Analysts Set Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) Price Target at $205.06

Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) has been given an average recommendation of “Buy” by the ten brokerages that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $205.0557.

FUTU has been the topic of a number of recent analyst reports. Barclays increased their price target on shares of Futu from $232.00 to $236.00 and gave the stock an “overweight” rating in a report on Thursday, November 20th. The Goldman Sachs Group upgraded shares of Futu from a “neutral” rating to a “buy” rating and set a $213.39 target price on the stock in a research note on Monday, February 2nd. Weiss Ratings restated a “hold (c+)” rating on shares of Futu in a research report on Thursday, January 22nd. Finally, Zacks Research raised shares of Futu from a “hold” rating to a “strong-buy” rating in a report on Monday, November 3rd.

Futu Price Performance

NASDAQ:FUTU opened at $151.49 on Monday. Futu has a 1 year low of $70.60 and a 1 year high of $202.53. The stock’s fifty day moving average price is $168.24 and its two-hundred day moving average price is $171.87. The company has a market cap of $21.08 billion, a P/E ratio of 16.96, a P/E/G ratio of 0.39 and a beta of 0.43.

Futu (NASDAQ:FUTU) last released its quarterly earnings data on Tuesday, November 18th. The company reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.54 by $0.39. Futu had a return on equity of 30.59% and a net margin of 47.11%.The company had revenue of $822.80 million for the quarter, compared to analyst estimates of $631.51 million. On average, analysts expect that Futu will post 4.94 earnings per share for the current fiscal year.

Institutional Trading of Futu

A number of large investors have recently modified their holdings of FUTU. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Futu by 805.2% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,126,633 shares of the company’s stock worth $195,933,000 after buying an additional 1,002,171 shares during the last quarter. AGF Management Ltd. purchased a new position in Futu in the third quarter worth $149,432,000. Arrowstreet Capital Limited Partnership increased its stake in Futu by 113.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,544,025 shares of the company’s stock valued at $190,826,000 after acquiring an additional 822,343 shares during the last quarter. Tredje AP fonden raised its position in Futu by 3,579.1% during the third quarter. Tredje AP fonden now owns 688,000 shares of the company’s stock valued at $119,650,000 after purchasing an additional 669,300 shares in the last quarter. Finally, Aspex Management HK Ltd lifted its stake in Futu by 21.1% during the second quarter. Aspex Management HK Ltd now owns 3,393,307 shares of the company’s stock worth $419,379,000 after purchasing an additional 591,082 shares during the last quarter.

Futu Company Profile

Futu Holdings Ltd. is a technology-driven brokerage and wealth management company that provides online brokerage services, market data, and investment tools to retail and institutional clients. Headquartered in Hong Kong and listed on the NASDAQ under the ticker FUTU, the company operates digital trading platforms that combine order execution, real-time quotes, news, and research tools to serve active investors and wealth management customers.

The firm’s product suite includes brokerage access to equities, exchange-traded funds and derivatives across major markets, margin financing, initial public offering (IPO) subscription services, wealth management products and discretionary investment solutions.