Futu (NASDAQ:FUTU) Downgraded by Citigroup to Neutral

Citigroup cut shares of Futu (NASDAQ:FUTU) from a buy rating to a neutral rating in a research note released on Tuesday morning, Marketbeat reports. The firm currently has $95.00 price objective on the stock, up from their prior price objective of $79.00.

A number of other research analysts have also issued reports on FUTU. Morgan Stanley upgraded 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 report on Monday, November 18th. Bank of America raised their target price on shares of Futu from $80.20 to $90.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Futu currently has an average rating of “Moderate Buy” and an average target price of $85.07.

Futu Stock Performance

FUTU stock opened at $84.22 on Tuesday. The stock’s 50 day moving average price is $92.90 and its 200 day moving average price is $75.63. The firm has a market cap of $11.61 billion, a P/E ratio of 20.64, a PEG ratio of 0.89 and a beta of 0.75. Futu has a 1 year low of $43.61 and a 1 year high of $130.50.

Futu (NASDAQ:FUTU) last issued its quarterly earnings data on Tuesday, August 20th. The company reported $1.11 earnings per share (EPS) for the quarter. The business had revenue of $400.73 million for the quarter. Futu had a return on equity of 17.33% and a net margin of 38.59%. On average, research analysts predict that Futu will post 4.81 earnings per share for the current year.

Hedge Funds Weigh In On Futu

Large investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its holdings in shares of Futu by 3.7% during the 1st quarter. Russell Investments Group Ltd. now owns 13,422 shares of the company’s stock worth $727,000 after buying an additional 484 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of Futu by 3.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 11,123 shares of the company’s stock worth $602,000 after purchasing an additional 343 shares during the period. UniSuper Management Pty Ltd lifted its stake in shares of Futu by 100.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock valued at $43,000 after purchasing an additional 400 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of Futu by 34.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 42,306 shares of the company’s stock valued at $2,293,000 after purchasing an additional 10,900 shares in the last quarter. Finally, Natixis purchased a new stake in shares of Futu during the 1st quarter worth about $202,000.

Futu Company Profile

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.