Flutter Entertainment (NYSE:FLUT) Given New $300.00 Price Target at Wells Fargo & Company

Flutter Entertainment (NYSE:FLUT) had its price objective hoisted by investment analysts at Wells Fargo & Company from $295.00 to $300.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 13.47% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. 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 price objective on the stock. Berenberg Bank upgraded Flutter Entertainment to a “strong-buy” rating in a report on Tuesday, August 27th. Susquehanna raised their price objective on Flutter Entertainment from $273.00 to $286.00 and gave the stock a “positive” rating in a research note on Wednesday. Bank of America began coverage on shares of Flutter Entertainment in a research note on Monday, October 14th. They set a “buy” rating and a $300.00 target price for the company. Finally, BTIG Research raised their price target on shares of Flutter Entertainment from $249.00 to $305.00 and gave the stock a “buy” rating in a research report on Monday. Fourteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Flutter Entertainment currently has a consensus rating of “Buy” and a consensus target price of $293.77.

Flutter Entertainment Stock Up 6.5 %

Shares of NYSE:FLUT traded up $16.21 during midday trading on Wednesday, reaching $264.38. The company had a trading volume of 2,193,493 shares, compared to its average volume of 1,118,068. The stock’s fifty day moving average price is $230.06 and its 200-day moving average price is $208.23. Flutter Entertainment has a one year low of $149.00 and a one year high of $266.22.

Flutter Entertainment (NYSE:FLUT) last released its earnings results on Tuesday, August 13th. The company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.07 by $1.26. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.41 billion. On average, equities research analysts anticipate that Flutter Entertainment will post 4.72 EPS for the current fiscal year.

Flutter Entertainment announced that its board has approved a stock repurchase plan on Wednesday, September 25th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 11.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Rothschild Investment LLC bought a new position in Flutter Entertainment in the 2nd quarter valued at about $37,000. CWM LLC bought a new stake in shares of Flutter Entertainment during the 2nd quarter worth about $40,000. US Bancorp DE lifted its stake in shares of Flutter Entertainment by 71.7% in the 3rd quarter. US Bancorp DE now owns 237 shares of the company’s stock worth $56,000 after acquiring an additional 99 shares during the period. Venturi Wealth Management LLC bought a new position in shares of Flutter Entertainment in the third quarter valued at approximately $82,000. Finally, Hilltop National Bank acquired a new position in shares of Flutter Entertainment during the second quarter valued at approximately $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.