Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Futu has a consensus “Hold” rating from six analysts: four holds and two buys. The average 12-month price target is $139.91, though recent targets ranged from $87 to $170.50.
• Futu’s shares opened at $111.11, down 1.4%, and remain below their 12-month high of $202.53. The stock has a market capitalization of approximately $15.57 billion and a P/E ratio of 11.0.
• The company exceeded quarterly expectations, reporting $3.33 in EPS versus the $2.98 consensus and revenue of $852.66 million versus estimates of $786.07 million. Analysts expect full-year EPS of $9.45.

Shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Get Free Report) have received a consensus recommendation of "Hold" from the six research firms that are presently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $139.9075.

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $87.00 price target (down from $300.00) on shares of Futu in a report on Friday, May 22nd. Jefferies Financial Group reiterated a "buy" rating and set a $170.50 target price on shares of Futu in a research note on Thursday, May 28th. Zacks Research upgraded shares of Futu from a "strong sell" rating to a "hold" rating in a research report on Monday, July 27th. Wall Street Zen upgraded shares of Futu from a "sell" rating to a "hold" rating in a report on Saturday, August 22nd. Finally, The Goldman Sachs Group lowered shares of Futu from a "buy" rating to a "neutral" rating and set a $102.13 price target on the stock. in a report on Monday, May 25th.

Hedge Funds Weigh In On Futu

• Futu Holdings NASDAQ: FUTU Stock: Is the Chinese Fintech Company a Buy?

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in shares of Futu during the first quarter worth approximately $25,000. Rockefeller Capital Management L.P. increased its stake in shares of Futu by 59.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 226 shares of the company's stock valued at $37,000 after acquiring an additional 84 shares during the last quarter. Hilton Head Capital Partners LLC bought a new position in Futu during the 4th quarter worth approximately $49,000. Global Retirement Partners LLC boosted its position in shares of Futu by 84.8% during the fourth quarter. Global Retirement Partners LLC now owns 987 shares of the company's stock worth $162,000 after purchasing an additional 453 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Futu by 58.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,203 shares of the company's stock valued at $165,000 after buying an additional 443 shares during the period.

Futu Stock Down 1.4%

Shares of Futu stock opened at $111.11 on Tuesday. The stock has a market capitalization of $15.57 billion, a P/E ratio of 11.00, a PEG ratio of 1.25 and a beta of 0.46. The stock has a 50 day moving average price of $108.78 and a two-hundred day moving average price of $122.35. Futu has a 12-month low of $80.50 and a 12-month high of $202.53.

Futu (NASDAQ:FUTU - Get Free Report) last released its quarterly earnings results on Thursday, August 20th. The company reported $3.33 EPS for the quarter, beating analysts' consensus estimates of $2.98 by $0.35. Futu had a net margin of 42.95% and a return on equity of 28.20%. The company had revenue of $852.66 million for the quarter, compared to analyst estimates of $786.07 million. Sell-side analysts anticipate that Futu will post 9.45 earnings per share for the current year.

About Futu

Futu Holdings Limited is a financial technology company that operates online brokerage and wealth-management platforms. Founded in 2012 and headquartered in Hong Kong, the company provides digital tools that allow individual investors to trade securities and manage investments through mobile and web applications.

Through its Futu and Moomoo platforms, the company offers access to products such as stocks, exchange-traded funds, options and futures, subject to the regulations of the relevant markets.

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