Futu (NASDAQ:FUTU) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of Futu (NASDAQ:FUTU) from a hold rating to a strong-buy rating in a research report report published on Monday morning,Zacks.com reports.

Other analysts have also issued reports about the company. Bank of America lifted their price target on Futu from $172.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Futu in a research note on Wednesday, October 8th. Barclays upped their target price on shares of Futu from $176.00 to $232.00 and gave the stock an “overweight” rating in a report on Friday, August 22nd. Citigroup raised their price target on shares of Futu from $176.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, August 21st. Finally, JPMorgan Chase & Co. upped their target price on Futu from $200.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $190.43.

Futu Stock Performance

FUTU stock opened at $179.54 on Monday. The firm has a market cap of $24.98 billion, a PE ratio of 24.90, a P/E/G ratio of 0.70 and a beta of 0.49. Futu has a one year low of $70.60 and a one year high of $202.53. The firm’s fifty day moving average is $177.28 and its 200 day moving average is $146.09.

Institutional Trading of Futu

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FUTU. IFM Investors Pty Ltd boosted its position in shares of Futu by 4.6% during the first quarter. IFM Investors Pty Ltd now owns 11,192 shares of the company’s stock worth $1,071,000 after buying an additional 497 shares during the period. LBP AM SA acquired a new position in Futu during the 1st quarter worth about $3,480,000. Diversify Wealth Management LLC lifted its stake in Futu by 18.0% during the 1st quarter. Diversify Wealth Management LLC now owns 7,159 shares of the company’s stock worth $733,000 after acquiring an additional 1,092 shares in the last quarter. Signaturefd LLC grew its position in Futu by 11.2% in the 1st quarter. Signaturefd LLC now owns 3,502 shares of the company’s stock valued at $358,000 after acquiring an additional 354 shares in the last quarter. Finally, Jennison Associates LLC purchased a new stake in Futu during the first quarter worth about $42,610,000.

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.