Futu Holdings Limited (NASDAQ:FUTU - Get Free Report) has earned an average recommendation of "Moderate Buy" from the seven ratings firms that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $72.97.
Separately, Bank of America raised their price objective on shares of Futu from $80.20 to $90.00 and gave the company a "buy" rating in a research report on Friday.
Check Out Our Latest Research Report on FUTU
Futu Stock Up 5.2 %
FUTU traded up $4.21 during trading on Friday, reaching $85.68. The stock had a trading volume of 5,115,057 shares, compared to its average volume of 1,522,822. Futu has a 1-year low of $43.61 and a 1-year high of $85.99. The firm has a market capitalization of $11.81 billion, a price-to-earnings ratio of 22.67, a price-to-earnings-growth ratio of 1.04 and a beta of 0.72. The stock has a 50 day moving average of $62.15 and a two-hundred day moving average of $64.61.
Futu (NASDAQ:FUTU - Get Free Report) last announced its quarterly earnings data on Tuesday, August 20th. The company reported $1.11 earnings per share 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%. On average, research analysts forecast that Futu will post 4.51 EPS for the current fiscal year.
Institutional Trading of Futu
Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Futu in the fourth quarter worth approximately $11,472,000. Franklin Resources Inc. acquired a new stake in Futu during the 4th quarter valued at $2,474,000. Hsbc Holdings PLC lifted its holdings in shares of Futu by 889.5% in the fourth quarter. Hsbc Holdings PLC now owns 175,458 shares of the company's stock valued at $9,586,000 after purchasing an additional 197,683 shares in the last quarter. CenterBook Partners LP acquired a new stake in shares of Futu in the fourth quarter worth $591,000. Finally, Prudential PLC grew its holdings in shares of Futu by 23.2% during the fourth quarter. Prudential PLC now owns 597,476 shares of the company's stock valued at $32,640,000 after buying an additional 112,497 shares in the last quarter.
About Futu
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Get Free ReportFutu 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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