Futu (NASDAQ:FUTU - Get Free Report) had its target price increased by UBS Group from $130.00 to $136.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. UBS Group's price target indicates a potential upside of 27.39% from the company's previous close.
A number of other research firms have also recently issued reports on FUTU. Citigroup cut Futu from a "buy" rating to a "neutral" rating and boosted their price objective for the company from $79.00 to $95.00 in a report on Tuesday, November 19th. JPMorgan Chase & Co. boosted their price objective on Futu from $160.00 to $170.00 and gave the company an "overweight" rating in a report on Friday, March 14th. Finally, Morgan Stanley upgraded Futu from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $70.00 to $115.00 in a report on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $121.20.
View Our Latest Stock Analysis on FUTU
Futu Stock Down 2.2 %
FUTU traded down $2.37 during trading hours on Monday, reaching $106.76. 1,217,479 shares of the company's stock traded hands, compared to its average volume of 2,534,216. The firm has a 50-day moving average price of $104.19 and a 200 day moving average price of $92.46. Futu has a 52-week low of $51.80 and a 52-week high of $130.88. The firm has a market capitalization of $14.71 billion, a PE ratio of 26.22, a PEG ratio of 0.79 and a beta of 0.78.
Institutional Investors Weigh In On Futu
Several hedge funds have recently made changes to their positions in FUTU. Crossmark Global Holdings Inc. purchased a new stake in shares of Futu in the 3rd quarter worth $346,000. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Futu by 14.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 117,561 shares of the company's stock worth $11,245,000 after acquiring an additional 15,127 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Futu by 4.3% in the 3rd quarter. CIBC Asset Management Inc now owns 5,403 shares of the company's stock worth $517,000 after acquiring an additional 222 shares in the last quarter. Natixis Advisors LLC bought a new position in shares of Futu in the 3rd quarter worth $1,100,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Futu by 127.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 52,530 shares of the company's stock worth $5,024,000 after acquiring an additional 29,401 shares in the last quarter.
Futu Company Profile
(
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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