Futu (NASDAQ:FUTU) Now Covered by Analysts at Barclays

Stock analysts at Barclays assumed coverage on shares of Futu (NASDAQ:FUTU - Get Free Report) in a research note issued on Thursday, Marketbeat.com reports. The brokerage set an "overweight" rating and a $176.00 price target on the stock. Barclays's price objective indicates a potential upside of 9.61% from the company's previous close.

Separately, Bank of America raised their target price on shares of Futu from $123.70 to $143.90 and gave the company a "buy" rating in a research note on Wednesday, June 11th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $139.32.

Futu Stock Up 7.0%

NASDAQ FUTU traded up $10.51 on Thursday, hitting $160.57. The stock had a trading volume of 6,478,908 shares, compared to its average volume of 3,014,487. The company's 50-day moving average is $119.49 and its two-hundred day moving average is $105.28. The stock has a market cap of $22.34 billion, a price-to-earnings ratio of 26.76, a P/E/G ratio of 1.27 and a beta of 0.60. Futu has a one year low of $51.80 and a one year high of $169.80.

Futu (NASDAQ:FUTU - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.95 by $0.01. Futu had a net margin of 41.74% and a return on equity of 23.07%. The company had revenue of $603.43 million during the quarter, compared to the consensus estimate of $594.86 million. On average, sell-side analysts anticipate that Futu will post 4.94 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FUTU. Lifestyle Asset Management Inc. raised its position in shares of Futu by 2.1% in the second quarter. Lifestyle Asset Management Inc. now owns 3,971 shares of the company's stock valued at $491,000 after purchasing an additional 83 shares during the period. Mackenzie Financial Corp grew its stake in shares of Futu by 2.0% in the fourth quarter. Mackenzie Financial Corp now owns 4,475 shares of the company's stock valued at $358,000 after acquiring an additional 87 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Futu by 1.2% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,326 shares of the company's stock valued at $746,000 after acquiring an additional 113 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Futu by 15.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,026 shares of the company's stock worth $127,000 after acquiring an additional 141 shares during the period. Finally, Voya Investment Management LLC lifted its holdings in shares of Futu by 1.6% during the 4th quarter. Voya Investment Management LLC now owns 9,549 shares of the company's stock worth $764,000 after acquiring an additional 153 shares during the period.

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.