Flutter Entertainment (NYSE:FLUT) Given New $350.00 Price Target at Craig Hallum

Flutter Entertainment (NYSE:FLUT) had its target price lifted by equities research analysts at Craig Hallum from $275.00 to $350.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Craig Hallum’s price target points to a potential upside of 33.89% from the stock’s current price.

Several other analysts have also recently issued reports on the stock. Moffett Nathanson upped their price objective on shares of Flutter Entertainment from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. BTIG Research increased their price target on shares of Flutter Entertainment from $249.00 to $305.00 and gave the company a “buy” rating in a research note on Monday. Susquehanna upped their price objective on Flutter Entertainment from $273.00 to $286.00 and gave the company a “positive” rating in a report on Wednesday. Needham & Company LLC began coverage on Flutter Entertainment in a research note on Monday, September 23rd. They set a “buy” rating and a $270.00 target price for the company. Finally, Berenberg Bank raised Flutter Entertainment to a “strong-buy” rating in a research report on Tuesday, August 27th. Fourteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Flutter Entertainment currently has a consensus rating of “Buy” and an average target price of $291.69.

Flutter Entertainment Trading Up 5.3 %

Shares of Flutter Entertainment stock traded up $13.24 on Wednesday, hitting $261.41. 1,792,207 shares of the company traded hands, compared to its average volume of 1,115,291. Flutter Entertainment has a 52 week low of $149.00 and a 52 week high of $265.38. The business has a 50-day simple moving average of $230.06 and a 200 day simple moving average of $208.23.

Flutter Entertainment (NYSE:FLUT) last released its quarterly earnings data on Tuesday, August 13th. The company reported $2.33 earnings per share 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 the consensus estimate of $3.41 billion. On average, equities analysts predict that Flutter Entertainment will post 4.72 earnings per share for the current fiscal year.

Flutter Entertainment announced that its board has approved a share repurchase program on Wednesday, September 25th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 11.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Flutter Entertainment

A number of large investors have recently bought and sold shares of the stock. Acadian Asset Management LLC acquired a new position in Flutter Entertainment in the first quarter valued at $1,272,000. Capital International Ltd. CA acquired a new stake in Flutter Entertainment in the 1st quarter valued at $2,180,000. Vanguard Group Inc. acquired a new position in shares of Flutter Entertainment during the first quarter worth about $1,578,442,000. National Bank of Canada FI purchased a new stake in shares of Flutter Entertainment during the 1st quarter valued at about $31,514,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Flutter Entertainment during the first 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.