Futu (NASDAQ:FUTU) Given New $143.90 Price Target at Bank of America

Futu (NASDAQ:FUTU - Free Report) had its price target increased by Bank of America from $123.70 to $143.90 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also issued reports on the company. UBS Group lifted their price target on Futu from $130.00 to $136.00 and gave the stock a "buy" rating in a research report on Monday, March 17th. JPMorgan Chase & Co. raised their price objective on shares of Futu from $160.00 to $170.00 and gave the company an "overweight" rating in a research note on Friday, March 14th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Futu presently has an average rating of "Moderate Buy" and a consensus price target of $131.98.

Futu Price Performance

FUTU traded down $0.37 during midday trading on Wednesday, reaching $114.31. 877,029 shares of the company's stock traded hands, compared to its average volume of 2,881,643. Futu has a 52 week low of $51.80 and a 52 week high of $130.88. The firm has a fifty day moving average of $97.37 and a two-hundred day moving average of $97.07. The stock has a market capitalization of $15.91 billion, a price-to-earnings ratio of 28.02, a P/E/G ratio of 0.79 and a beta of 0.58.

Futu (NASDAQ:FUTU - Get Free Report) last released its quarterly 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. The company had revenue of $603.43 million during the quarter, compared to the consensus estimate of $594.86 million. Futu had a net margin of 38.59% and a return on equity of 16.86%. Sell-side analysts forecast that Futu will post 4.94 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FUTU. Hhlr Advisors LTD. grew its holdings in shares of Futu by 285.2% in the first quarter. Hhlr Advisors LTD. now owns 4,307,492 shares of the company's stock valued at $440,872,000 after purchasing an additional 3,189,189 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Futu during the fourth quarter valued at $116,315,000. Trivest Advisors Ltd purchased a new position in shares of Futu in the 1st quarter worth $98,651,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Futu by 883.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 989,367 shares of the company's stock worth $101,262,000 after buying an additional 888,760 shares in the last quarter. Finally, Yong Rong HK Asset Management Ltd purchased a new stake in shares of Futu during the 1st quarter valued at about $77,172,000.

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.