Bank of America Raises Futu (NASDAQ:FUTU) Price Target to $90.00

Futu (NASDAQ:FUTU) had its price target hoisted by Bank of America from $80.20 to $90.00 in a research report report published on Friday, Benzinga reports. They currently have a buy rating on the stock.

Futu Stock Performance

FUTU stock opened at $95.65 on Friday. Futu has a one year low of $43.61 and a one year high of $102.99. The firm has a market cap of $13.18 billion, a PE ratio of 25.30, a PEG ratio of 1.04 and a beta of 0.72. The firm’s 50 day moving average price is $62.82 and its 200-day moving average price is $64.88.

Futu (NASDAQ:FUTU) last posted its earnings results on Tuesday, August 20th. The company reported $1.11 EPS for the quarter. The company had revenue of $400.73 million for the quarter. Futu had a return on equity of 16.77% and a net margin of 39.27%. Equities research analysts predict that Futu will post 4.51 EPS for the current fiscal year.

Hedge Funds Weigh In On Futu

Large investors have recently made changes to their positions in the stock. UniSuper Management Pty Ltd raised its holdings in shares of Futu by 100.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock valued at $43,000 after buying an additional 400 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in Futu in the 2nd quarter valued at about $50,000. Barometer Capital Management Inc. purchased a new stake in Futu during the fourth quarter worth about $120,000. SG Americas Securities LLC purchased a new stake in Futu during the second quarter worth about $123,000. Finally, Atlas Capital Advisors LLC acquired a new stake in shares of Futu during the second quarter worth about $142,000.

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.