Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) Receives Average Recommendation of “Buy” from Brokerages

Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) has been assigned a consensus recommendation of “Buy” from the nine research firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $210.5650.

A number of analysts recently issued reports on FUTU shares. Barclays dropped their price target on shares of Futu from $236.00 to $200.00 and set an “overweight” rating for the company in a research note on Monday, March 16th. The Goldman Sachs Group raised shares of Futu from a “neutral” rating to a “buy” rating and set a $213.39 price objective for the company in a report on Monday, February 2nd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Futu in a research report on Thursday, January 22nd.

Futu Stock Performance

Shares of FUTU opened at $140.04 on Tuesday. Futu has a one year low of $70.60 and a one year high of $202.53. The stock has a 50-day moving average price of $154.39 and a 200 day moving average price of $166.74. The company has a market capitalization of $19.49 billion, a P/E ratio of 13.62, a P/E/G ratio of 0.78 and a beta of 0.38.

Futu (NASDAQ:FUTU) last posted its quarterly earnings data on Thursday, March 12th. The company reported $3.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $0.01. Futu had a return on equity of 32.24% and a net margin of 49.63%.The company had revenue of $827.15 million for the quarter, compared to the consensus estimate of $788.73 million. As a group, equities research analysts forecast that Futu will post 4.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of FUTU. Aspex Management HK Ltd increased its holdings in shares of Futu by 21.1% in the 2nd quarter. Aspex Management HK Ltd now owns 3,393,307 shares of the company’s stock valued at $419,379,000 after acquiring an additional 591,082 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Futu by 7.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,660,168 shares of the company’s stock worth $288,720,000 after purchasing an additional 116,143 shares during the last quarter. State Street Corp boosted its holdings in Futu by 18.4% in the second quarter. State Street Corp now owns 1,212,481 shares of the company’s stock worth $149,851,000 after purchasing an additional 188,840 shares during the period. Greenwoods Asset Management Hong Kong Ltd. boosted its holdings in Futu by 14.0% in the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 1,135,821 shares of the company’s stock worth $186,513,000 after purchasing an additional 139,473 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Futu by 805.2% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,126,633 shares of the company’s stock valued at $195,933,000 after purchasing an additional 1,002,171 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.