Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) Receives $203.00 Consensus Target Price from Brokerages

Shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) have earned a consensus rating of “Buy” from the ten brokerages that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $203.6667.

Several equities analysts recently weighed in on FUTU shares. Daiwa Capital Markets began coverage on shares of Futu in a report on Monday, August 11th. They issued a “buy” rating and a $190.00 price target on the stock. Daiwa America raised shares of Futu to a “strong-buy” rating in a report on Tuesday, August 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Futu in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised 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. Finally, Dbs Bank upgraded shares of Futu to a “moderate buy” rating in a research report on Thursday, September 4th.

Institutional Trading of Futu

A number of hedge funds have recently modified their holdings of FUTU. Lifestyle Asset Management Inc. raised its position in Futu by 2.1% during the second quarter. Lifestyle Asset Management Inc. now owns 3,971 shares of the company’s stock valued at $491,000 after acquiring an additional 83 shares in the last quarter. Diversify Wealth Management LLC boosted its position in Futu by 0.9% in the 3rd quarter. Diversify Wealth Management LLC now owns 8,962 shares of the company’s stock worth $1,559,000 after purchasing an additional 83 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in shares of Futu by 0.4% during the 2nd quarter. Asset Management One Co. Ltd. now owns 22,219 shares of the company’s stock worth $2,746,000 after purchasing an additional 94 shares during the period. Ensign Peak Advisors Inc grew its stake in shares of Futu by 2.7% during the 2nd quarter. Ensign Peak Advisors Inc now owns 3,800 shares of the company’s stock worth $470,000 after purchasing an additional 100 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Futu by 4.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,790 shares of the company’s stock valued at $485,000 after purchasing an additional 116 shares in the last quarter.

Futu Stock Performance

Shares of FUTU opened at $168.30 on Wednesday. The stock has a 50-day moving average of $174.00 and a two-hundred day moving average of $154.59. The stock has a market cap of $23.42 billion, a P/E ratio of 18.85, a P/E/G ratio of 0.61 and a beta of 0.49. Futu has a one year low of $70.60 and a one year 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, beating analysts’ consensus estimates of $2.54 by $0.39. Futu had a return on equity of 30.59% and a net margin of 47.11%.The business had revenue of $822.80 million for the quarter, compared to analyst estimates of $631.51 million. Analysts predict that Futu will post 4.94 EPS for the current fiscal year.

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.