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

Shares of Futu Holdings Limited (NASDAQ:FUTU) have received an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $72.97.

Separately, Bank of America boosted their price target on shares of Futu from $80.20 to $90.00 and gave the stock a “buy” rating in a report on Friday, September 27th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP raised its position in shares of Futu by 71.5% in the second quarter. Marshall Wace LLP now owns 1,521,314 shares of the company’s stock valued at $99,813,000 after buying an additional 634,369 shares during the last quarter. E Fund Management Co. Ltd. acquired a new stake in Futu in the 2nd quarter valued at about $31,490,000. Veritas Asset Management LLP purchased a new position in Futu in the 3rd quarter worth approximately $39,547,000. Yong Rong HK Asset Management Ltd boosted its holdings in shares of Futu by 2,525.3% during the 3rd quarter. Yong Rong HK Asset Management Ltd now owns 393,800 shares of the company’s stock worth $37,667,000 after purchasing an additional 378,800 shares during the last quarter. Finally, National Bank of Canada FI grew its position in shares of Futu by 3,253,333.3% in the second quarter. National Bank of Canada FI now owns 292,809 shares of the company’s stock valued at $18,790,000 after purchasing an additional 292,800 shares in the last quarter.

Futu Stock Up 1.3 %

FUTU stock opened at $98.17 on Wednesday. Futu has a 52-week low of $43.61 and a 52-week high of $130.50. The company’s 50-day simple moving average is $81.04 and its 200-day simple moving average is $71.87. The firm has a market cap of $13.53 billion, a P/E ratio of 25.37, a PEG ratio of 0.97 and a beta of 0.74.

Futu (NASDAQ:FUTU) last issued its quarterly earnings data on Tuesday, August 20th. The company reported $1.11 EPS for the quarter. The company had revenue of $400.73 million for the quarter. Futu had a return on equity of 16.77% and a net margin of 39.27%. On average, analysts anticipate that Futu will post 4.78 earnings per share for the current fiscal 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.