Futu (NASDAQ:FUTU) Stock Price Expected to Rise, UBS Group Analyst Says

Futu (NASDAQ:FUTU) had its price objective raised by stock analysts at UBS Group from $130.00 to $136.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price objective points to a potential upside of 18.81% from the company’s previous close.

Several other brokerages have also issued reports on FUTU. Citigroup lowered shares of Futu from a “buy” rating to a “neutral” rating and boosted their price target for the company from $79.00 to $95.00 in a report on Tuesday, November 19th. JPMorgan Chase & Co. boosted their price target on shares of Futu from $160.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, March 14th. Finally, Morgan Stanley raised shares of Futu from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $70.00 to $115.00 in a report on Monday, November 18th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Futu presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.20.

Futu Price Performance

NASDAQ:FUTU opened at $114.47 on Monday. The stock has a market cap of $15.77 billion, a P/E ratio of 28.06, a PEG ratio of 0.79 and a beta of 0.78. Futu has a one year low of $51.80 and a one year high of $130.88. The company has a fifty day moving average price of $102.81 and a 200 day moving average price of $92.19.

Institutional Investors Weigh In On Futu

Several large investors have recently made changes to their positions in FUTU. Crossmark Global Holdings Inc. bought a new stake in shares of Futu in the 3rd quarter worth about $346,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Futu by 14.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 117,561 shares of the company’s stock worth $11,245,000 after purchasing an additional 15,127 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Futu by 4.3% in the 3rd quarter. CIBC Asset Management Inc now owns 5,403 shares of the company’s stock worth $517,000 after purchasing an additional 222 shares during the last quarter. Natixis Advisors LLC bought a new stake in shares of Futu in the 3rd quarter worth about $1,100,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Futu by 127.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 52,530 shares of the company’s stock worth $5,024,000 after purchasing an additional 29,401 shares during the last quarter.

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.