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

Shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) have earned a consensus rating of “Buy” from the ten ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $205.0557.

Several brokerages have weighed in on FUTU. The Goldman Sachs Group raised Futu to a “buy” rating and set a $213.39 price target for the company in a report on Monday. Barclays boosted their target price on shares of Futu from $232.00 to $236.00 and gave the company an “overweight” rating in a research report on Thursday, November 20th. Zacks Research raised Futu from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Futu in a report on Thursday, January 22nd.

Institutional Trading of Futu

A number of institutional investors and hedge funds have recently modified their holdings of FUTU. AQR Capital Management LLC acquired a new stake in Futu during the 1st quarter worth $235,000. Jones Financial Companies Lllp increased its position in shares of Futu by 442.4% during the 1st quarter. Jones Financial Companies Lllp now owns 640 shares of the company’s stock worth $66,000 after purchasing an additional 522 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Futu by 3.7% during the first quarter. Goldman Sachs Group Inc. now owns 459,175 shares of the company’s stock valued at $46,997,000 after acquiring an additional 16,255 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in Futu in the 1st quarter valued at approximately $27,000. Finally, Public Employees Retirement System of Ohio grew its stake in shares of Futu by 3.4% in the second quarter. Public Employees Retirement System of Ohio now owns 9,635 shares of the company’s stock valued at $1,191,000 after buying an additional 314 shares in the last quarter.

Futu Price Performance

Shares of FUTU stock opened at $162.57 on Monday. The stock’s 50-day moving average is $169.70 and its 200 day moving average is $172.06. Futu has a 1-year low of $70.60 and a 1-year high of $202.53. The company has a market cap of $22.62 billion, a P/E ratio of 18.20, a PEG ratio of 0.42 and a beta of 0.43.

Futu (NASDAQ:FUTU) last posted its earnings results on Tuesday, November 18th. The company reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.39. Futu had a net margin of 47.11% and a return on equity of 30.59%. The company had revenue of $822.80 million during the quarter, compared to analysts’ expectations of $631.51 million. On average, 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.