Oppenheimer Issues Pessimistic Forecast for Flutter Entertainment (NYSE:FLUT) Stock Price

Flutter Entertainment (NYSE:FLUT) had its target price cut by research analysts at Oppenheimer from $280.00 to $210.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s target price points to a potential upside of 74.06% from the stock’s current price.

Several other equities research analysts have also commented on FLUT. Bank of America dropped their price objective on shares of Flutter Entertainment from $250.00 to $210.00 and set a “neutral” rating on the stock in a research note on Thursday, January 22nd. Texas Capital upgraded Flutter Entertainment to a “strong-buy” rating in a research note on Thursday, January 8th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $228.00 price target (down from $248.00) on shares of Flutter Entertainment in a research report on Wednesday, January 14th. Truist Financial set a $260.00 target price on shares of Flutter Entertainment in a report on Tuesday, January 13th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and set a $170.00 price target on shares of Flutter Entertainment in a report on Friday, February 6th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $265.60.

Flutter Entertainment Trading Up 0.7%

Shares of NYSE:FLUT traded up $0.81 on Thursday, hitting $120.65. The company had a trading volume of 2,067,378 shares, compared to its average volume of 3,849,280. The firm’s 50-day simple moving average is $178.58 and its two-hundred day simple moving average is $225.75. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.27. The firm has a market capitalization of $21.14 billion, a price-to-earnings ratio of -92.96, a P/E/G ratio of 0.24 and a beta of 1.88. Flutter Entertainment has a 1 year low of $114.74 and a 1 year high of $313.68.

Institutional Investors Weigh In On Flutter Entertainment

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Flutter Entertainment by 5.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,311 shares of the company’s stock valued at $290,000 after buying an additional 69 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Flutter Entertainment in the second quarter worth $405,000. Focus Partners Advisor Solutions LLC purchased a new stake in Flutter Entertainment during the second quarter valued at $242,000. Oppenheimer Asset Management Inc. bought a new position in Flutter Entertainment in the second quarter valued at about $1,962,000. Finally, Envestnet Asset Management Inc. boosted its position in Flutter Entertainment by 24.8% in the second quarter. Envestnet Asset Management Inc. now owns 68,772 shares of the company’s stock worth $19,652,000 after purchasing an additional 13,673 shares during the last quarter.

Flutter Entertainment Company Profile

Flutter Entertainment plc is a global sports betting and gaming company that operates a portfolio of consumer-facing brands and digital platforms. The company’s primary activities include online sports betting, casino gaming, poker, and daily fantasy sports, delivered through web and mobile applications as well as retail betting locations in select markets. Flutter focuses on product development, customer acquisition and engagement, and compliance with local gambling regulations across the jurisdictions where it operates.

Flutter’s brand portfolio includes well-known names in different regional markets, such as FanDuel in the United States, PokerStars, Betfair, Paddy Power and Sky Betting & Gaming in Europe and elsewhere.