Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) Receives $203.67 Consensus Target Price from Analysts

Shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) have been given an average recommendation of “Buy” by the ten brokerages that are currently covering the firm, MarketBeat.com reports. Two investment 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 1 year price target among brokerages that have updated their coverage on the stock in the last year is $203.6667.

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

Hedge Funds Weigh In On Futu

Several hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC bought a new stake in Futu in the first quarter valued at $235,000. Jones Financial Companies Lllp boosted its stake in shares of Futu by 442.4% in the 1st quarter. Jones Financial Companies Lllp now owns 640 shares of the company’s stock valued at $66,000 after purchasing an additional 522 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Futu by 3.7% in the 1st 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 bought a new stake in shares of Futu in the 1st quarter worth about $16,112,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Futu by 883.4% during the 1st 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 in the last quarter.

Futu Trading Down 0.9%

Shares of NASDAQ:FUTU opened at $178.49 on Thursday. The firm has a market capitalization of $24.84 billion, a PE ratio of 19.99, a PEG ratio of 0.52 and a beta of 0.20. Futu has a 1-year low of $70.60 and a 1-year high of $202.53. The business’s 50 day moving average is $171.82 and its 200-day moving average is $167.75.

Futu (NASDAQ:FUTU) last issued 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 return on equity of 30.59% and a net margin of 47.11%.The business had revenue of $822.80 million during the quarter, compared to analyst estimates of $631.51 million. On average, sell-side analysts predict that Futu will post 4.94 EPS for the current year.

Futu Company Profile

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.