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

Shares of Futu Holdings Limited (NASDAQ:FUTU - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $72.97.

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

Futu Trading Up 0.0 %

Shares of FUTU stock opened at $92.37 on Wednesday. Futu has a twelve month low of $43.61 and a twelve month high of $130.50. The stock has a market cap of $12.73 billion, a P/E ratio of 24.44, a P/E/G ratio of 1.65 and a beta of 0.74. The stock has a 50 day moving average of $77.87 and a 200 day moving average of $70.67.

Futu (NASDAQ:FUTU - Get Free Report) last released its quarterly earnings data on Tuesday, August 20th. The company reported $1.11 earnings per share for the quarter. The company had revenue of $400.73 million during the quarter. Futu had a net margin of 39.27% and a return on equity of 16.77%. On average, research analysts predict that Futu will post 4.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Futu

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UniSuper Management Pty Ltd boosted its position in shares of 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 acquiring an additional 400 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Futu during the second quarter worth about $50,000. GAMMA Investing LLC boosted 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 purchasing an additional 383 shares during the last quarter. CWM LLC grew its stake in shares of Futu by 67.7% in the 3rd quarter. CWM LLC now owns 743 shares of the company's stock valued at $71,000 after buying an additional 300 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Futu during the 2nd quarter worth approximately $123,000.

About Futu

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.