Analysts Set Flutter Entertainment plc (NYSE:FLUT) PT at $246.44

Shares of Flutter Entertainment plc (NYSE:FLUT) have earned a consensus rating of “Buy” from the twelve ratings firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $246.44.

A number of brokerages recently issued reports on FLUT. 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 target price on the stock. Susquehanna raised their target price on shares of Flutter Entertainment from $222.00 to $230.00 and gave the stock a “positive” rating in a research report on Wednesday, August 14th. BTIG Research raised their target price on shares of Flutter Entertainment from $245.00 to $249.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Benchmark restated a “buy” rating and set a $255.00 target price on shares of Flutter Entertainment in a research report on Wednesday, August 14th. Finally, JMP Securities raised their target price on shares of Flutter Entertainment from $246.00 to $255.00 and gave the stock a “market outperform” rating in a research report on Wednesday, August 14th.

Institutional Investors Weigh In On Flutter Entertainment

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Maven Securities LTD purchased a new stake in Flutter Entertainment during the 2nd quarter worth $894,000. Susquehanna International Group Ltd. increased its position in shares of Flutter Entertainment by 124.2% in the 2nd quarter. Susquehanna International Group Ltd. now owns 56,534 shares of the company’s stock worth $10,310,000 after purchasing an additional 31,322 shares during the last quarter. Scientech Research LLC bought a new stake in shares of Flutter Entertainment in the 2nd quarter worth about $993,000. Sender Co & Partners Inc. bought a new stake in shares of Flutter Entertainment in the 2nd quarter worth about $1,083,000. Finally, Mackenzie Financial Corp increased its position in shares of Flutter Entertainment by 168.9% in the 2nd quarter. Mackenzie Financial Corp now owns 11,918 shares of the company’s stock worth $2,177,000 after purchasing an additional 7,486 shares during the last quarter.

Flutter Entertainment Price Performance

Shares of FLUT opened at $224.34 on Friday. The firm has a 50 day simple moving average of $203.91 and a 200-day simple moving average of $199.89. Flutter Entertainment has a 1-year low of $148.00 and a 1-year high of $226.40.

Flutter Entertainment (NYSE:FLUT) last issued its quarterly earnings data on Tuesday, August 13th. The company reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates 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 forecast that Flutter Entertainment will post 4.75 EPS for the current year.

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.