Futu (NASDAQ:FUTU - Free Report) had its price target hoisted by Bank of America from $123.70 to $143.90 in a report issued on Wednesday,Benzinga reports. They currently have a buy rating on the stock.
Several other research firms have also weighed in on FUTU. JPMorgan Chase & Co. lifted their price objective on Futu from $160.00 to $170.00 and gave the company an "overweight" rating in a research note on Friday, March 14th. UBS Group lifted their price objective on Futu from $130.00 to $136.00 and gave the company a "buy" rating in a research note on Monday, March 17th. One equities research 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, the stock has a consensus rating of "Moderate Buy" and an average target price of $131.98.
Check Out Our Latest Research Report on Futu
Futu Trading Down 2.3%
FUTU traded down $2.62 during midday trading on Wednesday, hitting $111.50. The company's stock had a trading volume of 857,823 shares, compared to its average volume of 2,891,774. The firm has a market cap of $15.51 billion, a P/E ratio of 27.33, a PEG ratio of 0.79 and a beta of 0.58. Futu has a 52-week low of $51.80 and a 52-week high of $130.88. The firm has a 50-day moving average price of $98.80 and a two-hundred day moving average price of $97.55.
Futu (NASDAQ:FUTU - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.01. The business had revenue of $603.43 million for the quarter, compared to analyst estimates of $594.86 million. Futu had a return on equity of 16.86% and a net margin of 38.59%. On average, equities analysts expect that Futu will post 4.94 EPS for the current year.
Hedge Funds Weigh In On Futu
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Atlas Capital Advisors Inc. acquired a new position in Futu during the 1st quarter worth approximately $26,000. Geneos Wealth Management Inc. acquired a new position in Futu during the 1st quarter worth approximately $27,000. Allianz SE acquired a new position in Futu during the 1st quarter worth approximately $30,000. SVB Wealth LLC acquired a new position in Futu during the 1st quarter worth approximately $40,000. Finally, Smartleaf Asset Management LLC lifted its position in Futu by 1,245.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 444 shares of the company's stock worth $36,000 after acquiring an additional 411 shares in the last quarter.
Futu Company Profile
(
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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.
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