Futu Holdings Limited (NASDAQ:FUTU) Receives $87.33 Consensus Target Price from Analysts

Futu Holdings Limited (NASDAQ:FUTU) has been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $87.33.

Several equities analysts have commented on the stock. Citigroup cut shares of Futu from a “buy” rating to a “neutral” rating and raised their price target for the company from $79.00 to $95.00 in a research report on Tuesday, November 19th. Bank of America increased 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. Finally, Morgan Stanley raised Futu from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $70.00 to $115.00 in a research note on Monday, November 18th.

Institutional Trading of Futu

Institutional investors have recently bought and sold shares of the business. Aspex Management HK Ltd lifted its position in shares of Futu by 2.4% during the 3rd quarter. Aspex Management HK Ltd now owns 4,553,023 shares of the company’s stock worth $435,497,000 after buying an additional 108,219 shares during the last quarter. Marshall Wace LLP lifted its position in 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 acquiring an additional 634,369 shares during the last quarter. Hhlr Advisors LTD. lifted its position in Futu by 46.8% in the third quarter. Hhlr Advisors LTD. now owns 1,051,089 shares of the company’s stock valued at $100,537,000 after acquiring an additional 335,000 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Futu by 502.2% in the third 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 acquiring an additional 465,961 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings 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 worth $51,475,000 after purchasing an additional 17,513 shares during the last quarter.

Futu Stock Performance

NASDAQ FUTU opened at $86.54 on Thursday. The firm has a market cap of $11.92 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 0.88 and a beta of 0.72. The firm has a 50 day simple moving average of $93.66 and a 200-day simple moving average of $76.93. Futu has a one year low of $43.61 and a one year high of $130.50.

Futu Announces Dividend

The company also recently disclosed a — dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 6th will be given a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, December 6th.

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.