Moffett Nathanson Boosts Flutter Entertainment (NYSE:FLUT) Price Target to $275.00

Flutter Entertainment (NYSE:FLUT) had its price target upped by Moffett Nathanson from $245.00 to $275.00 in a report published on Thursday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other analysts also recently commented on the company. Barclays started coverage on Flutter Entertainment in a research note on Thursday, September 12th. They set an overweight rating and a $263.00 target price on the stock. Berenberg Bank upgraded Flutter Entertainment to a strong-buy rating in a research note on Tuesday, August 27th. Needham & Company LLC assumed coverage on Flutter Entertainment in a report on Monday, September 23rd. They set a buy rating and a $270.00 price target on the stock. BTIG Research increased their price target on Flutter Entertainment from $245.00 to $249.00 and gave the company a buy rating in a report on Wednesday, August 14th. Finally, Wells Fargo & Company increased their price target on Flutter Entertainment from $218.00 to $224.00 and gave the company an equal weight rating in a report on Wednesday, August 14th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Buy and a consensus target price of $260.45.

Flutter Entertainment Trading Down 2.3 %

Shares of FLUT opened at $238.33 on Thursday. The business’s fifty day simple moving average is $209.39 and its two-hundred day simple moving average is $200.98. Flutter Entertainment has a 12 month low of $148.00 and a 12 month high of $252.84.

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

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

Hedge Funds Weigh In On Flutter Entertainment

A number of institutional investors have recently bought and sold shares of FLUT. Hollencrest Capital Management bought a new position in Flutter Entertainment in the 1st quarter worth $28,000. Rothschild Investment LLC purchased a new stake in Flutter Entertainment in the 2nd quarter worth $37,000. CWM LLC purchased a new stake in Flutter Entertainment in the 2nd quarter worth $40,000. YHB Investment Advisors Inc. purchased a new stake in Flutter Entertainment in the 1st quarter worth $45,000. Finally, Hilltop National Bank purchased a new stake in Flutter Entertainment in the 2nd quarter worth $101,000.

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.