Needham & Company LLC Has Lowered Expectations for Flutter Entertainment (NYSE:FLUT) Stock Price

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

A number of other research analysts have also recently commented on FLUT. BTIG Research decreased their price target on Flutter Entertainment from $321.00 to $271.00 and set a “buy” rating on the stock in a research report on Thursday. Bank of America reaffirmed a “neutral” rating and set a $250.00 price objective (down previously from $325.00) on shares of Flutter Entertainment in a research note on Tuesday, November 4th. Zacks Research cut Flutter Entertainment from a “hold” rating to a “strong sell” rating in a research note on Friday, October 31st. UBS Group reiterated a “buy” rating and issued a $360.00 price objective (up previously from $340.00) on shares of Flutter Entertainment in a report on Friday, August 8th. Finally, Benchmark decreased their price target on Flutter Entertainment from $365.00 to $310.00 and set a “buy” rating for the company in a research note on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Flutter Entertainment has a consensus rating of “Moderate Buy” and an average target price of $323.56.

Flutter Entertainment Price Performance

Shares of NYSE FLUT traded down $18.46 during midday 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 company has a 50 day moving average price of $257.11 and a 200 day moving average price of $268.97. Flutter Entertainment has a one year low of $196.88 and a one year high of $313.68. The company has a market cap of $38.04 billion, a price-to-earnings ratio of 106.40 and a beta of 1.84. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.95.

Flutter Entertainment (NYSE:FLUT) last issued its earnings results on Wednesday, November 12th. The company reported $1.64 EPS for the quarter, beating the consensus estimate of $0.77 by $0.87. Flutter Entertainment had a net margin of 2.96% and a return on equity of 12.15%. The company had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the previous year, the company earned $1.27 EPS. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. Flutter Entertainment has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Flutter Entertainment will post 4.17 EPS for the current year.

Flutter Entertainment declared that its board has initiated a stock buyback program on Friday, August 8th that allows the company to buyback $245.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 0.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Flutter Entertainment

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FLUT. ORG Partners LLC raised its stake in Flutter Entertainment by 43.0% in the third quarter. ORG Partners LLC now owns 143 shares of the company’s stock valued at $36,000 after buying an additional 43 shares during the period. MML Investors Services LLC grew its holdings in shares of Flutter Entertainment by 0.6% during the second quarter. MML Investors Services LLC now owns 7,081 shares of the company’s stock valued at $2,024,000 after buying an additional 45 shares during the last quarter. OneDigital Investment Advisors LLC lifted its position in shares of Flutter Entertainment by 1.2% during the third quarter. OneDigital Investment Advisors LLC now owns 4,057 shares of the company’s stock valued at $1,030,000 after purchasing an additional 49 shares in the last quarter. PARUS FINANCE UK Ltd lifted its position in shares of Flutter Entertainment by 1.5% during the 1st quarter. PARUS FINANCE UK Ltd now owns 3,350 shares of the company’s stock valued at $742,000 after buying an additional 50 shares during the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of Flutter Entertainment by 5.6% during the 3rd quarter. Versant Capital Management Inc now owns 943 shares of the company’s stock valued at $240,000 after purchasing an additional 50 shares during the period.

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.