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

Shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) have been given a consensus rating of “Buy” by the ten analysts that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $205.0557.

Several analysts have recently commented on the stock. Zacks Research raised shares of Futu from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Barclays increased their target price 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 reaffirmed a “hold (c+)” rating on shares of Futu in a research note on Thursday, January 22nd. Finally, The Goldman Sachs Group upgraded shares of Futu from a “neutral” rating to a “buy” rating and set a $213.39 price objective on the stock in a report on Monday, February 2nd.

Institutional Investors Weigh In On Futu

Several hedge funds and other institutional investors have recently modified their holdings of the company. CoreCap Advisors LLC raised its position in shares of Futu by 2.8% during the fourth quarter. CoreCap Advisors LLC now owns 2,455 shares of the company’s stock worth $403,000 after purchasing an additional 68 shares during the period. Lifestyle Asset Management Inc. increased its stake in Futu by 2.2% during the 4th quarter. Lifestyle Asset Management Inc. now owns 3,420 shares of the company’s stock valued at $562,000 after purchasing an additional 72 shares in the last quarter. Orion Porfolio Solutions LLC raised its holdings in Futu by 3.3% during the fourth quarter. Orion Porfolio Solutions LLC now owns 2,391 shares of the company’s stock worth $393,000 after buying an additional 77 shares during the last quarter. Diversify Wealth Management LLC lifted its stake in shares of Futu by 0.9% in the third quarter. Diversify Wealth Management LLC now owns 8,962 shares of the company’s stock valued at $1,559,000 after buying an additional 83 shares in the last quarter. Finally, Personal CFO Solutions LLC grew its holdings in shares of Futu by 5.1% during the fourth quarter. Personal CFO Solutions LLC now owns 1,713 shares of the company’s stock valued at $281,000 after buying an additional 83 shares during the last quarter.

Futu Price Performance

NASDAQ FUTU opened at $153.32 on Friday. The stock has a market capitalization of $21.33 billion, a P/E ratio of 17.17, a P/E/G ratio of 0.39 and a beta of 0.43. The business has a 50 day simple moving average of $163.31 and a 200 day simple moving average of $171.17. Futu has a one year low of $70.60 and a one year high of $202.53.

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.