Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) Receives $152.82 Average PT from Analysts

Shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Get Free Report) have been assigned a consensus recommendation of "Buy" from the eight analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $158.1286.

Several analysts recently weighed in on FUTU shares. Bank of America raised their price objective on Futu from $123.70 to $143.90 and gave the company a "buy" rating in a research note on Wednesday, June 11th. Daiwa America raised Futu to a "strong-buy" rating in a research note on Tuesday. Citigroup raised their price objective on Futu from $113.00 to $176.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Barclays started coverage on Futu in a research note on Thursday, July 17th. They issued an "overweight" rating and a $176.00 price objective on the stock. Finally, Daiwa Capital Markets started coverage on Futu in a research note on Monday. They issued a "buy" rating and a $190.00 price objective on the stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Eschler Asset Management LLP bought a new stake in shares of Futu in the 2nd quarter worth $1,024,000. BNP Paribas Financial Markets grew its holdings in shares of Futu by 166.4% in the second quarter. BNP Paribas Financial Markets now owns 455,266 shares of the company's stock worth $56,266,000 after acquiring an additional 284,387 shares during the period. Balyasny Asset Management L.P. bought a new stake in shares of Futu in the second quarter worth $1,737,000. Bank of America Corp DE grew its holdings in shares of Futu by 34.4% in the second quarter. Bank of America Corp DE now owns 1,006,656 shares of the company's stock worth $124,413,000 after acquiring an additional 257,389 shares during the period. Finally, Vienna Asset Management LLC bought a new stake in Futu during the second quarter valued at about $488,000.

Futu Trading Down 0.5%

Shares of Futu stock traded down $0.92 on Monday, reaching $173.83. 554,785 shares of the company were exchanged, compared to its average volume of 2,672,757. The company has a market capitalization of $24.19 billion, a price-to-earnings ratio of 28.97, a PEG ratio of 1.09 and a beta of 0.49. Futu has a one year low of $56.22 and a one year high of $179.17. The company has a 50-day moving average of $139.07 and a 200 day moving average of $115.17.

Futu (NASDAQ:FUTU - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $1.96 earnings per share for the quarter, beating analysts' consensus estimates of $1.95 by $0.01. The business had revenue of $603.43 million for the quarter, compared to analysts' expectations of $594.86 million. Futu had a return on equity of 23.07% and a net margin of 41.74%. Analysts predict that Futu will post 4.94 earnings per share for the current year.

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.