Canaccord Thinks the Selloff in Gambling Stocks is Overdone, Retains Buy Rating on Flutter Entertainment (FLUT)

Flutter Entertainment plc (NYSE:FLUT) is 1 of the 11 Best Beaten Down Growth Stocks to Buy Now.

Canaccord chopped its people terms connected Flutter Entertainment by 10% connected February 3 to $270 (from $300). Despite the TP reduction, it retained its Buy standing connected FLUT’s shares. The steadfast noted that capitalist sentiment connected integer gambling stocks soured successful January, owed to authorities reports showing slowing maturation successful handles (total $ bets) successful December (which apt worsened successful January), starring to a selloff. Canaccord, however, thinks that this was an overreaction by the market, arsenic higher clasp rates (% of $ bets earned arsenic gross by a gambling operator) much than offset the grip decline. Nonetheless, the steadfast believes that Flutter’s existent price, combined with the lowered expectations from the market, provides an charismatic introduction constituent for investors today.

Pixabay/Public Domain

On the taxable of grip and clasp rates, the Nevada Gaming Control Board released its December 2025 statistic connected January 28. The study showed full grip for December 2025 of $747 million, which is 9.3% little than the $824 cardinal recorded the anterior year. Despite this diminution successful full bets, gross roseate 351.6% to $68 cardinal (from $15 million), arsenic the clasp complaint improved to 9.05% from 1.81%.

US-wide figures showed a akin trend. Compiled information from 35 states showed a full grip for December 2025 of $13.5 billion, which is 14.4% little than the $15.8 cardinal recorded the erstwhile year. Despite this diminution successful full bets, gross roseate 78.4% to $1.7 cardinal (from $0.9 billion), arsenic the clasp complaint improved to 12.3% (from 5.9%).

Flutter Entertainment plc (NYSE:FLUT) is an online betting and gaming company, operating chiefly successful the United States, the UK, Ireland, and Australia. The institution is based successful New York, New York, and was founded successful 1988.

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Disclosure: None. This nonfiction is primitively published astatine Insider Monkey.