Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) Given Consensus Recommendation of “Buy” by Brokerages

Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) has been assigned an average rating of “Buy” from the nine research firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $210.5650.

A number of brokerages have weighed in on FUTU. The Goldman Sachs Group raised shares of Futu from a “neutral” rating to a “buy” rating and set a $213.39 price target on the stock in a research report on Monday, February 2nd. Weiss Ratings restated a “hold (c+)” rating on shares of Futu in a report on Thursday, January 22nd. Finally, Barclays decreased their price target on shares of Futu from $236.00 to $200.00 and set an “overweight” rating for the company in a research report on Monday, March 16th.

Hedge Funds Weigh In On Futu

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Futu by 805.2% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,126,633 shares of the company’s stock valued at $195,933,000 after purchasing an additional 1,002,171 shares during the period. Aspex Management HK Ltd lifted its holdings in Futu by 37.5% in the 4th quarter. Aspex Management HK Ltd now owns 3,371,597 shares of the company’s stock worth $553,650,000 after buying an additional 919,724 shares in the last quarter. AGF Management Ltd. acquired a new stake in shares of Futu during the third quarter valued at about $149,432,000. Arrowstreet Capital Limited Partnership increased its position in shares of Futu by 113.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,544,025 shares of the company’s stock worth $190,826,000 after acquiring an additional 822,343 shares during the last quarter. Finally, Tredje AP fonden lifted its stake in shares of Futu by 3,579.1% in the third quarter. Tredje AP fonden now owns 688,000 shares of the company’s stock worth $119,650,000 after acquiring an additional 669,300 shares in the last quarter.

Futu Trading Down 1.9%

Shares of Futu stock opened at $131.37 on Tuesday. The business’s fifty day moving average price is $150.48 and its 200 day moving average price is $164.99. Futu has a twelve month low of $70.60 and a twelve month high of $202.53. The stock has a market capitalization of $18.28 billion, a P/E ratio of 12.78, a PEG ratio of 0.77 and a beta of 0.38.

Futu (NASDAQ:FUTU) last announced its quarterly earnings results on Thursday, March 12th. The company reported $3.07 EPS for the quarter, topping the consensus estimate of $3.06 by $0.01. The company had revenue of $827.15 million during the quarter, compared to analyst estimates of $788.73 million. Futu had a return on equity of 32.24% and a net margin of 49.63%. As a group, 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.