Futu Holdings Limited (NASDAQ:FUTU) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Futu Holdings Limited (NASDAQ:FUTU) have been given an average recommendation of “Moderate Buy” by the seven analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $85.07.

FUTU has been the subject of several recent research reports. Citigroup downgraded shares of Futu from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $79.00 to $95.00 in a research note on Tuesday. Bank of America lifted their price objective on shares of 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 upgraded 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 research report on Monday.

Futu Price Performance

NASDAQ:FUTU opened at $84.69 on Friday. The company has a market capitalization of $11.67 billion, a P/E ratio of 20.76, a P/E/G ratio of 0.89 and a beta of 0.75. The business has a fifty day simple moving average of $92.37 and a two-hundred day simple moving average of $75.56. Futu has a 1 year low of $43.61 and a 1 year high of $130.50.

Futu (NASDAQ:FUTU) last announced its quarterly earnings data on Tuesday, August 20th. The company reported $1.11 earnings per share for the quarter. The company had revenue of $400.73 million during the quarter. Futu had a return on equity of 17.33% and a net margin of 38.59%. As a group, analysts anticipate that Futu will post 4.81 earnings per share for the current year.

Institutional Trading of Futu

Several institutional investors and hedge funds have recently bought and sold shares of the company. APG Asset Management N.V. bought a new stake in shares of Futu during the 2nd quarter valued at about $496,000. Valliance Asset Management Ltd purchased a new stake in Futu in the third quarter valued at approximately $956,000. Sei Investments Co. lifted its position in Futu by 261.3% during the second quarter. Sei Investments Co. now owns 25,351 shares of the company’s stock valued at $1,663,000 after purchasing an additional 18,334 shares during the last quarter. Seven Eight Capital LP purchased a new position in Futu in the 2nd quarter worth approximately $1,956,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of 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 during the last quarter.

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.