Futu Holdings Limited (NASDAQ:FUTU – Get Free Report) has been given an average rating of “Moderate Buy” by the seven research firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $72.97.
Separately, Bank of America boosted their price target on shares of Futu from $80.20 to $90.00 and gave the stock a “buy” rating in a report on Friday, September 27th.
View Our Latest Analysis on FUTU
Futu Price Performance
Futu (NASDAQ:FUTU – Get Free Report) last issued its quarterly earnings results on Tuesday, August 20th. The company reported $1.11 EPS for the quarter. The company had revenue of $400.73 million during the quarter. Futu had a net margin of 39.27% and a return on equity of 16.77%. On average, sell-side analysts anticipate that Futu will post 4.28 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Futu
A number of large investors have recently modified their holdings of FUTU. Marshall Wace LLP grew its holdings in shares of Futu by 71.5% during the second quarter. Marshall Wace LLP now owns 1,521,314 shares of the company’s stock worth $99,813,000 after buying an additional 634,369 shares in the last quarter. E Fund Management Co. Ltd. purchased a new stake in shares of Futu during the second quarter worth $31,490,000. National Bank of Canada FI grew its holdings in shares of Futu by 3,253,333.3% during the second quarter. National Bank of Canada FI now owns 292,809 shares of the company’s stock worth $18,790,000 after buying an additional 292,800 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Futu by 1,159.9% during the second quarter. Renaissance Technologies LLC now owns 292,300 shares of the company’s stock worth $19,176,000 after buying an additional 269,100 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in shares of Futu by 5,492.5% during the second quarter. Acadian Asset Management LLC now owns 265,869 shares of the company’s stock worth $17,419,000 after buying an additional 261,115 shares in the last quarter.
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.
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