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

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

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

Futu Price Performance

Shares of Futu stock opened at $188.11 on Thursday. The firm has a market cap of $26.17 billion, a P/E ratio of 21.06, a P/E/G ratio of 0.52 and a beta of 0.20. Futu has a fifty-two week low of $70.60 and a fifty-two week high of $202.53. The firm has a 50 day simple moving average of $171.70 and a 200 day simple moving average of $168.51.

Futu (NASDAQ:FUTU) last posted its quarterly earnings results 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. The company had revenue of $822.80 million for the quarter, compared to the consensus estimate of $631.51 million. Futu had a return on equity of 30.59% and a net margin of 47.11%. On average, sell-side analysts expect that Futu will post 4.94 EPS for the current year.

Hedge Funds Weigh In On Futu

A number of institutional investors have recently modified their holdings of the business. Lifestyle Asset Management Inc. raised its position in shares of Futu by 2.1% during the 2nd 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 during the last quarter. Diversify Wealth Management LLC increased its position in shares of Futu by 0.9% during the third quarter. Diversify Wealth Management LLC now owns 8,962 shares of the company’s stock worth $1,559,000 after acquiring an additional 83 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in 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 in the last quarter. Ensign Peak Advisors Inc raised its position in Futu by 2.7% in the 2nd quarter. Ensign Peak Advisors Inc now owns 3,800 shares of the company’s stock valued at $470,000 after buying an additional 100 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Futu by 4.3% in the third quarter. PNC Financial Services Group Inc. now owns 2,790 shares of the company’s stock worth $485,000 after purchasing an additional 116 shares in the last quarter.

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.