Barclays Raises Futu (NASDAQ:FUTU) Price Target to $232.00

Futu (NASDAQ:FUTU) had its price objective raised by stock analysts at Barclays from $176.00 to $232.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 21.70% from the stock’s previous close.

Several other equities research analysts have also weighed in on FUTU. Citigroup lifted their price objective on Futu from $176.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday. Daiwa America raised Futu to a “strong-buy” rating in a report on Tuesday, August 12th. Bank of America lifted their price objective on Futu from $172.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Daiwa Capital Markets started coverage on Futu in a report on Monday, August 11th. They issued a “buy” rating and a $190.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $176.14.

Futu Stock Performance

Shares of FUTU opened at $190.64 on Friday. The business has a 50-day moving average of $147.12 and a 200 day moving average of $118.65. Futu has a fifty-two week low of $56.22 and a fifty-two week high of $194.32. The firm has a market cap of $26.53 billion, a P/E ratio of 26.44, a price-to-earnings-growth ratio of 1.18 and a beta of 0.49.

Futu (NASDAQ:FUTU) last announced its quarterly earnings data on Thursday, May 29th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.01. Futu had a return on equity of 26.36% and a net margin of 44.25%.The company had revenue of $603.43 million during the quarter, compared to analyst estimates of $594.86 million. As a group, research analysts predict that Futu will post 4.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. LFA Lugano Financial Advisors SA purchased a new position in Futu during the 2nd quarter valued at about $28,000. Atlas Capital Advisors Inc. purchased a new position in Futu during the 1st quarter valued at about $26,000. Hantz Financial Services Inc. grew its holdings in Futu by 4,116.7% during the 2nd quarter. Hantz Financial Services Inc. now owns 253 shares of the company’s stock valued at $31,000 after buying an additional 247 shares in the last quarter. Geneos Wealth Management Inc. purchased a new position in Futu during the 1st quarter valued at about $27,000. Finally, First Horizon Advisors Inc. purchased a new position in Futu during the 2nd quarter valued at about $35,000.

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.