Brokerages Set Futu Holdings Limited (NASDAQ:FUTU) Target Price at $72.97

Shares of Futu Holdings Limited (NASDAQ:FUTU - Get Free Report) have been given an average recommendation of "Moderate Buy" by the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $72.97.

Separately, Bank of America increased their price target on shares of Futu from $80.20 to $90.00 and gave the company a "buy" rating in a research note on Friday, September 27th.

Institutional Trading of Futu

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in Futu by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 545,949 shares of the company's stock worth $51,475,000 after purchasing an additional 17,513 shares in the last quarter. M&T Bank Corp purchased a new stake in shares of Futu during the third quarter worth approximately $203,000. Public Employees Retirement System of Ohio acquired a new stake in Futu in the third quarter valued at approximately $373,000. Y Intercept Hong Kong Ltd raised its stake in Futu by 136.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 42,149 shares of the company's stock worth $4,032,000 after acquiring an additional 24,355 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its position in Futu by 130.9% in the third quarter. Quantinno Capital Management LP now owns 28,134 shares of the company's stock valued at $2,691,000 after acquiring an additional 15,949 shares during the last quarter.

Futu Price Performance

FUTU stock traded up $0.40 during trading on Friday, hitting $89.08. The stock had a trading volume of 1,268,758 shares, compared to its average volume of 3,497,425. Futu has a twelve month low of $43.61 and a twelve month high of $130.50. The stock has a market capitalization of $12.27 billion, a P/E ratio of 23.02, a PEG ratio of 0.93 and a beta of 0.75. The company's 50-day moving average price is $90.00 and its two-hundred day moving average price is $75.15.

Futu (NASDAQ:FUTU - Get Free Report) last posted its quarterly earnings results on Tuesday, August 20th. The company reported $1.11 earnings per share (EPS) for the quarter. The business had revenue of $400.73 million during the quarter. Futu had a return on equity of 16.77% and a net margin of 39.27%. As a group, sell-side analysts expect that Futu will post 4.75 EPS for the current fiscal year.

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.