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MarketBeat

Chris Markoch

Flutter Entertainment Can Be a Blue-Chip Sports Betting Stock

FLUT Flutter Flutter Entertainment Entertainment Fanduel MarketBeat NFL The United States

When you think about stocks that are up 200% in 2024, investors thoughts will quickly go to technology stocks and names like NVIDIA Corp. (NASDAQ: NVDA) and Palantir Technologies Inc. (NYSE: PLTR). But after a strong earnings report, there’s another name that may be joining that list, Flutter Entertainment plc (NYSE: FLUT).

Flutter is the parent company of the popular sports betting site, FanDuel. The company delivered a solid, but mixed, earnings report on November 12 that has pushed the stock to an all-time high of $269.29. Third quarter earnings of $3.25 billion was up 27% year-over-year and beat analysts’ estimates of $3.10 billion. Adjusted earnings per share of 43 cents were 11 cents below the consensus estimate of 52 cents.

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