Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) Receives $210.57 Consensus PT from Brokerages

Shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) have been given a consensus recommendation of “Buy” by the nine analysts that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $210.5650.

A number of analysts have weighed in on FUTU shares. Barclays lowered their target price on Futu from $236.00 to $200.00 and set an “overweight” rating for the company in a report on Monday, March 16th. Weiss Ratings reissued a “hold (c+)” rating on shares of Futu in a research report on Thursday, January 22nd. Finally, The Goldman Sachs Group upgraded Futu from a “neutral” rating to a “buy” rating and set a $213.39 price objective for the company in a research note on Monday, February 2nd.

Institutional Trading of Futu

Hedge funds have recently modified their holdings of the company. Geneos Wealth Management Inc. bought a new position in shares of Futu during the 1st quarter worth approximately $27,000. Cooper Investors PTY Ltd. acquired a new stake in Futu in the third quarter valued at approximately $29,000. Rockefeller Capital Management L.P. boosted its stake in Futu by 59.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 226 shares of the company’s stock valued at $37,000 after acquiring an additional 84 shares in the last quarter. TD Private Client Wealth LLC grew its holdings in Futu by 6,075.0% in the third quarter. TD Private Client Wealth LLC now owns 247 shares of the company’s stock worth $43,000 after purchasing an additional 243 shares during the last quarter. Finally, Hilton Head Capital Partners LLC purchased a new position in Futu in the fourth quarter worth $49,000.

Futu Stock Performance

NASDAQ:FUTU opened at $136.34 on Tuesday. The firm has a 50-day simple moving average of $152.04 and a 200-day simple moving average of $166.02. Futu has a one year low of $70.60 and a one year high of $202.53. The firm has a market cap of $18.97 billion, a P/E ratio of 13.26, a P/E/G ratio of 0.81 and a beta of 0.38.

Futu (NASDAQ:FUTU) last released its quarterly earnings data 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 firm had revenue of $827.15 million for 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%. On average, research analysts predict that Futu will post 4.94 EPS for the current fiscal 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.