Futu (NASDAQ:FUTU) Stock Rating Upgraded by Zacks Research

Futu (NASDAQ:FUTU) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

FUTU has been the topic of a number of other reports. Weiss Ratings restated a “hold (c+)” rating on shares of Futu in a report on Wednesday, October 8th. Bank of America upped their price objective on shares of Futu from $172.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 21st. Dbs Bank upgraded shares of Futu to a “moderate buy” rating in a research report on Thursday, September 4th. Daiwa Capital Markets began coverage on shares of Futu in a research note on Monday, August 11th. They issued a “buy” rating and a $190.00 target price for the company. Finally, Citigroup boosted their price target on shares of Futu from $176.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, August 21st. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Futu currently has a consensus rating of “Buy” and a consensus target price of $190.43.

Futu Stock Performance

Shares of NASDAQ:FUTU opened at $179.54 on Monday. Futu has a one year low of $70.60 and a one year high of $202.53. The firm has a market cap of $24.98 billion, a PE ratio of 24.90, a price-to-earnings-growth ratio of 0.70 and a beta of 0.49. The firm’s 50 day simple moving average is $177.28 and its 200-day simple moving average is $146.09.

Institutional Investors Weigh In On Futu

A number of large investors have recently made changes to their positions in the stock. Atlas Capital Advisors Inc. acquired a new position in Futu during the first quarter worth $26,000. Geneos Wealth Management Inc. purchased a new position in shares of Futu during the 1st quarter worth $27,000. LFA Lugano Financial Advisors SA acquired a new stake in Futu during the second quarter worth about $28,000. Cooper Investors PTY Ltd. acquired a new stake in shares of Futu during the 3rd quarter worth about $29,000. Finally, Allianz SE purchased a new position in Futu during the first quarter worth about $30,000.

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.