Flutter Entertainment (NYSE:FLUT) Price Target Lowered to $300.00 at Needham & Company LLC

Flutter Entertainment (NYSE:FLUT) had its target price cut by equities research analysts at Needham & Company LLC from $325.00 to $300.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target indicates a potential upside of 38.90% from the company’s previous close.

A number of other brokerages have also weighed in on FLUT. Macquarie upped their target price on Flutter Entertainment from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Canaccord Genuity Group lifted their price target on shares of Flutter Entertainment from $330.00 to $340.00 and gave the company a “buy” rating in a report on Friday, August 8th. Bank of America restated a “neutral” rating and set a $250.00 target price (down previously from $325.00) on shares of Flutter Entertainment in a research note on Tuesday, November 4th. Peel Hunt downgraded shares of Flutter Entertainment from an “add” rating to a “hold” rating in a report on Friday, August 8th. Finally, Sanford C. Bernstein dropped their price target on shares of Flutter Entertainment from $330.00 to $325.00 and set a “market perform” rating for the company in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Flutter Entertainment presently has a consensus rating of “Moderate Buy” and an average price target of $323.56.

Flutter Entertainment Price Performance

Shares of Flutter Entertainment stock traded down $18.46 during trading on Thursday, reaching $215.99. The company’s stock had a trading volume of 1,532,948 shares, compared to its average volume of 2,322,193. The business has a 50 day moving average price of $257.11 and a 200-day moving average price of $268.97. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $38.04 billion, a P/E ratio of 106.40 and a beta of 1.84. Flutter Entertainment has a 12-month low of $196.88 and a 12-month high of $313.68.

Flutter Entertainment (NYSE:FLUT) last announced its earnings results on Wednesday, November 12th. The company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.87. Flutter Entertainment had a return on equity of 12.15% and a net margin of 2.96%.The firm had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the prior year, the business earned $1.27 earnings per share. The company’s revenue was up 16.8% on a year-over-year basis. Flutter Entertainment has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Flutter Entertainment will post 4.17 EPS for the current year.

Flutter Entertainment declared that its Board of Directors has initiated a share repurchase program on Friday, August 8th that allows the company to buyback $245.00 million in shares. This buyback authorization allows the company to buy up to 0.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity at Flutter Entertainment

In other Flutter Entertainment news, CEO Amy Howe sold 4,097 shares of Flutter Entertainment stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $305.91, for a total transaction of $1,253,313.27. Following the sale, the chief executive officer owned 69,850 shares of the company’s stock, valued at $21,367,813.50. The trade was a 5.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeremy Peter Jackson sold 2,112 shares of the stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $292.42, for a total transaction of $617,591.04. Following the completion of the transaction, the chief executive officer owned 31,944 shares of the company’s stock, valued at $9,341,064.48. This trade represents a 6.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.09% of the company’s stock.

Institutional Trading of Flutter Entertainment

A number of hedge funds have recently added to or reduced their stakes in the company. SVB Wealth LLC acquired a new position in Flutter Entertainment in the first quarter valued at $27,000. JFS Wealth Advisors LLC bought a new position in Flutter Entertainment in the 3rd quarter valued at about $27,000. ORG Partners LLC grew its stake in 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 during the period. Barrett & Company Inc. purchased a new position in shares of Flutter Entertainment in the 2nd quarter worth approximately $29,000. Finally, JCIC Asset Management Inc. bought a new position in Flutter Entertainment in the 3rd quarter worth $32,000.

Flutter Entertainment Company Profile

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.