Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Futu Holdings Limited has received an average rating of "Moderate Buy" from eleven brokerages, with a range of recommendations including three holds and one strong buy.
• The average 12-month price target for the stock among analysts is $190.43, with JPMorgan recently increasing its price objective from $200 to $270.
• The stock has shown significant price movement, reaching a 12-month high of $199.86 and a low of $70.60, and currently trades around $178.38.

Shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Get Free Report) have received an average recommendation of "Moderate Buy" from the eleven research firms that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $190.4286.

Several brokerages have recently issued reports on FUTU. JPMorgan Chase & Co. upped their price objective on 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 target price on shares of Futu from $176.00 to $190.00 and gave the company a "neutral" rating in a report on Thursday, August 21st. Dbs Bank upgraded shares of Futu to a "moderate buy" rating in a report on Thursday, September 4th. Zacks Research lowered Futu from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 3rd. Finally, Daiwa Capital Markets initiated coverage on Futu in a research note on Monday, August 11th. They set a "buy" rating and a $190.00 price target on the stock.

Futu Price Performance

Shares of NASDAQ FUTU opened at $178.38 on Friday. Futu has a 12-month low of $70.60 and a 12-month high of $199.86. The firm's 50-day moving average is $176.20 and its two-hundred day moving average is $139.41. The company has a market capitalization of $24.82 billion, a PE ratio of 24.74, a price-to-earnings-growth ratio of 0.75 and a beta of 0.48.

Hedge Funds Weigh In On Futu

Several large investors have recently added to or reduced their stakes in the business. Lifestyle Asset Management Inc. lifted its position in Futu by 2.1% during the second quarter. Lifestyle Asset Management Inc. now owns 3,971 shares of the company's stock worth $491,000 after buying an additional 83 shares during the period. Asset Management One Co. Ltd. lifted its holdings in shares of Futu by 0.4% during the 2nd quarter. Asset Management One Co. Ltd. now owns 22,219 shares of the company's stock worth $2,746,000 after acquiring an additional 94 shares during the period. Ensign Peak Advisors Inc lifted its holdings in shares of Futu by 2.7% during the 2nd quarter. Ensign Peak Advisors Inc now owns 3,800 shares of the company's stock worth $470,000 after acquiring an additional 100 shares during the period. Cerity Partners LLC lifted its holdings in shares of Futu by 4.6% during the 2nd quarter. Cerity Partners LLC now owns 2,729 shares of the company's stock worth $337,000 after acquiring an additional 120 shares during the period. Finally, GAMMA Investing LLC raised its stake in Futu by 15.9% during the second quarter. GAMMA Investing LLC now owns 1,026 shares of the company's stock worth $127,000 after purchasing an additional 141 shares during the period.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.