#4 - Flutter Entertainment (NYSE:FLUT)
Sports betting has become a dominant form of entertainment among many demographics. And Flutter Entertainment plc (NYSE: FLUT) is a name to watch. Flutter is domiciled in Ireland, but investors will know the company’s premiere online sportsbook FanDuel, which operates in the United States.
The company has been showing strong revenue growth since states began legalizing sports betting in 2018. In fact, if you back up to 2014, the company has increased revenue by over 10 times. In the short term, that growth may slow down, but only 38 states have legalized sports betting—Florida, Texas, and California are among the holdouts. Alongside its rising revenue, the company is also gradually expanding its margins.
Of course, sports betting is a highly regulated industry. But the biggest obstacle is competition. Flutter’s FanDuel doesn’t have a moat in any sense. However, many bettors place bets on more than one sportsbook, so it’s not a zero-sum game.
The Flutter Entertainment analyst forecasts on MarketBeat give the stock a $282.54 price target. That’s an upside of 13.4% from its closing price on November 11. And analysts are raising their targets before the company reports earnings on November 12.
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.
Read More - Current Price
- $265.45
- Consensus Rating
- Buy
- Ratings Breakdown
- 15 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $296.08 (11.5% Upside)
