Flutter Entertainment (NYSE:FLUT) Price Target Raised to $340.00 at Macquarie

Key Points

• Macquarie has raised the price target for Flutter Entertainment from $320.00 to $340.00, suggesting a potential upside of 20.89% from the current stock price.
• Flutter Entertainment reported earnings of $2.95 EPS for the last quarter, exceeding analysts' expectations of $2.08 and achieving a revenue of $4.19 billion.
• Overall, Flutter Entertainment currently has a consensus rating of "Moderate Buy" based on 21 buy ratings, 3 hold ratings, and 1 strong buy rating from various analysts.

Flutter Entertainment (NYSE:FLUT - Get Free Report) had its target price raised by stock analysts at Macquarie from $320.00 to $340.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Macquarie's price target would suggest a potential upside of 20.89% from the stock's current price.

FLUT has been the subject of a number of other research reports. UBS Group upped their target price on shares of Flutter Entertainment from $340.00 to $360.00 and gave the stock a "buy" rating in a research report on Friday. Oppenheimer lifted their target price on Flutter Entertainment from $310.00 to $350.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. JMP Securities raised their price target on Flutter Entertainment from $323.00 to $345.00 and gave the company a "market outperform" rating in a report on Friday. Truist Financial upped their price objective on Flutter Entertainment from $280.00 to $340.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Finally, BTIG Research reduced their price target on shares of Flutter Entertainment from $323.00 to $289.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $328.14.

Flutter Entertainment Stock Performance

FLUT stock traded down $24.82 during trading on Friday, reaching $281.25. The stock had a trading volume of 6,248,946 shares, compared to its average volume of 2,352,010. The firm has a market cap of $49.69 billion, a PE ratio of 97.32, a PEG ratio of 1.13 and a beta of 2.31. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.67. The stock's 50 day moving average is $282.57 and its two-hundred day moving average is $260.22. Flutter Entertainment has a 52 week low of $183.18 and a 52 week high of $313.68.

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

Insider Buying and Selling

In other news, Director Nancy Dubuc sold 265 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $244.96, for a total transaction of $64,914.40. Following the completion of the sale, the director owned 558 shares in the company, valued at $136,687.68. This represents a 32.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John A. Bryant sold 418 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $245.71, for a total value of $102,706.78. Following the sale, the director directly owned 5,956 shares of the company's stock, valued at approximately $1,463,448.76. This represents a 6.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,455 shares of company stock valued at $601,632 in the last quarter.

Institutional Trading of Flutter Entertainment

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Flutter Entertainment by 326.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,243 shares of the company's stock worth $742,000 after buying an additional 2,483 shares in the last quarter. Whalen Wealth Management Inc. acquired a new position in Flutter Entertainment in the 1st quarter valued at about $380,000. Rubicon Global Capital Ltd boosted its stake in shares of Flutter Entertainment by 56.1% during the 1st quarter. Rubicon Global Capital Ltd now owns 70,250 shares of the company's stock worth $15,564,000 after purchasing an additional 25,250 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of Flutter Entertainment by 0.6% during the first quarter. Bessemer Group Inc. now owns 397,297 shares of the company's stock valued at $88,021,000 after buying an additional 2,478 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its stake in Flutter Entertainment by 1.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,783 shares of the company's stock valued at $1,060,000 after purchasing an additional 67 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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