Brokerages Set Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) PT at $205.06

Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) has received a consensus recommendation of “Buy” from the ten research firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $205.0557.

Several brokerages recently weighed in on FUTU. The Goldman Sachs Group upgraded 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 note on Thursday, January 22nd. Finally, Barclays increased their price objective on Futu from $232.00 to $236.00 and gave the company an “overweight” rating in a report on Thursday, November 20th.

Institutional Investors Weigh In On Futu

Hedge funds have recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Futu by 805.2% in 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 acquiring an additional 1,002,171 shares during the period. Aspex Management HK Ltd boosted its holdings in Futu by 37.5% during the fourth quarter. Aspex Management HK Ltd now owns 3,371,597 shares of the company’s stock worth $553,650,000 after buying an additional 919,724 shares in the last quarter. AGF Management Ltd. purchased a new position in Futu in the third quarter valued at $149,432,000. Arrowstreet Capital Limited Partnership increased its holdings 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 buying an additional 822,343 shares in the last quarter. Finally, Tredje AP fonden boosted its stake in shares of Futu by 3,579.1% during the 3rd quarter. Tredje AP fonden now owns 688,000 shares of the company’s stock worth $119,650,000 after acquiring an additional 669,300 shares in the last quarter.

Futu Trading Down 1.2%

FUTU opened at $144.48 on Friday. Futu has a 12 month low of $70.60 and a 12 month high of $202.53. The stock has a fifty day moving average price of $161.51 and a 200-day moving average price of $170.36. The firm has a market cap of $20.10 billion, a price-to-earnings ratio of 16.18, a PEG ratio of 0.38 and a beta of 0.38.

About Futu

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.