Flutter Entertainment PLC: A Premier Choice for Digital Gaming Growth Amid Market Volatility

Analyst Mike Hickey from Benchmark Co. reiterated a Buy rating on Flutter Entertainment PLC and decreased the price target to $310.00 from $365.00.

Mike Hickey has given his Buy rating due to a combination of factors that highlight Flutter Entertainment PLC’s potential for growth despite recent setbacks. The company’s stock has experienced a significant pullback, trading over 20% below its 52-week high, which Hickey views as an attractive entry point. This decline is largely attributed to investor concerns over prediction-market volatility and a slow start to the NFL season. However, Hickey believes that Flutter’s long-term growth story remains robust and has even strengthened, given its leadership in digital gaming and competitive advantages in sports betting, iGaming, and emerging event-trading markets.
Furthermore, Hickey points to the upcoming launch of the FanDuel Markets app, powered by CME, as a major catalyst for future growth. This new market opportunity could potentially unlock a substantial total addressable market (TAM) of $200 billion, particularly if broader state legalization trends continue. Additionally, the convergence of sports, iGaming, and prediction markets is expected to expand the digital-gaming market significantly. Despite short-term challenges, Hickey maintains confidence in Flutter’s ability to capitalize on these opportunities, reinforcing his Buy rating and viewing the company as a premier choice for investors seeking exposure to the digital-gaming growth cycle.

In another report released today, J.P. Morgan also maintained a Buy rating on the stock with a £271.00 price target.

Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FLTR in relation to earlier this year.