Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) Receives Average Rating of “Buy” from Analysts

Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) has been assigned an average rating of “Buy” from the ten analysts that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $203.00.

FUTU has been the topic of several recent analyst reports. Bank of America increased their price target on Futu from $172.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 21st. Dbs Bank upgraded Futu to a “moderate buy” rating in a research note on Thursday, September 4th. Daiwa Capital Markets initiated coverage on Futu in a research report on Monday, August 11th. They set a “buy” rating and a $190.00 target price for the company. Zacks Research upgraded shares of Futu from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd. Finally, Citigroup lifted their price objective on shares of Futu from $176.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, August 21st.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Atlas Capital Advisors Inc. purchased a new stake in shares of Futu in the 1st quarter worth $26,000. Geneos Wealth Management Inc. bought a new stake in shares of Futu in the first quarter valued at about $27,000. LFA Lugano Financial Advisors SA purchased a new stake in Futu in the second quarter worth about $28,000. Cooper Investors PTY Ltd. bought a new position in Futu during the 3rd quarter worth about $29,000. Finally, Allianz SE purchased a new position in Futu during the 1st quarter valued at about $30,000.

Futu Trading Down 0.5%

FUTU stock opened at $167.74 on Wednesday. The stock has a market cap of $23.34 billion, a PE ratio of 23.26, a P/E/G ratio of 0.61 and a beta of 0.49. Futu has a 12 month low of $70.60 and a 12 month high of $202.53. The company has a 50-day moving average price of $175.78 and a 200 day moving average price of $152.41.

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.