Flutter Entertainment Shares Slide 50% to 2020 Levels, Analysts Eye Low $300s
Shares of Flutter Entertainment have fallen roughly 50% since early January to trade near $150, wiping out three years of gains and returning to 2020 levels. Despite this selloff, major brokerages have reiterated Buy ratings with price targets in the low $300s, citing strong US iGaming growth.
1. Stock Price Decline
Flutter Entertainment shares have declined about 50% since early January, erasing gains since 2020 and trading around a key $150 support zone. This marks the steepest multi-month drop in the company’s history, driven by sustained selling pressure and negative sentiment.
2. Selloff Drivers
Investors cite rising competition from pure prediction market platforms, which threaten sportsbook margins, alongside frustration over the lack of clear timelines for profitability. Aggressive marketing spend by rivals has kept customer acquisition costs elevated, further weighing on investor confidence.
3. Contrarian Indicators
Technical indicators show Flutter is deeply oversold, with momentum metrics at extreme lows and a major long-term support level near $150. Core US iGaming revenue continues to grow strongly year over year, underpinning a potential recovery thesis.
4. Analyst Outlook
Leading brokerages including Canaccord Genuity, Stifel, Oppenheimer and Barclays have maintained Buy ratings and set price targets in the low $300s. Analysts highlight Flutter’s global scale, diversification and strategic investments in prediction markets as catalysts for restoring investor confidence.