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 rating of “Moderate Buy” by the seven research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $72.37.

Several brokerages have recently commented on FUTU. JPMorgan Chase & Co. raised shares of Futu from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $62.00 to $92.00 in a report on Tuesday, May 28th. Bank of America lifted their price objective on Futu from $81.00 to $85.80 and gave the company a “buy” rating in a report on Wednesday, May 29th.

Futu Price Performance

FUTU stock opened at $61.48 on Friday. Futu has a fifty-two week low of $43.61 and a fifty-two week high of $81.86. The stock has a market capitalization of $9.25 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 0.93 and a beta of 0.74. The business’s fifty day moving average price is $65.13 and its two-hundred day moving average price is $61.93.

Futu (NASDAQ:FUTU) last released its quarterly earnings results on Tuesday, May 28th. The company reported $0.95 EPS for the quarter. Futu had a net margin of 40.86% and a return on equity of 17.16%. The business had revenue of $331.27 million for the quarter. During the same period in the prior year, the business posted $1.08 earnings per share. Research analysts expect that Futu will post 4.59 EPS for the current year.

Hedge Funds Weigh In On Futu

Several hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC acquired a new stake in Futu in the second quarter valued at about $50,000. UniSuper Management Pty Ltd lifted its holdings in shares of Futu by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock worth $43,000 after acquiring an additional 400 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Futu during the 4th quarter valued at approximately $44,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Futu during the 1st quarter valued at approximately $65,000. Finally, SG Americas Securities LLC acquired a new position in Futu during the 2nd quarter worth approximately $123,000.

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.