Futu (NASDAQ:FUTU) Price Target Cut to $200.00 by Analysts at Barclays

Futu (NASDAQ:FUTU) had its price objective reduced by Barclays from $236.00 to $200.00 in a report released on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

FUTU has been the subject of several other research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Futu in a report on Thursday, January 22nd. The Goldman Sachs Group raised Futu from a “neutral” rating to a “buy” rating and set a $213.39 price target for the company in a report on Monday, February 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $210.57.

Futu Price Performance

NASDAQ:FUTU opened at $149.05 on Monday. The company’s fifty day moving average price is $158.34 and its 200-day moving average price is $168.39. Futu has a 1-year low of $70.60 and a 1-year high of $202.53. The firm has a market capitalization of $20.74 billion, a P/E ratio of 14.50, a PEG ratio of 0.35 and a beta of 0.38.

Futu (NASDAQ:FUTU) last posted its earnings results on Thursday, March 12th. The company reported $3.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.06 by $0.01. The company had revenue of $827.15 million during the quarter, compared to the consensus estimate of $788.73 million. Futu had a net margin of 49.63% and a return on equity of 32.24%. Equities analysts anticipate that Futu will post 4.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Futu

Hedge funds have recently modified their holdings of the company. AQR Capital Management LLC acquired a new stake in shares of Futu during the 1st quarter valued at about $235,000. Jones Financial Companies Lllp raised its holdings in Futu by 442.4% in the 1st quarter. Jones Financial Companies Lllp now owns 640 shares of the company’s stock worth $66,000 after purchasing an additional 522 shares during the period. Goldman Sachs Group Inc. boosted its position in Futu by 3.7% during the first quarter. Goldman Sachs Group Inc. now owns 459,175 shares of the company’s stock worth $46,997,000 after purchasing an additional 16,255 shares in the last quarter. Geneos Wealth Management Inc. purchased a new position in Futu during the first quarter worth approximately $27,000. Finally, Envestnet Asset Management Inc. grew its holdings in Futu by 19.3% in the second quarter. Envestnet Asset Management Inc. now owns 11,911 shares of the company’s stock valued at $1,472,000 after purchasing an additional 1,931 shares during the period.

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.