Home > Paddy Power Owner Flutter Entertainment Beats Boss’s Expectations

Paddy Power Owner Flutter Entertainment Beats Boss’s Expectations

Flutter Entertainment chief executive Peter Jackson says the company’s Q1 2021 performance beat expectations, so can it exceed your expectations going forward?

Thanks to more US states legalising sports betting, a booming US business has helped power Paddy Power owner Flutter Entertainment’s revenues to more than £3bn, beating analysts’ and the company’s boss’s expectations. Last year’s lockdowns previously helped the online poker part of the business, and this year’s post-lockdown revenue reduction of 15% isn’t as bad as expected.

The shares are up today, and they could go higher.

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What is Flutter Entertainment Plc?

You might not be familiar with the name Flutter Entertainment but I bet you’ve heard of some of its betting brands that include Paddy Power, Betfair, Sky Betting and Gaming, and PokerStars.

Should I Buy Flutter Entertainment Now?

To decide whether to buy Flutter Entertainment shares, let’s consider the technical (price chart) picture. The share price has risen — steadily at first, then more rapidly with increasing volatility — over 20 years. Whenever the price has pulled back, it’s then recovered to hit new highs, thus presenting an opportunity to buy on each dip. You might decide that the most recent dip is a good time to buy in light of the latest results.

Source: Yahoo! Finance

Flutter Entertainment Price Target 2021

This stock’s all-time high price of more than 17000 was hit as recently as March 2021, and today’s price action — up nearly 9% at the time of writing — suggests that it could soon be back at that level.

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