Needham & Company LLC Issues Positive Forecast for Flutter Entertainment (NYSE:FLUT) Stock Price

Flutter Entertainment (NYSE:FLUT) had its target price increased by Needham & Company LLC from $270.00 to $300.00 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the stock. Morgan Stanley began coverage on shares of Flutter Entertainment in a research report on Thursday, August 22nd. They set an “overweight” rating and a $247.00 price target for the company. Berenberg Bank upgraded Flutter Entertainment to a “strong-buy” rating in a research note on Tuesday, August 27th. Barclays increased their target price on shares of Flutter Entertainment from $275.00 to $301.00 and gave the stock an “overweight” rating in a research report on Wednesday. Craig Hallum lifted their price objective on shares of Flutter Entertainment from $275.00 to $350.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, BTIG Research raised their target price on Flutter Entertainment from $249.00 to $305.00 and gave the stock a “buy” rating in a research note on Monday. Fourteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $296.08.

Flutter Entertainment Trading Up 7.0 %

Shares of Flutter Entertainment stock opened at $265.54 on Wednesday. The stock has a fifty day simple moving average of $230.80 and a 200 day simple moving average of $208.67. Flutter Entertainment has a 12-month low of $149.00 and a 12-month high of $266.22.

Flutter Entertainment (NYSE:FLUT) last posted its quarterly earnings data on Tuesday, August 13th. The company reported $2.33 EPS for the quarter, beating the consensus estimate of $1.07 by $1.26. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.41 billion. On average, research analysts anticipate that Flutter Entertainment will post 4.72 earnings per share for the current year.

Flutter Entertainment announced that its Board of Directors has initiated a stock buyback program on Wednesday, September 25th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to reacquire up to 11.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Flutter Entertainment

Several hedge funds and other institutional investors have recently bought and sold shares of FLUT. US Bancorp DE raised its stake in shares of Flutter Entertainment by 71.7% during the third quarter. US Bancorp DE now owns 237 shares of the company’s stock worth $56,000 after acquiring an additional 99 shares in the last quarter. Bleakley Financial Group LLC raised its position in Flutter Entertainment by 4.6% in the 3rd quarter. Bleakley Financial Group LLC now owns 3,105 shares of the company’s stock worth $737,000 after purchasing an additional 136 shares during the period. Assenagon Asset Management S.A. lifted its stake in Flutter Entertainment by 3.0% in the second quarter. Assenagon Asset Management S.A. now owns 5,760 shares of the company’s stock worth $1,053,000 after purchasing an additional 170 shares during the last quarter. Rothschild Investment LLC purchased a new stake in Flutter Entertainment during the second quarter valued at about $37,000. Finally, CWM LLC bought a new position in shares of Flutter Entertainment during the second quarter valued at about $40,000.

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.