Futu (NASDAQ:FUTU) Price Target Raised to $170.00

Futu (NASDAQ:FUTU) had its price target lifted by JPMorgan Chase & Co. from $160.00 to $170.00 in a research report released on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts also recently issued reports on the stock. Citigroup downgraded shares of Futu from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $79.00 to $95.00 in a research report on Tuesday, November 19th. Morgan Stanley upgraded shares of Futu from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $70.00 to $115.00 in a report on Monday, November 18th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Futu currently has an average rating of “Moderate Buy” and a consensus price target of $107.00.

Futu Stock Up 10.2 %

Shares of FUTU stock opened at $118.47 on Friday. The firm has a fifty day moving average of $101.39 and a 200-day moving average of $91.43. Futu has a 12-month low of $51.80 and a 12-month high of $130.88. The company has a market capitalization of $16.32 billion, a price-to-earnings ratio of 29.04, a P/E/G ratio of 0.79 and a beta of 0.78.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC lifted its stake in Futu by 1,245.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 444 shares of the company’s stock valued at $36,000 after acquiring an additional 411 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Futu by 77.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company’s stock valued at $36,000 after acquiring an additional 197 shares during the last quarter. Rakuten Securities Inc. lifted its stake in Futu by 239.8% in the fourth quarter. Rakuten Securities Inc. now owns 683 shares of the company’s stock valued at $55,000 after acquiring an additional 482 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Futu in the fourth quarter valued at $60,000. Finally, Assetmark Inc. lifted its stake in Futu by 15,200.0% in the fourth quarter. Assetmark Inc. now owns 765 shares of the company’s stock valued at $61,000 after acquiring an additional 760 shares during the last quarter.

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.