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

Futu Holdings Limited (NASDAQ:FUTU) has been assigned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $72.97.

Separately, Bank of America lifted their price objective on shares of Futu from $80.20 to $90.00 and gave the company a “buy” rating in a report on Friday, September 27th.

Hedge Funds Weigh In On Futu

Several institutional investors and hedge funds have recently modified their holdings of the stock. Marshall Wace LLP increased its holdings in shares of Futu by 71.5% in the second quarter. Marshall Wace LLP now owns 1,521,314 shares of the company’s stock valued at $99,813,000 after purchasing an additional 634,369 shares during the last quarter. E Fund Management Co. Ltd. acquired a new position in shares of Futu in the second quarter valued at $31,490,000. National Bank of Canada FI increased its holdings in shares of Futu by 3,253,333.3% in the second quarter. National Bank of Canada FI now owns 292,809 shares of the company’s stock valued at $18,790,000 after purchasing an additional 292,800 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Futu by 1,159.9% in the second quarter. Renaissance Technologies LLC now owns 292,300 shares of the company’s stock valued at $19,176,000 after purchasing an additional 269,100 shares during the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of Futu by 5,492.5% in the second quarter. Acadian Asset Management LLC now owns 265,869 shares of the company’s stock valued at $17,419,000 after purchasing an additional 261,115 shares during the last quarter.

Futu Trading Up 5.0 %

FUTU opened at $92.58 on Wednesday. The stock has a market capitalization of $12.76 billion, a PE ratio of 24.52, a PEG ratio of 1.65 and a beta of 0.74. Futu has a 1-year low of $43.61 and a 1-year high of $130.50. The firm has a 50-day moving average price of $78.96 and a two-hundred day moving average price of $70.91.

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 net margin of 39.27% and a return on equity of 16.77%. The business had revenue of $400.73 million for the quarter. On average, research analysts predict that Futu will post 4.28 EPS for the current year.

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.