Brokerages Set Futu Holdings Limited (NASDAQ:FUTU) Target Price at $72.37

Shares of Futu Holdings Limited (NASDAQ:FUTU) have been assigned an average recommendation of “Moderate Buy” from the seven analysts that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $72.37.

Several brokerages have recently issued reports on FUTU. JPMorgan Chase & Co. raised Futu from a “neutral” rating to an “overweight” rating and raised their price target for the company from $62.00 to $92.00 in a research report on Tuesday, May 28th. Bank of America lifted their price target on Futu from $81.00 to $85.80 and gave the stock a “buy” rating in a research report on Wednesday, May 29th.

Institutional Investors Weigh In On Futu

Institutional investors and hedge funds have recently bought and sold shares of the business. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Futu by 0.6% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 124,898 shares of the company’s stock valued at $6,823,000 after acquiring an additional 763 shares in the last quarter. Vontobel Holding Ltd. boosted its position in shares of Futu by 9.5% during the 4th quarter. Vontobel Holding Ltd. now owns 20,975 shares of the company’s stock valued at $1,146,000 after acquiring an additional 1,828 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its position in shares of Futu by 689.0% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 42,370 shares of the company’s stock valued at $2,309,000 after acquiring an additional 37,000 shares in the last quarter. Syon Capital LLC acquired a new stake in shares of Futu during the 4th quarter valued at about $238,000. Finally, State of New Jersey Common Pension Fund D boosted its position in shares of Futu by 20.3% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 55,700 shares of the company’s stock valued at $3,043,000 after acquiring an additional 9,400 shares in the last quarter.

Futu Stock Up 0.9 %

Shares of Futu stock opened at $61.48 on Friday. Futu has a 12-month low of $43.61 and a 12-month high of $81.86. The stock has a 50 day moving average price of $65.13 and a two-hundred day moving average price of $61.93. The stock has a market capitalization of $9.25 billion, a P/E ratio of 16.26, a PEG ratio of 0.93 and a beta of 0.74.

Futu (NASDAQ:FUTU) last posted its quarterly earnings data on Tuesday, May 28th. The company reported $0.95 earnings per share (EPS) for the quarter. The business had revenue of $331.27 million during the quarter. Futu had a net margin of 40.86% and a return on equity of 17.16%. During the same period in the prior year, the company posted $1.08 earnings per share. Sell-side analysts anticipate that Futu will post 4.59 earnings per share for the current year.

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.