Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday after Citigroup raised their price target on the stock from $113.00 to $176.00. Citigroup currently has a neutral rating on the stock. Futu traded as high as $174.36 and last traded at $172.58, with a volume of 1555709 shares changing hands. The stock had previously closed at $164.25.
FUTU has been the topic of several other reports. Barclays began coverage on Futu in a research report on Thursday, July 17th. They set an "overweight" rating and a $176.00 target price on the stock. Bank of America upped their target price on Futu from $123.70 to $143.90 and gave the company a "buy" rating in a research report on Wednesday, June 11th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Futu has a consensus rating of "Moderate Buy" and a consensus price target of $152.82.
Read Our Latest Stock Analysis on FUTU
Institutional Trading of Futu
A number of hedge funds have recently modified their holdings of FUTU. Atlas Capital Advisors Inc. acquired a new position in shares of Futu during the first quarter valued at approximately $26,000. Geneos Wealth Management Inc. acquired a new position in shares of Futu during the first quarter valued at approximately $27,000. Allianz SE acquired a new stake in shares of Futu in the first quarter valued at approximately $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Futu by 77.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company's stock valued at $36,000 after purchasing an additional 197 shares during the last quarter. Finally, SVB Wealth LLC acquired a new stake in shares of Futu in the first quarter valued at approximately $40,000.
Futu Price Performance
The stock has a market cap of $22.76 billion, a price-to-earnings ratio of 27.27, a PEG ratio of 1.31 and a beta of 0.60. The firm has a fifty day moving average of $125.01 and a 200 day moving average of $108.02.
Futu (NASDAQ:FUTU - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.95 by $0.01. Futu had a return on equity of 23.07% and a net margin of 41.74%. The firm had revenue of $603.43 million during the quarter, compared to analysts' expectations of $594.86 million. Research analysts anticipate that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current fiscal year.
About Futu
(
Get Free Report)
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.
Featured Stories
Before you consider Futu, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Futu wasn't on the list.
While Futu currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
