Analysts Set Futu Holdings Limited (NASDAQ:FUTU) Price Target at $72.97

Shares of Futu Holdings Limited (NASDAQ:FUTU) have been given a consensus rating of “Moderate Buy” by the seven analysts that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $85.07.

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

Futu Price Performance

Futu stock opened at $86.70 on Friday. Futu has a one year low of $43.61 and a one year high of $130.50. The firm has a market capitalization of $11.95 billion, a P/E ratio of 22.40, a PEG ratio of 0.93 and a beta of 0.75. The business has a fifty day moving average price of $91.22 and a 200-day moving average price of $75.40.

Futu (NASDAQ:FUTU) last posted its quarterly earnings data on Tuesday, August 20th. The company reported $1.11 earnings per share (EPS) for the quarter. Futu had a return on equity of 16.77% and a net margin of 39.27%. The company had revenue of $400.73 million during the quarter. Sell-side analysts expect that Futu will post 4.75 earnings per share for the current fiscal year.

Institutional Trading of Futu

A number of institutional investors and hedge funds have recently bought and sold shares of FUTU. Marshall Wace LLP grew its holdings in shares of Futu by 71.5% during the second quarter. Marshall Wace LLP now owns 1,521,314 shares of the company’s stock valued at $99,813,000 after buying an additional 634,369 shares during the last quarter. E Fund Management Co. Ltd. bought a new position in Futu in the 2nd quarter valued at approximately $31,490,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Futu by 502.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 558,746 shares of the company’s stock valued at $53,444,000 after purchasing an additional 465,961 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Futu in the 3rd quarter worth $39,943,000. Finally, Veritas Asset Management LLP purchased a new position in shares of Futu in the third quarter worth $39,547,000.

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.