for the company. JMP Securities lifted their price objective on Flutter Entertainment from $255.00 to $287.00 and gave the company a "market outperform" rating in a research report on Monday, October 14th. Berenberg Bank upgraded Flutter Entertainment to a "strong-buy" rating in a report on Tuesday, August 27th. Finally, Moffett Nathanson boosted their target price on shares of Flutter Entertainment from $245.00 to $275.00 and gave the company a "buy" rating in a report on Thursday, September 26th. Fourteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $296.08.

Flutter Entertainment Stock Performance

Shares of NYSE FLUT traded up $17.35 during midday trading on Wednesday, hitting $265.52. The stock had a trading volume of 3,530,958 shares, compared to its average volume of 1,124,147. The stock has a 50 day simple moving average of $230.80 and a 200-day simple moving average of $208.67. Flutter Entertainment has a 1 year low of $149.00 and a 1 year high of $266.22.

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

Flutter Entertainment declared that its board has initiated a stock 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 buy up to 11.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Institutional Trading of Flutter Entertainment

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new position in shares of Flutter Entertainment during the first quarter worth approximately $1,272,000. Capital International Ltd. CA bought a new stake in shares of Flutter Entertainment in the 1st quarter worth approximately $2,180,000. Vanguard Group Inc. bought a new stake in Flutter Entertainment during the 1st quarter valued at $1,578,442,000. National Bank of Canada FI bought a new stake in shares of Flutter Entertainment in the first quarter worth about $31,514,000. Finally, DekaBank Deutsche Girozentrale bought a new position in Flutter Entertainment during the 1st quarter valued at approximately $22,498,000.

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.