Brokerages Set Futu Holdings Limited (NASDAQ:FUTU) PT at $62.83

Shares of Futu Holdings Limited (NASDAQ:FUTU) have received an average rating of “Moderate Buy” from the eight analysts that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $62.83.

Several analysts have recently issued reports on the stock. CLSA upgraded shares of Futu from an “underperform” rating to an “outperform” rating and upped their target price for the company from $50.00 to $65.00 in a research report on Monday, March 18th. Citigroup reduced their target price on shares of Futu from $76.90 to $75.30 and set a “buy” rating on the stock in a research note on Friday, March 15th. UBS Group upgraded Futu from a “neutral” rating to a “buy” rating and set a $67.00 price objective for the company in a report on Friday, January 5th. Finally, JPMorgan Chase & Co. downgraded shares of Futu from an “overweight” rating to a “neutral” rating and cut their target price for the company from $64.00 to $62.00 in a research report on Friday, March 15th.

Institutional Investors Weigh In On Futu

A number of large investors have recently bought and sold shares of FUTU. Sequoia Financial Advisors LLC raised its holdings in shares of Futu by 6.5% during the first quarter. Sequoia Financial Advisors LLC now owns 4,387 shares of the company’s stock worth $238,000 after purchasing an additional 269 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Futu by 12.2% in the 3rd quarter. Signaturefd LLC now owns 2,615 shares of the company’s stock valued at $151,000 after purchasing an additional 285 shares during the period. Daiwa Securities Group Inc. grew its position in Futu by 8.6% during the first quarter. Daiwa Securities Group Inc. now owns 3,800 shares of the company’s stock valued at $206,000 after buying an additional 300 shares during the period. PNC Financial Services Group Inc. increased its holdings in Futu by 14.2% in the third quarter. PNC Financial Services Group Inc. now owns 2,971 shares of the company’s stock valued at $172,000 after buying an additional 370 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Futu by 4.3% in the third quarter. Principal Financial Group Inc. now owns 18,532 shares of the company’s stock worth $1,071,000 after acquiring an additional 757 shares during the period.

Futu Stock Performance

NASDAQ:FUTU opened at $71.78 on Wednesday. The business has a fifty day moving average price of $57.46 and a 200-day moving average price of $54.74. Futu has a one year low of $35.91 and a one year high of $72.89.

Futu (NASDAQ:FUTU) last posted its quarterly earnings data on Thursday, March 14th. The company reported $0.81 EPS for the quarter. The firm had revenue of $303.84 million for the quarter, compared to the consensus estimate of $374.14 million. Futu had a return on equity of 18.46% and a net margin of 42.77%. Equities research analysts anticipate that Futu will post 4.47 EPS for the current year.

Futu Company Profile

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.