Brokerages Set Futu Holdings Limited (NASDAQ:FUTU) Price Target at $87.33

Futu Holdings Limited (NASDAQ:FUTU) has been assigned an average rating of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $87.33.

A number of research analysts recently issued reports on FUTU shares. Citigroup downgraded shares of Futu from a “buy” rating to a “neutral” rating and boosted their target price for the company from $79.00 to $95.00 in a research report on Tuesday, November 19th. Morgan Stanley raised Futu from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $70.00 to $115.00 in a report on Monday, November 18th. Finally, Bank of America upped their target price on Futu from $80.20 to $90.00 and gave the stock a “buy” rating in a research note on Friday, September 27th.

Futu Trading Down 3.5 %

Shares of NASDAQ FUTU opened at $83.20 on Thursday. The company has a 50 day simple moving average of $91.65 and a two-hundred day simple moving average of $77.11. The stock has a market cap of $11.46 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 0.88 and a beta of 0.72. Futu has a 12 month low of $43.61 and a 12 month high of $130.50.

Futu Dividend Announcement

The company also recently disclosed a — dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 6th will be issued a $2.00 dividend. The ex-dividend date is Friday, December 6th.

Institutional Investors Weigh In On Futu

Several hedge funds have recently modified their holdings of FUTU. Allspring Global Investments Holdings LLC increased its stake in shares of Futu by 14.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 877 shares of the company’s stock valued at $84,000 after purchasing an additional 112 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Futu by 4.3% in the third quarter. CIBC Asset Management Inc now owns 5,403 shares of the company’s stock valued at $517,000 after buying an additional 222 shares in the last quarter. Signaturefd LLC raised its stake in shares of Futu by 8.4% during the 2nd quarter. Signaturefd LLC now owns 3,205 shares of the company’s stock worth $210,000 after buying an additional 247 shares during the period. CWM LLC lifted its position in shares of Futu by 67.7% during the 3rd quarter. CWM LLC now owns 743 shares of the company’s stock valued at $71,000 after buying an additional 300 shares in the last quarter. Finally, Lifestyle Asset Management Inc. grew its stake in Futu by 6.1% in the 3rd quarter. Lifestyle Asset Management Inc. now owns 5,373 shares of the company’s stock valued at $514,000 after acquiring an additional 307 shares during the period.

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.