Flutter Entertainment Faces Price Target Cuts Due To NFL Weakness, Prediction-Market Volatility

Flutter Entertainment (FLUT) has seen multiple price target cuts, with Benchmark noting that the shares have retraced due to concerns over prediction-market volatility and a soft start to the NFL season.

Benchmark cut its price target on Flutter Entertainment to $310 from $365 and maintained a ‘Buy’ rating, according to TheFly. The firm views the share pullback as one that presents "a highly attractive entry point in what remains the global leader in digital gaming."

The firm also said that it continues to view Flutter Entertainment as "best in class” and noted that the long-term secular growth story has not changed. “If anything, it has strengthened," Benchmark stated.

In September, Edwin Dorsey noted that the duopoly maintained by DraftKings (DKNG) and Flutter Entertainment is now being “disrupted by prediction markets like Kalshi, which often offer customers better odds with deeper order books.”

Retail sentiment on Flutter Entertainment dipped to ‘bearish’ territory from ‘neutral’ a day ago, with message volumes at ‘normal’ levels, according to data from Stocktwits.

Meanwhile, Bernstein lowered its price target on Flutter Entertainment to $330 from $340 and kept a ‘Market Perform’ rating. The firm is expecting a relatively mild third-quarter print for Flutter in early November, given it is likely to report trough revenue and earnings before interest, taxes, depreciation, and amortization (EBITDA) for the year.

The firm said that Flutter Entertainment is unlikely to give even preliminary 2026 guidance. Bernstein noted that near-term headwinds, including unfavorable outcomes in the early weeks of the NFL season, should be buffered by solid volume growth, demonstrating minimal cannibalization from prediction markets.

Shares of Flutter have declined over 3% this year but have gained nearly 10% in the last 12 months.  

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