Futu Holdings Limited (NASDAQ:FUTU) Receives $87.33 Average Target Price from Analysts

Shares of Futu Holdings Limited (NASDAQ:FUTU) have received a consensus rating of “Moderate Buy” from the six research firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $87.33.

A number of equities analysts have weighed in on the company. Citigroup lowered Futu from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $79.00 to $95.00 in a research note on Tuesday, November 19th. Morgan Stanley raised shares of Futu from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $70.00 to $115.00 in a research report on Monday, November 18th. Finally, Bank of America raised their price objective on shares of Futu from $80.20 to $90.00 and gave the stock a “buy” rating in a research report on Friday, September 27th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. APG Asset Management N.V. acquired a new stake in shares of Futu during the second quarter valued at about $496,000. Valliance Asset Management Ltd purchased a new position in shares of Futu during the 3rd quarter worth approximately $956,000. Sei Investments Co. increased its holdings in Futu by 261.3% in the 2nd quarter. Sei Investments Co. now owns 25,351 shares of the company’s stock valued at $1,663,000 after purchasing an additional 18,334 shares during the last quarter. Seven Eight Capital LP purchased a new stake in Futu in the second quarter valued at approximately $1,956,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Futu by 14.8% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 117,561 shares of the company’s stock worth $11,245,000 after purchasing an additional 15,127 shares in the last quarter.

Futu Trading Up 1.5 %

FUTU stock opened at $86.54 on Thursday. The firm has a 50-day moving average of $93.66 and a two-hundred day moving average of $76.93. Futu has a 12 month low of $43.61 and a 12 month high of $130.50. The company has a market cap of $11.92 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 0.88 and a beta of 0.72.

Futu Dividend Announcement

The firm also recently disclosed a — dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 6th will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, December 6th.

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.