Flutter Entertainment Downgraded Amid Increased Competition
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 24 2024
0mins
Should l Buy FLUT?
Source: SeekingAlpha
Flutter Entertainment PLC's stock fell 4.54% and hit a 52-week low, reflecting investor concerns about its competitive position in the market.
The downgrade from Wells Fargo to Equalweight was driven by lower handle growth and increased promotional activities, with analysts anticipating disappointing earnings due to heightened competition in the sports betting sector. This news comes as DraftKings received an upgrade, further highlighting the disparity in market sentiment between the two companies.
As Flutter faces challenges from both market dynamics and competitive pressures, investors will be closely monitoring its upcoming earnings report to gauge the company's ability to navigate this tough landscape.
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Analyst Views on FLUT
Wall Street analysts forecast FLUT stock price to rise
26 Analyst Rating
23 Buy
3 Hold
0 Sell
Strong Buy
Current: 102.730
Low
228.00
Averages
296.77
High
381.46
Current: 102.730
Low
228.00
Averages
296.77
High
381.46
About FLUT
Flutter Entertainment plc is an online sports betting and iGaming operator. Its segments include the United States (U.S.), United Kingdom and Ireland (UKI), Australia and International. The U.S. segment offers sports betting, casino, DFS and horse racing wagering products to players across various states in the United States, mainly online but with sports betting services also provided through retail outlets and certain online products in the province of Ontario in Canada. The UKI segment offers sports betting (sportsbook), iGaming products and other products through its Sky Betting & Gaming, Paddy Power, Betfair and tombola brands. Its Australia segment offers online sports betting products through its Sportsbet brand. The International segment includes its operations in 100 global markets and offers sports betting, casino, poker, rummy and lottery, mainly online. This segment includes Sisal, PokerStars, Snai, Betfair International, Adjarabet, MaxBet, Betnacional, and other brands.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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