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

Futu Holdings Limited (NASDAQ:FUTU) has received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $72.97.

Separately, Bank of America raised their price target on Futu from $80.20 to $90.00 and gave the stock a “buy” rating in a report on Friday, September 27th.

Futu Trading Up 4.9 %

Shares of NASDAQ FUTU opened at $112.85 on Friday. The stock has a market capitalization of $15.55 billion, a price-to-earnings ratio of 29.85, a P/E/G ratio of 1.04 and a beta of 0.74. The firm’s 50-day moving average price is $64.76 and its 200-day moving average price is $65.59. Futu has a 12-month low of $43.61 and a 12-month high of $127.33.

Futu (NASDAQ:FUTU) last announced its quarterly earnings data on Tuesday, August 20th. The company reported $1.11 earnings per share (EPS) for the quarter. Futu had a return on equity of 16.77% and a net margin of 39.27%. The company had revenue of $400.73 million for the quarter. On average, equities analysts predict that Futu will post 4.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Creative Planning lifted its stake in shares of Futu by 27.8% in the 2nd quarter. Creative Planning now owns 13,253 shares of the company’s stock valued at $869,000 after purchasing an additional 2,884 shares during the last quarter. Scientech Research LLC purchased a new position in Futu during the second quarter worth about $220,000. MBB Public Markets I LLC acquired a new stake in shares of Futu during the second quarter valued at about $276,000. APG Asset Management N.V. purchased a new stake in shares of Futu in the 2nd quarter valued at approximately $496,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Futu in the 2nd quarter worth approximately $6,133,000.

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.