Flutter Entertainment

FLUT

Market cap $19B

Raymond James sees more growth opportunities ahead for Okta Inc. (OKTA), according to the firm's latest upgrade on the company. Diane King Hall adds that dissipating headwinds and AI trends offer a bigger runway for the cybersecurity firm.

The investment bank slashes its price target by more than half, saying it has lost confidence in Flutter's ability to hit its own US profit targets. Citi has downgraded Flutter Entertainment PLC (LSE:FLTR, NYSE:FLUT), the FTSE 100 gambling group that owns FanDuel in the United States, from "buy" to "sell" and cut its price target from £158 to £68, a reduction of more than half, citing growing doubts about the pace of growth in its crucial American business.

Sports gambling platforms have contributed $41 million to a new federal super political action committee (PAC) this year, Bloomberg reported Wednesday (April 15), citing filings from the Federal Election Commission. FanDuel gave $19.5 million; DraftKings' parent company, $17.5 million; and Fanatics Sportsbook, $4 million, according to the report.

Flutter Entertainment trades at a discounted valuation despite strong global execution and dominant U.S. market share in online sports betting and iGaming. FY'25 revenues grew 17% and EBITDA 21%, but guidance reset for 2026 reflects U.S. slowdown, regulatory headwinds, and higher taxes, unsettling investors. FLUT is targeting $300 million in cost savings by 2027, aggressive share buybacks, and deleveraging toward 2.0–2.5x, supporting margin protection and capital returns.

The most notable cause of Flutter's decline is competition from prediction market platforms. This includes firms like Kalshi, which has a partnership with Robinhood Markets NASDAQ: HOOD.

Despite putting up wildly different performances lately, big names across semiconductors, entertainment, and e-commerce are indicating significant confidence in their outlooks through recent buyback announcements. This includes two beaten-down stocks that are looking to spend hundreds of millions on repurchases in relatively short order.

New platform introduces shared liquidity and expanded gameplay across three states NEW YORK, April 1, 2026 /PRNewswire/ -- FanDuel, the premier online gaming company in North America, today announced the launch of PokerStars exclusively on FanDuel, a new best-in-class poker experience available in Michigan, New Jersey and Pennsylvania. The new platform brings together FanDuel's market leading presence and the PokerStars legacy to deliver an elevated player experience through a new dedicated poker app and desktop site.

UConn's upset over Duke highlights how sportsbook profits rise when favorites lose, offering a potential boost for companies like DraftKings and Flutter Entertainment.

Flutter Entertainment PLC (LSE:FLTR, NYSE:FLUT)FanDuel Predicts app could generate $125 million in annual revenues not yet factored into company guidance or market consensus, according to Jefferies, which rates the global betting and gaming group a 'buy with a 16,000p price target. That's more than double the current share price, which sits at 7,636.95p, up 34.95p.

Shares of major gambling companies rose on Monday after US senators introduced legislation aimed at restricting sports betting through prediction markets, a move investors see as supportive of traditional sportsbooks. Flutter Entertainment, the parent of FanDuel, climbed 5%, while DraftKings gained 2.7%.