Futu Holdings Limited (NASDAQ:FUTU) Receives $72.97 Consensus PT from Analysts

Shares of Futu Holdings Limited (NASDAQ:FUTU) have been given a consensus recommendation of “Moderate Buy” by the seven research firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $85.07.

A number of research analysts have weighed in on FUTU shares. Citigroup lowered shares of Futu from a “buy” rating to a “neutral” rating and raised their price objective for the company from $79.00 to $95.00 in a research note on Tuesday. Morgan Stanley raised shares of Futu from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $70.00 to $115.00 in a research report on Monday. Finally, Bank of America lifted their price target on Futu from $80.20 to $90.00 and gave the company a “buy” rating in a research note on Friday, September 27th.

Futu Stock Performance

Shares of NASDAQ:FUTU opened at $86.70 on Friday. Futu has a 52-week low of $43.61 and a 52-week high of $130.50. The business’s 50 day simple moving average is $91.22 and its two-hundred day simple moving average is $75.40. The firm has a market cap of $11.95 billion, a P/E ratio of 22.40, a PEG ratio of 0.93 and a beta of 0.75.

Futu (NASDAQ:FUTU) last issued its earnings results on Tuesday, August 20th. The company reported $1.11 earnings per share (EPS) for the quarter. The company had revenue of $400.73 million for the quarter. Futu had a return on equity of 16.77% and a net margin of 39.27%. On average, equities analysts forecast that Futu will post 4.75 earnings per share for the current fiscal year.

Institutional Trading of Futu

Institutional investors and hedge funds have recently modified their holdings of the business. UniSuper Management Pty Ltd grew its holdings in Futu by 100.0% during the first quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock valued at $43,000 after purchasing an additional 400 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Futu during the 2nd quarter worth $50,000. GAMMA Investing LLC increased its holdings in Futu by 181.5% in the 3rd quarter. GAMMA Investing LLC now owns 594 shares of the company’s stock worth $57,000 after acquiring an additional 383 shares during the last quarter. CWM LLC raised its stake in Futu by 67.7% in the 3rd quarter. CWM LLC now owns 743 shares of the company’s stock valued at $71,000 after acquiring an additional 300 shares during the period. Finally, Venturi Wealth Management LLC purchased a new stake in Futu during the third quarter valued at about $92,000.

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.