Futu Holdings Limited Sponsored ADR (FUTU) – What Are Investment Firms Thinking About This Stock?

Shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) have been assigned a consensus rating of “Hold” from the six research firms that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $139.91.

Several research firms recently weighed in on FUTU. Wall Street Zen upgraded shares of Futu from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. Zacks Research upgraded Futu from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Finally, Weiss Ratings lowered Futu from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 9th.

Hedge Funds Weigh In On Futu

Several institutional investors have recently modified their holdings of the company. Kestra Advisory Services LLC lifted its position in Futu by 4.7% in the 3rd quarter. Kestra Advisory Services LLC now owns 6,358 shares of the company’s stock valued at $703,000 after purchasing an additional 284 shares during the last quarter. Commonwealth Equity Services LLC bought a new position in Futu in the 3rd quarter worth about $362,000. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Futu by 1.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 286,114 shares of the company’s stock valued at $31,630,000 after purchasing an additional 3,058 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Futu during the third quarter valued at approximately $2,577,000. Finally, Profund Advisors LLC raised its holdings in shares of Futu by 3.1% during the third quarter. Profund Advisors LLC now owns 4,028 shares of the company’s stock valued at $445,000 after buying an additional 123 shares during the last quarter.

Futu Price Performance

Shares of FUTU opened at $102.61 on Wednesday. The stock has a market capitalization of $14.38 billion, a PE ratio of 10.16, a price-to-earnings-growth ratio of 1.02 and a beta of 0.71. The business’s fifty day moving average price is $111.08 and its 200 day moving average price is $124.90. Futu has a 12-month low of $80.50 and a 12-month high of $192.26.

Futu (NASDAQ:FUTU) last released its earnings results on Thursday, August 20th. The company reported $3.33 earnings per share for the quarter, beating the consensus estimate of $2.98 by $0.35. Futu had a net margin of 42.95% and a return on equity of 28.20%. The firm had revenue of $852.66 million during the quarter, compared to analyst estimates of $786.07 million. As a group, research analysts anticipate that Futu will post 9.42 earnings per share for the current fiscal year.

About Futu

Futu Holdings Limited is a technology-driven financial services company that operates online brokerage and wealth management platforms. Through its Futubull and moomoo applications, the company provides investors with access to securities trading, market data, news, analysis tools, and other digital investing services.

Futu’s platforms support trading and investment-related services across products such as equities, exchange-traded funds, options, futures, and other securities, subject to local regulations.