Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) Receives $203.67 Consensus Price Target from Analysts

Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) has received a consensus rating of “Buy” from the ten ratings firms that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, six have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $203.6667.

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Futu from $200.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th. Barclays upped their price objective on shares of Futu from $232.00 to $236.00 and gave the stock an “overweight” rating in a research report on Thursday, November 20th. Weiss Ratings restated a “hold (c+)” rating on shares of Futu in a research report on Wednesday, October 8th. Bank of America boosted their target price on shares of Futu from $172.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 21st. Finally, Citigroup upped their price target on shares of Futu from $176.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, August 21st.

Futu Trading Up 2.2%

NASDAQ FUTU opened at $163.84 on Friday. The firm’s 50 day simple moving average is $172.51 and its 200 day simple moving average is $161.03. The firm has a market capitalization of $22.80 billion, a price-to-earnings ratio of 18.35, a P/E/G ratio of 0.53 and a beta of 0.19. Futu has a 1 year low of $70.60 and a 1 year high of $202.53.

Futu (NASDAQ:FUTU) last released its earnings results on Tuesday, November 18th. The company reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.39. Futu had a return on equity of 30.59% and a net margin of 47.11%.The firm had revenue of $822.80 million during the quarter, compared to analysts’ expectations of $631.51 million. On average, equities research analysts forecast that Futu will post 4.94 earnings per share for the current year.

Institutional Trading of Futu

Hedge funds have recently made changes to their positions in the company. Hhlr Advisors LTD. increased its stake in shares of Futu by 285.2% in the first quarter. Hhlr Advisors LTD. now owns 4,307,492 shares of the company’s stock valued at $440,872,000 after buying an additional 3,189,189 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Futu by 805.2% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,126,633 shares of the company’s stock worth $195,933,000 after acquiring an additional 1,002,171 shares during the last quarter. AGF Management Ltd. acquired a new position in Futu in the 3rd quarter valued at approximately $149,432,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Futu by 113.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,544,025 shares of the company’s stock valued at $190,826,000 after acquiring an additional 822,343 shares during the last quarter. Finally, Tredje AP fonden lifted its holdings in shares of Futu by 3,579.1% during the third quarter. Tredje AP fonden now owns 688,000 shares of the company’s stock worth $119,650,000 after purchasing an additional 669,300 shares during the period.

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.