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

Shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) have earned an average recommendation of “Buy” from the ten research firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $203.6667.

A number of equities research analysts recently weighed in on FUTU shares. Barclays boosted their price target on shares of Futu from $232.00 to $236.00 and gave the stock an “overweight” rating in a research note on Thursday, November 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Futu in a research report on Wednesday, October 8th. Finally, Zacks Research raised Futu from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd.

Hedge Funds Weigh In On Futu

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC bought a new stake in shares of Futu in the 1st quarter valued at about $235,000. Jones Financial Companies Lllp grew its holdings in Futu by 442.4% during the first quarter. Jones Financial Companies Lllp now owns 640 shares of the company’s stock valued at $66,000 after purchasing an additional 522 shares during the period. Goldman Sachs Group Inc. increased its stake in Futu by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 459,175 shares of the company’s stock valued at $46,997,000 after purchasing an additional 16,255 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in Futu in the first quarter worth $16,112,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Futu by 883.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 989,367 shares of the company’s stock worth $101,262,000 after purchasing an additional 888,760 shares during the period.

Futu Stock Down 1.8%

Shares of FUTU opened at $177.09 on Thursday. The stock’s fifty day simple moving average is $172.42 and its 200-day simple moving average is $166.85. The firm has a market capitalization of $24.64 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 0.53 and a beta of 0.20. Futu has a 12-month low of $70.60 and a 12-month high of $202.53.

Futu (NASDAQ:FUTU) last announced its quarterly earnings data 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. Analysts anticipate that Futu will post 4.94 EPS for the current year.

About Futu

Futu Holdings Ltd. is a technology-driven brokerage and wealth management company that provides online brokerage services, market data, and investment tools to retail and institutional clients. Headquartered in Hong Kong and listed on the NASDAQ under the ticker FUTU, the company operates digital trading platforms that combine order execution, real-time quotes, news, and research tools to serve active investors and wealth management customers.

The firm’s product suite includes brokerage access to equities, exchange-traded funds and derivatives across major markets, margin financing, initial public offering (IPO) subscription services, wealth management products and discretionary investment solutions.