UBS Group Issues Positive Forecast for Futu (NASDAQ:FUTU) Stock Price

Futu (NASDAQ:FUTU) had its price objective hoisted by stock analysts at UBS Group from $130.00 to $136.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price objective would suggest a potential upside of 15.23% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. upped their target price on shares of Futu from $160.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday. Morgan Stanley raised shares of Futu from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $70.00 to $115.00 in a research note on Monday, November 18th. Finally, Citigroup cut shares of Futu from a “buy” rating to a “neutral” rating and upped their target price for the company from $79.00 to $95.00 in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $111.83.

Futu Trading Down 0.4 %

NASDAQ FUTU traded down $0.45 on Monday, reaching $118.03. The company’s stock had a trading volume of 3,363,241 shares, compared to its average volume of 2,522,556. The firm has a market cap of $16.26 billion, a PE ratio of 28.86, a price-to-earnings-growth ratio of 0.79 and a beta of 0.78. The business has a 50-day moving average price of $101.39 and a 200 day moving average price of $91.43. Futu has a 52 week low of $51.80 and a 52 week high of $130.88.

Hedge Funds Weigh In On Futu

A number of large investors have recently modified their holdings of the stock. Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of Futu during the fourth quarter worth approximately $969,000. Siemens Fonds Invest GmbH acquired a new position in shares of Futu during the fourth quarter worth approximately $301,000. Mackenzie Financial Corp lifted its position in shares of Futu by 2.0% during the fourth quarter. Mackenzie Financial Corp now owns 4,475 shares of the company’s stock worth $358,000 after purchasing an additional 87 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Futu during the fourth quarter worth approximately $11,482,000. Finally, Public Employees Retirement System of Ohio lifted its position in shares of Futu by 131.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 9,023 shares of the company’s stock worth $722,000 after purchasing an additional 5,123 shares in the last quarter.

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.