JMP Securities Reaffirms “Market Outperform” Rating for Flutter Entertainment (NYSE:FLUT)

JMP Securities restated their market outperform rating on shares of Flutter Entertainment (NYSE:FLUT) in a report published on Wednesday morning, Benzinga reports. The firm currently has a $255.00 price objective on the stock.

Several other research analysts have also recently issued reports on the company. Susquehanna lifted their price objective on shares of Flutter Entertainment from $222.00 to $230.00 and gave the company a positive rating in a research note on Wednesday, August 14th. Benchmark reaffirmed a buy rating and issued a $255.00 price target on shares of Flutter Entertainment in a research note on Wednesday, August 14th. Morgan Stanley assumed coverage on shares of Flutter Entertainment in a report on Thursday, August 22nd. They issued an overweight rating and a $247.00 price objective for the company. Barclays began coverage on Flutter Entertainment in a report on Thursday, September 12th. They set an overweight rating and a $263.00 target price on the stock. Finally, Berenberg Bank upgraded Flutter Entertainment to a strong-buy rating in a research report on Tuesday, August 27th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Buy and an average target price of $246.44.

Flutter Entertainment Trading Up 1.1 %

Shares of NYSE:FLUT opened at $231.86 on Wednesday. Flutter Entertainment has a fifty-two week low of $148.00 and a fifty-two week high of $234.54. The company’s 50-day moving average price is $206.17 and its 200 day moving average price is $200.52.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $1.26. The business had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.41 billion. As a group, research analysts forecast that Flutter Entertainment will post 4.75 EPS for the current year.

Institutional Investors Weigh In On Flutter Entertainment

Institutional investors and hedge funds have recently modified their holdings of the stock. Hollencrest Capital Management acquired a new stake in shares of Flutter Entertainment during the first quarter worth $28,000. Rothschild Investment LLC acquired a new stake in shares of Flutter Entertainment during the second quarter worth $37,000. CWM LLC acquired a new stake in shares of Flutter Entertainment during the second quarter worth $40,000. YHB Investment Advisors Inc. acquired a new stake in shares of Flutter Entertainment during the first quarter worth $45,000. Finally, Financial Perspectives Inc acquired a new stake in shares of Flutter Entertainment during the first quarter worth $102,000.

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.