Analysts Set Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) PT at $203.00

Shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) have been given an average rating of “Buy” by the ten brokerages that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $203.6667.

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Futu from $200.00 to $270.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Daiwa Capital Markets began coverage on Futu in a report on Monday, August 11th. They issued a “buy” rating and a $190.00 price objective for the company. Bank of America raised their target price on Futu from $172.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Futu in a research report on Wednesday, October 8th. Finally, Daiwa America raised Futu to a “strong-buy” rating in a research note on Tuesday, August 12th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FUTU. Hhlr Advisors LTD. boosted its stake in shares of Futu by 285.2% in the 1st quarter. Hhlr Advisors LTD. now owns 4,307,492 shares of the company’s stock valued at $440,872,000 after purchasing an additional 3,189,189 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Futu by 805.2% during 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 worth $195,933,000 after buying an additional 1,002,171 shares during the last quarter. Trivest Advisors Ltd acquired a new position in Futu in the first quarter valued at $98,651,000. AGF Management Ltd. bought a new stake in Futu during the third quarter valued at $149,432,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in Futu by 113.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,544,025 shares of the company’s stock valued at $190,826,000 after acquiring an additional 822,343 shares during the last quarter.

Futu Trading Up 5.0%

Futu stock opened at $161.52 on Wednesday. The stock has a 50-day moving average price of $174.33 and a two-hundred day moving average price of $152.93. Futu has a 12 month low of $70.60 and a 12 month high of $202.53. The company has a market capitalization of $22.47 billion, a PE ratio of 18.09, a P/E/G ratio of 0.54 and a beta of 0.49.

Futu (NASDAQ:FUTU) last released its quarterly earnings data on Tuesday, November 18th. The company reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.39. The company had revenue of $822.80 million during 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%. As a group, analysts predict that Futu will post 4.94 earnings per share for the current fiscal year.

About Futu

Futu Holdings Limited provides digitalized securities brokerage and wealth management product distribution service in Hong Kong and internationally. It offers online financial services, including securities and derivative trades brokerage, margin financing and fund distribution services through its Futubull and Moomoo digital platforms.