Futu Holdings Limited (NASDAQ:FUTU) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Futu Holdings Limited (NASDAQ:FUTU) has earned a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $121.20.

Several equities research analysts have recently weighed in on FUTU shares. UBS Group boosted their target price on shares of Futu from $130.00 to $136.00 and gave the stock a “buy” rating in a research report on Monday, March 17th. JPMorgan Chase & Co. boosted their target price on shares of Futu from $160.00 to $170.00 and gave the stock an “overweight” rating in a research report on Friday, March 14th.

Institutional Investors Weigh In On Futu

A number of institutional investors have recently modified their holdings of the business. Mackenzie Financial Corp grew its position in Futu by 2.0% in the 4th quarter. Mackenzie Financial Corp now owns 4,475 shares of the company’s stock worth $358,000 after purchasing an additional 87 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Futu by 1.2% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,326 shares of the company’s stock worth $746,000 after purchasing an additional 113 shares during the last quarter. Rhumbline Advisers grew its position in Futu by 0.6% in the 4th quarter. Rhumbline Advisers now owns 23,023 shares of the company’s stock worth $1,842,000 after purchasing an additional 144 shares during the last quarter. Vestcor Inc grew its position in Futu by 19.2% in the 4th quarter. Vestcor Inc now owns 907 shares of the company’s stock worth $73,000 after purchasing an additional 146 shares during the last quarter. Finally, Voya Investment Management LLC grew its position in Futu by 1.6% in the 4th quarter. Voya Investment Management LLC now owns 9,549 shares of the company’s stock worth $764,000 after purchasing an additional 153 shares during the last quarter.

Futu Stock Performance

FUTU opened at $106.36 on Monday. The company has a 50-day moving average of $104.81 and a 200-day moving average of $92.76. The company has a market capitalization of $14.66 billion, a P/E ratio of 26.07, a PEG ratio of 0.79 and a beta of 0.78. Futu has a 1-year low of $51.80 and a 1-year high of $130.88.

About Futu

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.