UBS Group Increases Futu (NASDAQ:FUTU) Price Target to $136.00

Futu (NASDAQ:FUTU) had its target price hoisted by UBS Group from $130.00 to $136.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also recently commented on FUTU. Morgan Stanley raised 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. Citigroup downgraded Futu from a “buy” rating to a “neutral” rating and upped their price objective for the company from $79.00 to $95.00 in a research note on Tuesday, November 19th. Finally, JPMorgan Chase & Co. upped their price objective on Futu from $160.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $111.83.

Futu Trading Down 1.1 %

FUTU stock opened at $117.11 on Monday. The stock has a market capitalization of $16.14 billion, a P/E ratio of 28.70, a price-to-earnings-growth ratio of 0.79 and a beta of 0.78. Futu has a 12 month low of $51.80 and a 12 month high of $130.88. The firm has a 50-day moving average price of $102.11 and a 200-day moving average price of $91.83.

Institutional Trading of Futu

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lansforsakringar Fondforvaltning AB publ acquired a new stake in Futu during the 4th quarter valued at approximately $969,000. Siemens Fonds Invest GmbH acquired a new stake in Futu during the 4th quarter valued at approximately $301,000. Mackenzie Financial Corp increased its position in Futu by 2.0% during the 4th quarter. Mackenzie Financial Corp now owns 4,475 shares of the company’s stock valued at $358,000 after purchasing an additional 87 shares during the period. GF Fund Management CO. LTD. acquired a new stake in Futu during the 4th quarter valued at approximately $11,482,000. Finally, Public Employees Retirement System of Ohio increased its position in Futu by 131.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 9,023 shares of the company’s stock valued at $722,000 after purchasing an additional 5,123 shares during the period.

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.