Futu (NASDAQ:FUTU) Given New $170.00 Price Target at JPMorgan Chase & Co.

Futu (NASDAQ:FUTU) had its price objective raised by JPMorgan Chase & Co. from $160.00 to $170.00 in a research note published on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts have also commented on FUTU. Morgan Stanley upgraded shares of Futu from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $70.00 to $115.00 in a report on Monday, November 18th. Citigroup downgraded shares of Futu from a “buy” rating to a “neutral” rating and upped their target price for the stock from $79.00 to $95.00 in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Futu currently has an average rating of “Moderate Buy” and a consensus target price of $107.00.

Futu Trading Up 10.2 %

Shares of NASDAQ FUTU opened at $118.47 on Friday. Futu has a 12 month low of $51.80 and a 12 month high of $130.88. The firm has a market capitalization of $16.32 billion, a PE ratio of 29.04, a price-to-earnings-growth ratio of 0.79 and a beta of 0.78. The firm has a fifty day simple moving average of $101.39 and a two-hundred day simple moving average of $91.00.

Institutional Trading of Futu

Hedge funds and other institutional investors have recently modified their holdings of the business. Sumitomo Mitsui Trust Group Inc. grew its position in Futu by 14.8% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 117,561 shares of the company’s stock valued at $11,245,000 after purchasing an additional 15,127 shares during the last quarter. Y Intercept Hong Kong Ltd grew its position in Futu by 136.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 42,149 shares of the company’s stock valued at $4,032,000 after purchasing an additional 24,355 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Futu by 127.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 52,530 shares of the company’s stock valued at $5,024,000 after purchasing an additional 29,401 shares during the last quarter. Natixis Advisors LLC purchased a new stake in Futu during the 3rd quarter valued at about $1,100,000. Finally, Monolith Management Ltd purchased a new stake in Futu during the 3rd quarter valued at about $6,217,000.

Futu Company Profile

Futu Holdings Limited provides digitalized securities brokerage and wealth management product distribution service in Hong Kong and internationally. It offers online financial services, including securities and derivative trades brokerage, margin financing and fund distribution services through its Futubull and Moomoo digital platforms.