Futu (NASDAQ:FUTU) Stock Rating Lowered by Zacks Investment Research

Futu (NASDAQ:FUTUGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Futu Holdings Limited is a technology company which offers a digitized brokerage platform. It is primarily engaged in the online brokerage services and margin financing services. The Company provides investing services through its digital platform, Futu NiuNiu, an integrated application accessible through any mobile device, tablet or desktop. Futu Holdings Limited is based in NEW YORK. “

Several other equities research analysts have also recently commented on the company. CLSA cut Futu from an “outperform” rating to an “underperform” rating and cut their target price for the company from $64.00 to $27.00 in a research note on Monday, March 14th. Citigroup dropped their price objective on Futu from $79.00 to $46.50 in a research note on Monday, March 14th. Finally, TheStreet upgraded Futu from a “d+” rating to a “c” rating in a research note on Monday, March 14th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $100.68.

Shares of NASDAQ:FUTU traded down $0.15 during trading on Wednesday, hitting $31.45. 1,739,862 shares of the company’s stock traded hands, compared to its average volume of 5,576,735. The company has a market cap of $4.73 billion, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 1.20 and a beta of 0.83. The company has a 50-day moving average price of $34.42 and a 200-day moving average price of $40.32. Futu has a 52 week low of $21.23 and a 52 week high of $181.44.

Futu (NASDAQ:FUTUGet Rating) last released its earnings results on Friday, March 11th. The company reported $0.42 EPS for the quarter. The firm had revenue of $205.50 million for the quarter. Futu had a return on equity of 15.41% and a net margin of 39.50%. Equities analysts forecast that Futu will post 1.92 EPS for the current year.

Several hedge funds have recently bought and sold shares of FUTU. Wells Fargo & Company MN increased its holdings in shares of Futu by 15.3% during the 2nd quarter. Wells Fargo & Company MN now owns 7,536 shares of the company’s stock worth $1,350,000 after acquiring an additional 1,001 shares during the last quarter. New York State Common Retirement Fund acquired a new position in Futu in the 3rd quarter valued at $27,000. BlackRock Inc. grew its holdings in Futu by 4.8% in the 3rd quarter. BlackRock Inc. now owns 2,264,282 shares of the company’s stock valued at $206,093,000 after buying an additional 102,708 shares in the last quarter. US Bancorp DE grew its holdings in Futu by 50.9% in the 3rd quarter. US Bancorp DE now owns 3,770 shares of the company’s stock valued at $342,000 after buying an additional 1,271 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Futu by 9.7% in the 3rd quarter. Geode Capital Management LLC now owns 339,114 shares of the company’s stock valued at $30,304,000 after buying an additional 29,879 shares in the last quarter. 23.33% of the stock is currently owned by institutional investors and hedge funds.

About Futu (Get Rating)

Futu Holdings Limited operates an online brokerage and wealth management platform in Hong Kong and internationally. The company provides trading, clearing, and settlement services; margin financing and securities lending services; and stock yield enhancement program. It also offers online wealth management services under the brand of Futu Money Plus through its Futubull and moomoo platforms, which give access to mutual funds, private funds, and bonds; market data and information services; and NiuNiu Community, which serves as an open forum for users and clients to share insights, ask questions, and exchange ideas.

See Also

Get a free copy of the Zacks research report on Futu (FUTU)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Futu (NASDAQ:FUTU)

Receive News & Ratings for Futu Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Futu and related companies with MarketBeat.com's FREE daily email newsletter.