Citizens Cuts Flutter Entertainment (FLUT) Price Target to $129

Citizens reiterated its Market Outperform rating on Flutter Entertainment plc (NYSE: FLUT) on October 13, 2026, lowering its price target from $145 to $129. This adjustment reflects a more cautious outlook while still maintaining a positive stance on the company's potential performance.

Other Institutional Activity in Flutter Entertainment

Parvus Asset Management Jersey Ltd holds 15,191,321 shares worth about $1.15 billion, having increased its position by 3,576,273 shares, which is a 30.8% rise. CIBC Bancorp USA Inc. also grew its stake, adding 5,116,382 shares for a total of 12,579,017 shares valued at approximately $951 million, marking a 68.6% increase. Meanwhile, Capital World Investors trimmed its holdings by 280,645 shares, ending with 8,462,200 shares valued at around $640 million, a 3.2% decrease. Blackrock Inc. reduced its position by 1,246,047 shares to hold 8,165,182 shares worth about $617 million, down 13.2%. Caledonia (Private) Investments Pty Ltd also cut its stake, decreasing by 450,377 shares to 8,079,486 shares valued at about $611 million, a 5.3% decline.

Flutter Entertainment plc Stock Down 15.4%

Flutter's stock recently trades around $75.75 as of October 16, 2026. This price is significantly below the new target set by Citizens, indicating a potential opportunity for investors who believe in the company's long-term growth prospects. The stock has faced challenges, including a recent decline in analyst price targets, but still operates in a growing industry.

Recent Earnings

Flutter Entertainment reported trailing twelve-month revenue of approximately $17.16 billion, with a net margin of -4.4% and a return on equity of -7.9%. The company is set to announce its next earnings on November 12, 2026, which may provide further insight into its financial health and growth strategy.

Insider Buying and Selling at Flutter Entertainment plc

Kenneth Bryan Dart, an insider at Flutter, bought 302,400 shares at an average price of $98.29 on June 24, 2026, totaling about $29.72 million. He also purchased 430,612 shares at an average price of $96.75 on June 25, 2026, for a total value of around $41.66 million. These transactions suggest that insiders remain confident in the company's future despite recent stock price pressures.

Analysts Set New Price Targets

On October 7, 2026, Citigroup upgraded Flutter to a Buy rating with a price target of $91, down from $93. Macquarie maintained its Outperform rating with a target of $128, reduced from $150. Susquehanna also kept a Positive rating with a target of $100, down from $115, and Wedbush maintained its Outperform rating with a target of $110, reduced from $126. The consensus from analysts suggests cautious optimism, with a mix of upgrades and maintained ratings reflecting varying outlooks on the stock's potential.

About Flutter Entertainment

Flutter Entertainment plc is a major player in the global gambling industry, operating sports betting and gaming services across several countries including the U.S., U.K., Australia, and Italy. The company provides a variety of betting and gaming products, including sportsbooks and iGaming options like poker and casino games. This diverse portfolio positions Flutter to capitalize on the growing demand for online gambling and betting services.

Bottom Line

Investors will be watching Flutter closely as it prepares for its next earnings report on November 12, 2026. The adjustments in price targets from various analysts indicate a mix of caution and optimism, which will be important to monitor in the coming weeks.