Barclays Forecasts Strong Price Appreciation for Flutter Entertainment (NYSE:FLUT) Stock

Key Points

• Barclays raised its target price for Flutter Entertainment's stock from $350.00 to $352.00, indicating a potential upside of 23.51% based on the stock's previous close.
• Flutter reported earnings per share of $2.95 for the last quarter, exceeding analysts' expectations of $2.08, with revenues reaching $4.19 billion.
• Overall, Flutter Entertainment has an average rating of "Moderate Buy", with 21 analysts recommending a buy and one a strong buy.

Flutter Entertainment (NYSE:FLUT - Get Free Report) had its target price increased by equities researchers at Barclays from $350.00 to $352.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Barclays's price objective would suggest a potential upside of 23.51% from the stock's previous close.

FLUT has been the topic of several other reports. Stifel Nicolaus boosted their price objective on shares of Flutter Entertainment from $315.00 to $353.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Citizens Jmp cut their price target on shares of Flutter Entertainment from $328.00 to $317.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Peel Hunt restated a "hold" rating on shares of Flutter Entertainment in a research report on Friday. JMP Securities boosted their target price on Flutter Entertainment from $301.00 to $323.00 and gave the stock a "market outperform" rating in a research report on Tuesday, July 15th. Finally, Jefferies Financial Group started coverage on Flutter Entertainment in a report on Tuesday, July 8th. They issued a "buy" rating and a $380.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $322.90.

Flutter Entertainment Trading Down 7.2%

Shares of Flutter Entertainment stock opened at $285.00 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $50.36 billion, a P/E ratio of 98.64, a PEG ratio of 1.13 and a beta of 2.31. Flutter Entertainment has a 1 year low of $183.18 and a 1 year high of $313.69. The company's fifty day moving average is $282.57 and its two-hundred day moving average is $260.22.

Flutter Entertainment (NYSE:FLUT - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $2.95 earnings per share for the quarter, topping analysts' consensus estimates of $2.08 by $0.87. The company had revenue of $4.19 billion during the quarter, compared to analysts' expectations of $3.06 billion. Flutter Entertainment had a return on equity of 11.76% and a net margin of 4.17%. The firm's revenue was up 16.0% compared to the same quarter last year. Analysts forecast that Flutter Entertainment will post 4.17 earnings per share for the current year.

Insider Buying and Selling at Flutter Entertainment

In other news, Director John A. Bryant sold 418 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $245.71, for a total transaction of $102,706.78. Following the completion of the sale, the director owned 5,956 shares in the company, valued at approximately $1,463,448.76. The trade was a 6.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alfred F. Hurley, Jr. sold 265 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $243.94, for a total transaction of $64,644.10. Following the sale, the director directly owned 3,518 shares of the company's stock, valued at approximately $858,180.92. This trade represents a 7.01% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,455 shares of company stock worth $601,632.

Hedge Funds Weigh In On Flutter Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the business. GPS Wealth Strategies Group LLC lifted its stake in shares of Flutter Entertainment by 1,375.0% during the first quarter. GPS Wealth Strategies Group LLC now owns 118 shares of the company's stock worth $26,000 after purchasing an additional 110 shares in the last quarter. SVB Wealth LLC acquired a new stake in Flutter Entertainment in the first quarter valued at approximately $27,000. ORG Partners LLC lifted its position in shares of Flutter Entertainment by 300.0% during the second quarter. ORG Partners LLC now owns 100 shares of the company's stock worth $28,000 after purchasing an additional 75 shares in the last quarter. Barrett & Company Inc. purchased a new stake in Flutter Entertainment during the 2nd quarter worth $29,000. Finally, Parallel Advisors LLC boosted its position in Flutter Entertainment by 78.9% in the 1st quarter. Parallel Advisors LLC now owns 136 shares of the company's stock valued at $30,000 after buying an additional 60 shares during the last quarter.

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.

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