Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) Given Consensus Rating of “Buy” by Brokerages

Shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) have received a consensus recommendation of “Buy” from the ten analysts that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $205.0557.

Several brokerages recently commented on FUTU. Weiss Ratings restated a “hold (c+)” rating on shares of Futu in a research report on Thursday, January 22nd. Zacks Research raised Futu from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. The Goldman Sachs Group raised shares of Futu to a “buy” rating and set a $213.39 price target on the stock in a research report on Monday. Finally, Barclays increased their price objective on Futu from $232.00 to $236.00 and gave the stock an “overweight” rating in a report on Thursday, November 20th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Futu by 805.2% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,126,633 shares of the company’s stock valued at $195,933,000 after acquiring an additional 1,002,171 shares during the last quarter. AGF Management Ltd. bought a new position in Futu during the 3rd quarter valued at about $149,432,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Futu by 113.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,544,025 shares of the company’s stock worth $190,826,000 after buying an additional 822,343 shares during the period. Tredje AP fonden increased its stake in Futu by 3,579.1% in the third quarter. Tredje AP fonden now owns 688,000 shares of the company’s stock worth $119,650,000 after purchasing an additional 669,300 shares during the period. Finally, Aspex Management HK Ltd boosted its position in Futu by 21.1% in the 2nd quarter. Aspex Management HK Ltd now owns 3,393,307 shares of the company’s stock valued at $419,379,000 after buying an additional 591,082 shares during the period.

Futu Stock Down 1.4%

Shares of FUTU stock opened at $162.57 on Monday. The company has a market capitalization of $22.62 billion, a PE ratio of 18.20, a price-to-earnings-growth ratio of 0.42 and a beta of 0.43. The firm has a 50 day moving average price of $169.70 and a two-hundred day moving average price of $172.06. Futu has a 12-month low of $70.60 and a 12-month high of $202.53.

Futu (NASDAQ:FUTU) last issued its quarterly earnings results on Tuesday, November 18th. The company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.39. The company had revenue of $822.80 million for the quarter, compared to analysts’ expectations of $631.51 million. Futu had a return on equity of 30.59% and a net margin of 47.11%. As a group, research analysts expect that Futu will post 4.94 EPS for the current year.

About Futu

Futu Holdings Ltd. is a technology-driven brokerage and wealth management company that provides online brokerage services, market data, and investment tools to retail and institutional clients. Headquartered in Hong Kong and listed on the NASDAQ under the ticker FUTU, the company operates digital trading platforms that combine order execution, real-time quotes, news, and research tools to serve active investors and wealth management customers.

The firm’s product suite includes brokerage access to equities, exchange-traded funds and derivatives across major markets, margin financing, initial public offering (IPO) subscription services, wealth management products and discretionary investment solutions.