Futu Holdings Limited (NASDAQ:FUTU) Given Average Rating of “Moderate Buy” by Brokerages

Futu Holdings Limited (NASDAQ:FUTU) has earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $62.83.

FUTU has been the topic of a number of recent research reports. Morgan Stanley raised Futu from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $40.00 to $50.00 in a research note on Thursday, January 4th. JPMorgan Chase & Co. downgraded Futu from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $64.00 to $62.00 in a report on Friday, March 15th. CLSA upgraded Futu from an “underperform” rating to an “outperform” rating and increased their price objective for the company from $50.00 to $65.00 in a report on Monday, March 18th. Citigroup dropped their price objective on Futu from $76.90 to $75.30 and set a “buy” rating on the stock in a report on Friday, March 15th. Finally, UBS Group raised Futu from a “neutral” rating to a “buy” rating and set a $67.00 price objective for the company in a research report on Friday, January 5th.

Futu Price Performance

Futu stock opened at $64.31 on Wednesday. The stock has a market capitalization of $9.67 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 0.75 and a beta of 0.80. Futu has a 12 month low of $35.91 and a 12 month high of $68.92. The business has a 50 day simple moving average of $56.76 and a 200-day simple moving average of $54.55.

Futu (NASDAQ:FUTU) last posted its quarterly earnings data on Thursday, March 14th. The company reported $0.81 EPS for the quarter. Futu had a return on equity of 18.46% and a net margin of 42.77%. The business had revenue of $303.84 million during the quarter, compared to analysts’ expectations of $374.14 million. On average, equities research analysts anticipate that Futu will post 4.47 EPS for the current fiscal year.

Institutional Trading of Futu

Several large investors have recently added to or reduced their stakes in FUTU. Headlands Technologies LLC acquired a new position in shares of Futu in the 4th quarter valued at $44,000. Advisors Preferred LLC acquired a new position in shares of Futu during the 4th quarter worth approximately $53,000. Assetmark Inc. bought a new position in Futu in the 3rd quarter valued at approximately $61,000. Newbridge Financial Services Group Inc. bought a new position in shares of Futu during the first quarter valued at $65,000. Finally, Barometer Capital Management Inc. acquired a new stake in Futu in the fourth quarter worth $120,000.

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.