Futu Holdings Limited (NASDAQ:FUTU - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $84.69, but opened at $81.68. Futu shares last traded at $82.18, with a volume of 900,402 shares changing hands.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the company. Morgan Stanley raised Futu from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $70.00 to $115.00 in a report on Monday, November 18th. Citigroup downgraded shares of Futu from a "buy" rating to a "neutral" rating and boosted their price target for the stock from $79.00 to $95.00 in a research report on Tuesday. Finally, Bank of America upped their price objective on Futu from $80.20 to $90.00 and gave the company a "buy" rating in a report on Friday, September 27th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Futu presently has a consensus rating of "Moderate Buy" and an average price target of $85.07.
Check Out Our Latest Stock Report on Futu
Futu Stock Performance
The stock has a market cap of $11.60 billion, a PE ratio of 20.64, a PEG ratio of 0.26 and a beta of 0.75. The stock has a 50 day moving average of $92.90 and a two-hundred day moving average of $75.66.
Futu (NASDAQ:FUTU - Get Free Report) last issued its quarterly earnings results on Tuesday, August 20th. The company reported $1.11 earnings per share for the quarter. The business had revenue of $400.73 million for the quarter. Futu had a return on equity of 16.86% and a net margin of 38.59%. Analysts expect that Futu Holdings Limited will post 15.79 EPS for the current fiscal year.
Institutional Investors Weigh In On Futu
Several institutional investors and hedge funds have recently modified their holdings of FUTU. GAMMA Investing LLC grew its holdings in Futu by 181.5% in the 3rd quarter. GAMMA Investing LLC now owns 594 shares of the company's stock valued at $57,000 after buying an additional 383 shares during the last quarter. CWM LLC lifted its holdings in Futu by 67.7% during the 3rd quarter. CWM LLC now owns 743 shares of the company's stock valued at $71,000 after purchasing an additional 300 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Futu during the 2nd quarter worth approximately $50,000. UniSuper Management Pty Ltd increased its holdings in Futu by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 800 shares of the company's stock valued at $43,000 after purchasing an additional 400 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in Futu in the third quarter worth $92,000.
About Futu
(
Get Free Report)
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.
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