Futu Holdings Limited (NASDAQ:FUTU) Receives $107.00 Average Price Target from Brokerages

Futu Holdings Limited (NASDAQ:FUTU) has been given a consensus rating of “Moderate Buy” by the five analysts that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $121.20.

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Futu from $160.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, March 14th. UBS Group lifted their target price on shares of Futu from $130.00 to $136.00 and gave the company a “buy” rating in a report on Monday, March 17th.

Hedge Funds Weigh In On Futu

A number of institutional investors have recently added to or reduced their stakes in FUTU. Janney Montgomery Scott LLC lifted its holdings in Futu by 20.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 9,841 shares of the company’s stock worth $941,000 after buying an additional 1,650 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in Futu in the 3rd quarter worth $346,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Futu by 14.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 117,561 shares of the company’s stock worth $11,245,000 after buying an additional 15,127 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in Futu by 4.3% in the 3rd quarter. CIBC Asset Management Inc now owns 5,403 shares of the company’s stock worth $517,000 after buying an additional 222 shares in the last quarter. Finally, Natixis Advisors LLC acquired a new position in Futu in the 3rd quarter worth $1,100,000.

Futu Trading Down 2.5 %

NASDAQ:FUTU opened at $106.36 on Monday. The firm has a market capitalization of $14.66 billion, a price-to-earnings ratio of 26.07, a PEG ratio of 0.79 and a beta of 0.78. The firm’s fifty day simple moving average is $104.81 and its 200 day simple moving average is $92.76. Futu has a twelve month low of $51.80 and a twelve month high of $130.88.

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.