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

Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) has earned an average rating of “Buy” from the ten ratings firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $205.0557.

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group raised shares of Futu from a “neutral” rating to a “buy” rating and set a $213.39 target price on the stock in a report on Monday, February 2nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Futu in a research note on Thursday, January 22nd. Barclays increased their price objective on Futu from $232.00 to $236.00 and gave the company an “overweight” rating in a report on Thursday, November 20th. Finally, Zacks Research raised Futu from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd.

Institutional Trading of Futu

Institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. bought a new position in Futu during the 1st quarter worth approximately $27,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of Futu during the second quarter worth $28,000. Cooper Investors PTY Ltd. bought a new position in Futu during the third quarter worth $29,000. Hantz Financial Services Inc. lifted its holdings in Futu by 4,116.7% in the second quarter. Hantz Financial Services Inc. now owns 253 shares of the company’s stock valued at $31,000 after buying an additional 247 shares during the period. Finally, First Horizon Advisors Inc. bought a new stake in Futu during the second quarter valued at $35,000.

Futu Trading Up 1.1%

NASDAQ:FUTU opened at $153.32 on Friday. The stock’s 50-day moving average is $163.31 and its 200-day moving average is $171.17. Futu has a 1-year low of $70.60 and a 1-year high of $202.53. The stock has a market cap of $21.33 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 0.39 and a beta of 0.43.

Futu Company Profile

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.