Analysts Set Futu Holdings Limited (NASDAQ:FUTU) PT at $72.97

Shares of Futu Holdings Limited (NASDAQ:FUTU) have been given a consensus rating of “Moderate Buy” by the six brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $87.33.

Several research analysts have commented on FUTU shares. 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 research report on Tuesday, November 19th. Morgan Stanley upgraded Futu from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $70.00 to $115.00 in a research report on Monday, November 18th. Finally, Bank of America lifted their price target on Futu from $80.20 to $90.00 and gave the company a “buy” rating in a research report on Friday, September 27th.

Futu Trading Down 0.6 %

FUTU stock opened at $84.22 on Friday. The firm has a 50 day moving average of $92.90 and a 200-day moving average of $75.66. The firm has a market capitalization of $11.60 billion, a P/E ratio of 20.64, a price-to-earnings-growth ratio of 0.26 and a beta of 0.75. Futu has a 12 month low of $43.61 and a 12 month high of $130.50.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of FUTU. APG Asset Management N.V. purchased a new position in Futu in the 2nd quarter worth approximately $496,000. Valliance Asset Management Ltd purchased a new position in shares of Futu in the third quarter worth $956,000. Sei Investments Co. raised its holdings in Futu by 261.3% during the 2nd quarter. Sei Investments Co. now owns 25,351 shares of the company’s stock valued at $1,663,000 after buying an additional 18,334 shares during the last quarter. Seven Eight Capital LP purchased a new stake in Futu during the 2nd quarter valued at $1,956,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in 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 acquiring an additional 15,127 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.