Futu Holdings Limited (NASDAQ:FUTU) Receives Average Rating of “Moderate Buy” from Analysts

Futu Holdings Limited (NASDAQ:FUTU) has earned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $72.37.

FUTU has been the subject of a number of research analyst reports. Bank of America boosted their price target on Futu from $81.00 to $85.80 and gave the company a “buy” rating in a report on Wednesday, May 29th. JPMorgan Chase & Co. upgraded Futu from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $62.00 to $92.00 in a report on Tuesday, May 28th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UniSuper Management Pty Ltd boosted its position in Futu by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock valued at $43,000 after purchasing an additional 400 shares during the period. Headlands Technologies LLC acquired a new position in Futu during the 4th quarter worth $44,000. Advisors Preferred LLC acquired a new position in Futu during the 4th quarter worth $53,000. Newbridge Financial Services Group Inc. acquired a new position in Futu during the 1st quarter worth $65,000. Finally, Barometer Capital Management Inc. acquired a new position in Futu during the 4th quarter worth $120,000.

Futu Trading Down 2.1 %

Shares of NASDAQ FUTU opened at $61.61 on Monday. Futu has a twelve month low of $43.61 and a twelve month high of $81.86. The business has a 50 day simple moving average of $71.10 and a 200-day simple moving average of $60.45.

Futu (NASDAQ:FUTU) last issued its quarterly earnings results on Tuesday, May 28th. The company reported $0.95 earnings per share for the quarter. Futu had a return on equity of 17.16% and a net margin of 40.86%. The business had revenue of $331.27 million during the quarter. During the same quarter last year, the firm posted $1.08 earnings per share. Research analysts predict that Futu will post 4.68 earnings per share for the current fiscal year.

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.