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

Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) has earned a consensus rating of “Buy” from the ten brokerages that are covering the firm, Marketbeat reports. Two 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 twelve-month target price among analysts that have updated their coverage on the stock in the last year is $203.6667.

A number of research firms have weighed in on FUTU. Dbs Bank upgraded shares of Futu to a “moderate buy” rating in a research report on Thursday, September 4th. Weiss Ratings restated a “hold (c+)” rating on shares of Futu in a research note on Wednesday, October 8th. Zacks Research raised Futu from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. JPMorgan Chase & Co. boosted their price objective on Futu from $200.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Finally, Barclays lifted their target price on Futu from $232.00 to $236.00 and gave the company an “overweight” rating in a research note on Thursday, November 20th.

Hedge Funds Weigh In On Futu

Several institutional investors have recently bought and sold shares of FUTU. Geneos Wealth Management Inc. bought a new position in shares of Futu during the 1st quarter valued at about $27,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of Futu in the second quarter worth about $28,000. Cooper Investors PTY Ltd. bought a new position in Futu during the third quarter valued at approximately $29,000. Hantz Financial Services Inc. grew its holdings in Futu by 4,116.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 253 shares of the company’s stock valued at $31,000 after buying an additional 247 shares in the last quarter. Finally, First Horizon Advisors Inc. bought a new stake in Futu in the 2nd quarter worth approximately $35,000.

Futu Stock Performance

Shares of Futu stock opened at $164.66 on Friday. The stock’s fifty day moving average is $172.71 and its 200 day moving average is $161.85. Futu has a one year low of $70.60 and a one year high of $202.53. The stock has a market cap of $22.91 billion, a P/E ratio of 18.44, a P/E/G ratio of 0.54 and a beta of 0.19.

Futu (NASDAQ:FUTU) last issued its quarterly earnings results on Tuesday, November 18th. The company reported $2.93 EPS for the quarter, topping 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 analysts’ expectations of $631.51 million. 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.