Futu Holdings Limited (NASDAQ:FUTU) Receives $72.97 Consensus Target Price from Analysts

Shares of Futu Holdings Limited (NASDAQ:FUTU) have received a consensus rating of “Moderate Buy” from the seven brokerages that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $72.97.

Separately, Bank of America upped their price target 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.

Futu Trading Up 1.3 %

Shares of FUTU stock opened at $98.17 on Wednesday. The company has a market cap of $13.53 billion, a PE ratio of 25.37, a PEG ratio of 0.97 and a beta of 0.74. Futu has a 12-month low of $43.61 and a 12-month high of $130.50. The business’s fifty day simple moving average is $81.04 and its 200-day simple moving average is $71.87.

Futu (NASDAQ:FUTU) last released its quarterly earnings results on Tuesday, August 20th. The company reported $1.11 EPS for the quarter. Futu had a return on equity of 16.77% and a net margin of 39.27%. The company had revenue of $400.73 million during the quarter. On average, equities analysts forecast that Futu will post 4.78 earnings per share for the current year.

Institutional Trading of Futu

Hedge funds and other institutional investors have recently made changes to their positions in the business. Lifestyle Asset Management Inc. acquired a new stake in Futu during the 1st quarter worth about $246,000. Sequoia Financial Advisors LLC grew its holdings in Futu by 6.5% during the first quarter. Sequoia Financial Advisors LLC now owns 4,387 shares of the company’s stock worth $238,000 after acquiring an additional 269 shares during the period. BNP Paribas Financial Markets raised its position in Futu by 6.7% during the first quarter. BNP Paribas Financial Markets now owns 100,616 shares of the company’s stock valued at $5,448,000 after acquiring an additional 6,317 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Futu by 24.2% in the first quarter. Janney Montgomery Scott LLC now owns 10,318 shares of the company’s stock valued at $559,000 after acquiring an additional 2,011 shares during the period. Finally, Daiwa Securities Group Inc. boosted its position in Futu by 8.6% in the 1st quarter. Daiwa Securities Group Inc. now owns 3,800 shares of the company’s stock worth $206,000 after purchasing an additional 300 shares in the last quarter.

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.