Futu Holdings Limited (NASDAQ:FUTU) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Futu Holdings Limited (NASDAQ:FUTU) have received an average rating of “Moderate Buy” from the seven research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $72.37.

A number of equities research analysts have recently issued reports on FUTU shares. CLSA raised shares of Futu from an “underperform” rating to an “outperform” rating and boosted their price objective for the company from $50.00 to $65.00 in a research report on Monday, March 18th. Citigroup reduced their target price on shares of Futu from $76.90 to $75.30 and set a “buy” rating on the stock in a report on Friday, March 15th. JPMorgan Chase & Co. upgraded shares of Futu from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $62.00 to $92.00 in a report on Tuesday, May 28th. Finally, Bank of America boosted their target price on shares of Futu from $81.00 to $85.80 and gave the stock a “buy” rating in a report on Wednesday, May 29th.

Futu Price Performance

Shares of FUTU stock opened at $67.48 on Thursday. Futu has a 1 year low of $38.25 and a 1 year high of $81.86. The firm has a fifty day moving average price of $69.34 and a 200-day moving average price of $58.25.

Futu (NASDAQ:FUTU) last issued its quarterly earnings data on Tuesday, May 28th. The company reported $0.95 earnings per share (EPS) for the quarter. Futu had a net margin of 40.86% and a return on equity of 17.16%. The firm had revenue of $331.27 million during the quarter. During the same period in the previous year, the firm earned $1.08 EPS. Sell-side analysts forecast that Futu will post 4.68 EPS for the current year.

Institutional Investors Weigh In On Futu

Several hedge funds have recently modified their holdings of the business. California State Teachers Retirement System lifted its position in Futu by 7.4% during the third quarter. California State Teachers Retirement System now owns 69,699 shares of the company’s stock valued at $4,029,000 after acquiring an additional 4,829 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Futu by 81.8% during the fourth quarter. BNP Paribas Financial Markets now owns 94,299 shares of the company’s stock valued at $5,152,000 after acquiring an additional 42,418 shares during the last quarter. HCEP Management Ltd lifted its position in Futu by 37.7% during the fourth quarter. HCEP Management Ltd now owns 400,000 shares of the company’s stock valued at $21,852,000 after acquiring an additional 109,499 shares during the last quarter. Prudential PLC raised its holdings in shares of Futu by 23.2% in the fourth quarter. Prudential PLC now owns 597,476 shares of the company’s stock worth $32,640,000 after buying an additional 112,497 shares during the last quarter. Finally, QRG Capital Management Inc. purchased a new position in shares of Futu in the third quarter worth $240,000.

About Futu

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.