Futu (NASDAQ:FUTU) Given New $200.00 Price Target at Bank of America

Key Points

• Bank of America raised the price target for Futu (NASDAQ:FUTU) from $172.00 to $200.00 while maintaining a "buy" rating, indicating a potential upside of 11.94% from current levels.
• Futu has received multiple upgrades from analysts, including a "strong-buy" rating from Daiwa America and a boost from Citigroup increasing their target price to $176.00.
• The stock recently traded at $178.66, with a significant 12-month price range of $56.22 to $179.17, reflecting strong market interest and performance.

Futu (NASDAQ:FUTU - Free Report) had its price target lifted by Bank of America from $172.00 to $200.00 in a research note published on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also recently weighed in on FUTU. Daiwa Capital Markets began coverage on shares of Futu in a research report on Monday, August 11th. They set a "buy" rating and a $190.00 price objective for the company. Barclays started coverage on Futu in a research report on Thursday, July 17th. They set an "overweight" rating and a $176.00 price target for the company. Daiwa America upgraded Futu to a "strong-buy" rating in a report on Tuesday, August 12th. Finally, Citigroup increased their target price on Futu from $113.00 to $176.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $176.14.

Futu Stock Performance

Shares of Futu stock traded up $10.19 during trading hours on Thursday, hitting $190.64. The company's stock had a trading volume of 3,101,088 shares, compared to its average volume of 2,333,797. The stock has a market cap of $26.53 billion, a price-to-earnings ratio of 26.44, a P/E/G ratio of 1.18 and a beta of 0.49. Futu has a twelve month low of $56.22 and a twelve month high of $194.32. The firm has a fifty day moving average of $147.12 and a 200-day moving average of $118.65.

Futu (NASDAQ:FUTU - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.01. The firm had revenue of $603.43 million for the quarter, compared to analyst estimates of $594.86 million. Futu had a net margin of 44.25% and a return on equity of 26.36%. On average, sell-side analysts expect that Futu will post 4.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Futu

Several large investors have recently bought and sold shares of the stock. LFA Lugano Financial Advisors SA purchased a new position in shares of Futu in the 2nd quarter valued at about $28,000. Atlas Capital Advisors Inc. acquired a new stake in Futu in the first quarter valued at approximately $26,000. Hantz Financial Services Inc. grew its holdings in Futu by 4,116.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 253 shares of the company's stock worth $31,000 after acquiring an additional 247 shares in the last quarter. Geneos Wealth Management Inc. purchased a new stake in shares of Futu in the 1st quarter valued at approximately $27,000. Finally, First Horizon Advisors Inc. purchased a new stake in shares of Futu in the 2nd quarter valued at approximately $35,000.

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.