Futu (NASDAQ:FUTU) Given Neutral Rating at JPMorgan Chase & Co.

Futu (NASDAQ:FUTU)‘s stock had its “neutral” rating reaffirmed by JPMorgan Chase & Co. in a research report issued to clients and investors on Friday, Marketbeat reports. They presently have a $87.00 price objective on the stock. JPMorgan Chase & Co.‘s price target indicates a potential downside of 3.24% from the company’s previous close.

FUTU has been the topic of a number of other research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Futu in a report on Thursday, January 22nd. Barclays reduced their price target on Futu from $236.00 to $200.00 and set an “overweight” rating for the company in a research report on Monday, March 16th. Zacks Research cut Futu from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 8th. Finally, The Goldman Sachs Group set a $205.00 price objective on shares of Futu in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Futu presently has a consensus rating of “Moderate Buy” and an average target price of $178.67.

Futu Stock Down 27.4%

NASDAQ FUTU traded down $33.94 during trading hours on Friday, hitting $89.92. The company had a trading volume of 34,399,132 shares, compared to its average volume of 1,974,407. The firm has a market cap of $12.60 billion, a P/E ratio of 8.88, a price-to-earnings-growth ratio of 0.87 and a beta of 0.52. Futu has a fifty-two week low of $80.50 and a fifty-two week high of $202.53. The business has a fifty day simple moving average of $146.73 and a 200-day simple moving average of $158.75.

Futu (NASDAQ:FUTU) last announced its quarterly earnings results on Sunday, February 15th. The company reported $3.07 earnings per share (EPS) for the quarter. Futu had a net margin of 49.63% and a return on equity of 32.24%. The company had revenue of $771.00 million during the quarter. Equities analysts forecast that Futu will post 11.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FUTU. Allianz Asset Management GmbH increased its stake in Futu by 936.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 51,620 shares of the company’s stock worth $8,977,000 after purchasing an additional 46,639 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in shares of Futu in the third quarter worth about $3,439,000. Veritas Asset Management LLP increased its position in shares of Futu by 40.9% in the third quarter. Veritas Asset Management LLP now owns 420,857 shares of the company’s stock worth $73,191,000 after acquiring an additional 122,207 shares in the last quarter. Lingohr Asset Management GmbH acquired a new stake in shares of Futu during the third quarter valued at approximately $2,922,000. Finally, Capital International Inc. CA purchased a new stake in shares of Futu in the 3rd quarter valued at approximately $39,369,000.

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.