Futu (NASDAQ:FUTU) Rating Lowered to “Neutral” at Citigroup

Futu (NASDAQ:FUTU) was downgraded by analysts at Citigroup from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. They currently have a $95.00 price objective on the stock, up from their prior price objective of $79.00. Citigroup’s price target suggests a potential upside of 6.75% from the stock’s current price.

A number of other research analysts also recently issued reports on FUTU. Bank of America boosted their price objective on Futu from $80.20 to $90.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Morgan Stanley upgraded Futu from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $70.00 to $115.00 in a report on Monday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $85.07.

Futu Price Performance

FUTU opened at $88.99 on Tuesday. Futu has a fifty-two week low of $43.61 and a fifty-two week high of $130.50. The firm has a market capitalization of $12.26 billion, a price-to-earnings ratio of 22.99, a PEG ratio of 0.93 and a beta of 0.75. The company’s 50 day moving average price is $91.81 and its two-hundred day moving average price is $75.49.

Futu (NASDAQ:FUTU) last posted its quarterly earnings data on Tuesday, August 20th. The company reported $1.11 EPS for the quarter. The company had revenue of $400.73 million for the quarter. Futu had a net margin of 39.27% and a return on equity of 16.77%. As a group, equities research analysts predict that Futu will post 4.75 EPS for the current year.

Institutional Investors Weigh In On Futu

Several institutional investors have recently bought and sold shares of FUTU. Virtu Financial LLC boosted its holdings in Futu by 241.1% during the 3rd quarter. Virtu Financial LLC now owns 23,846 shares of the company’s stock worth $2,281,000 after acquiring an additional 16,855 shares during the last quarter. Toronto Dominion Bank grew its position in Futu by 61.8% in the 3rd quarter. Toronto Dominion Bank now owns 11,482 shares of the company’s stock worth $1,098,000 after purchasing an additional 4,387 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Futu by 3.3% during the third quarter. Geode Capital Management LLC now owns 545,949 shares of the company’s stock valued at $51,475,000 after acquiring an additional 17,513 shares during the last quarter. M&T Bank Corp bought a new stake in Futu during the third quarter worth $203,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Futu in the third quarter worth $373,000.

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.