Analysts Set Futu Holdings Limited (NASDAQ:FUTU) PT at $107.00

Futu Holdings Limited (NASDAQ:FUTU) has been given a consensus recommendation of “Moderate Buy” by the five ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $121.20.

A number of analysts recently weighed in on the stock. UBS Group upped their price target 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 price objective on shares of Futu from $160.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, March 14th.

Futu Trading Down 2.5 %

Shares of Futu stock opened at $106.36 on Monday. The company has a fifty day moving average price of $104.81 and a 200 day moving average price of $93.21. Futu has a twelve month low of $51.80 and a twelve month high of $130.88. The stock has a market cap of $14.66 billion, a price-to-earnings ratio of 26.07, a price-to-earnings-growth ratio of 0.79 and a beta of 0.78.

Hedge Funds Weigh In On Futu

A number of institutional investors have recently added to or reduced their stakes in FUTU. Janney Montgomery Scott LLC lifted its holdings in Futu by 20.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 9,841 shares of the company’s stock worth $941,000 after buying an additional 1,650 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of Futu in the 3rd quarter valued at about $346,000. Sumitomo Mitsui Trust Group Inc. raised its stake 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 valued at $11,245,000 after purchasing an additional 15,127 shares in the last quarter. CIBC Asset Management Inc raised its stake 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 valued at $517,000 after purchasing an additional 222 shares in the last quarter. Finally, Natixis Advisors LLC acquired a new stake in shares of Futu in the 3rd quarter valued at about $1,100,000.

Futu Company Profile

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.