Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) Receives $190.43 Average PT from Analysts

Key Points

• Futu Holdings Limited has received a consensus recommendation of "Buy" from eight ratings firms, with an average 12-month target price of $190.43.
• Institutional investors have notably increased their holdings, with Osaic Holdings lifting its stake by 522.6% in the second quarter.
• The stock has shown promising performance, opening at $189.12 with a 52-week range of $56.22 to $197.35.

Shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Get Free Report) have been given a consensus recommendation of "Buy" by the nine ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $190.4286.

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Futu from $200.00 to $270.00 and gave the company an "overweight" rating in a research report on Thursday, August 28th. Citigroup upped their price target on shares of Futu from $176.00 to $190.00 and gave the stock a "neutral" rating in a research note on Thursday, August 21st. Barclays lifted their price objective on Futu from $176.00 to $232.00 and gave the company an "overweight" rating in a research report on Friday, August 22nd. Dbs Bank raised Futu to a "moderate buy" rating in a research report on Thursday, September 4th. Finally, Daiwa Capital Markets started coverage on Futu in a research note on Monday, August 11th. They set a "buy" rating and a $190.00 price target for the company.

Futu Trading Up 0.2%

NASDAQ:FUTU traded up $0.45 on Friday, hitting $188.08. 1,453,593 shares of the company's stock traded hands, compared to its average volume of 2,645,322. The company has a market cap of $26.17 billion, a PE ratio of 26.09, a price-to-earnings-growth ratio of 0.83 and a beta of 0.57. Futu has a 1 year low of $56.22 and a 1 year high of $199.86. The firm has a 50-day moving average price of $162.01 and a 200-day moving average price of $124.31.

Hedge Funds Weigh In On Futu

Several institutional investors have recently bought and sold shares of the stock. Hhlr Advisors LTD. boosted its stake in shares of Futu by 285.2% during the 1st quarter. Hhlr Advisors LTD. now owns 4,307,492 shares of the company's stock worth $440,872,000 after acquiring an additional 3,189,189 shares in the last quarter. Aspex Management HK Ltd grew its holdings in Futu by 21.1% during the second quarter. Aspex Management HK Ltd now owns 3,393,307 shares of the company's stock valued at $419,379,000 after purchasing an additional 591,082 shares during the last quarter. Greenwoods Asset Management Hong Kong Ltd. lifted its stake in shares of Futu by 48.2% in the first quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 1,901,635 shares of the company's stock worth $194,632,000 after buying an additional 618,701 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Futu by 30.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,786,247 shares of the company's stock worth $182,824,000 after buying an additional 417,620 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in Futu by 113.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,544,025 shares of the company's stock valued at $190,826,000 after buying an additional 822,343 shares during the last quarter.

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.