Flutter Entertainment (NYSE:FLUT) Given New $270.00 Price Target at Canaccord Genuity Group

Flutter Entertainment (NYSE:FLUT) had its price target lowered by stock analysts at Canaccord Genuity Group from $300.00 to $270.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 65.90% from the company’s current price.

A number of other research analysts have also issued reports on the stock. Sanford C. Bernstein dropped their price objective on shares of Flutter Entertainment from $245.00 to $225.00 and set a “market perform” rating for the company in a report on Thursday, January 15th. Needham & Company LLC dropped their price target on shares of Flutter Entertainment from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Morgan Stanley cut their price target on shares of Flutter Entertainment from $352.00 to $315.00 and set an “overweight” rating on the stock in a report on Friday, December 12th. Texas Capital upgraded Flutter Entertainment to a “strong-buy” rating in a report on Thursday, January 8th. Finally, Bank of America cut their target price on Flutter Entertainment from $250.00 to $210.00 and set a “neutral” rating on the stock in a report on Thursday, January 22nd. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Flutter Entertainment has an average rating of “Moderate Buy” and a consensus price target of $276.05.

Flutter Entertainment Price Performance

Shares of FLUT opened at $162.75 on Tuesday. 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 stock has a market cap of $28.52 billion, a PE ratio of -125.19 and a beta of 1.89. Flutter Entertainment has a 12-month low of $160.72 and a 12-month high of $313.68. The business has a 50-day simple moving average of $204.55 and a two-hundred day simple moving average of $245.27.

Institutional Trading of Flutter Entertainment

Hedge funds have recently modified their holdings of the stock. ORG Partners LLC raised its holdings in Flutter Entertainment by 43.0% during the third quarter. ORG Partners LLC now owns 143 shares of the company’s stock worth $36,000 after buying an additional 43 shares during the last quarter. 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 increased 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 worth $1,030,000 after acquiring an additional 49 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Flutter Entertainment by 5.6% during the third quarter. Versant Capital Management Inc now owns 943 shares of the company’s stock worth $240,000 after acquiring an additional 50 shares in the last quarter. Finally, Stratos Wealth Partners LTD. raised its holdings in shares of Flutter Entertainment by 5.7% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 1,074 shares of the company’s stock worth $273,000 after acquiring an additional 58 shares during the last quarter.

About Flutter Entertainment

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.