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

Futu Holdings Limited (NASDAQ:FUTU) has received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $72.97.

Separately, Bank of America lifted their price target on shares of Futu from $80.20 to $90.00 and gave the company a “buy” rating in a research note on Friday.

Futu Trading Up 11.6 %

FUTU stock opened at $95.65 on Friday. Futu has a 1-year low of $43.61 and a 1-year high of $102.99. The firm has a market cap of $13.18 billion, a PE ratio of 25.30, a P/E/G ratio of 1.04 and a beta of 0.72. The business’s 50-day moving average price is $62.82 and its two-hundred day moving average price is $64.88.

Futu (NASDAQ:FUTU) last released its quarterly earnings data on Tuesday, August 20th. The company reported $1.11 earnings per share for the quarter. Futu had a return on equity of 16.77% and a net margin of 39.27%. The business had revenue of $400.73 million for the quarter. On average, analysts forecast that Futu will post 4.51 earnings per share for the current year.

Hedge Funds Weigh In On Futu

Hedge funds have recently made changes to their positions in the business. UniSuper Management Pty Ltd increased its position in shares of Futu by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock valued at $43,000 after acquiring an additional 400 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Futu during the 2nd quarter worth approximately $50,000. Barometer Capital Management Inc. bought a new stake in shares of Futu during the 4th quarter worth approximately $120,000. SG Americas Securities LLC acquired a new stake in shares of Futu in the 2nd quarter valued at approximately $123,000. Finally, Atlas Capital Advisors LLC bought a new position in shares of Futu in the second quarter valued at $142,000.

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.