Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) Given Average Recommendation of “Buy” by Brokerages

Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) has earned a consensus rating of “Buy” from the nine ratings firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $210.5650.

A number of brokerages have recently weighed in on FUTU. The Goldman Sachs Group upgraded Futu from a “neutral” rating to a “buy” rating and set a $213.39 price target on the stock in a research report on Monday, February 2nd. Weiss Ratings restated a “hold (c+)” rating on shares of Futu in a research report on Thursday, January 22nd. Finally, Barclays dropped their target price on Futu from $236.00 to $200.00 and set an “overweight” rating on the stock in a research report on Monday, March 16th.

Futu Stock Up 3.7%

Shares of NASDAQ:FUTU opened at $140.04 on Tuesday. The company has a market cap of $19.49 billion, a PE ratio of 13.62, a P/E/G ratio of 0.78 and a beta of 0.38. Futu has a fifty-two week low of $70.60 and a fifty-two week high of $202.53. The firm has a 50-day simple moving average of $154.39 and a 200 day simple moving average of $166.74.

Futu (NASDAQ:FUTU) last issued its earnings results on Thursday, March 12th. The company reported $3.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.06 by $0.01. Futu had a net margin of 49.63% and a return on equity of 32.24%. The firm had revenue of $827.15 million for the quarter, compared to analysts’ expectations of $788.73 million. As a group, research analysts forecast that Futu will post 4.94 EPS for the current fiscal year.

Institutional Trading of Futu

Large investors have recently modified their holdings of the company. AQR Capital Management LLC bought a new position in shares of Futu in the first quarter worth $235,000. Jones Financial Companies Lllp raised its stake in shares of Futu by 442.4% during the first quarter. Jones Financial Companies Lllp now owns 640 shares of the company’s stock valued at $66,000 after purchasing an additional 522 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Futu by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 459,175 shares of the company’s stock worth $46,997,000 after purchasing an additional 16,255 shares during the period. Geneos Wealth Management Inc. acquired a new stake in Futu in the first quarter worth about $27,000. Finally, PNC Financial Services Group Inc. grew its position in Futu by 9.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,674 shares of the company’s stock valued at $330,000 after buying an additional 237 shares in the last quarter.

About Futu

Futu Holdings Ltd. is a technology-driven brokerage and wealth management company that provides online brokerage services, market data, and investment tools to retail and institutional clients. Headquartered in Hong Kong and listed on the NASDAQ under the ticker FUTU, the company operates digital trading platforms that combine order execution, real-time quotes, news, and research tools to serve active investors and wealth management customers.

The firm’s product suite includes brokerage access to equities, exchange-traded funds and derivatives across major markets, margin financing, initial public offering (IPO) subscription services, wealth management products and discretionary investment solutions.