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

Shares of Futu Holdings Limited (NASDAQ:FUTU) have been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $72.97.

Separately, Bank of America increased their price target on shares of Futu from $80.20 to $90.00 and gave the company a “buy” rating in a research note on Friday, September 27th.

Futu Stock Performance

NASDAQ:FUTU opened at $127.98 on Friday. The stock’s 50-day simple moving average is $66.01 and its 200 day simple moving average is $65.99. Futu has a 52-week low of $43.61 and a 52-week high of $128.30. The company has a market cap of $17.63 billion, a P/E ratio of 33.86, a P/E/G ratio of 1.04 and a beta of 0.74.

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

Institutional Investors Weigh In On Futu

A number of large investors have recently added to or reduced their stakes in FUTU. Norges Bank bought a new position in shares of Futu in the fourth quarter valued at about $11,472,000. Franklin Resources Inc. bought a new position in Futu in the 4th quarter valued at about $2,474,000. Hsbc Holdings PLC lifted its position in Futu by 889.5% during the fourth quarter. Hsbc Holdings PLC now owns 175,458 shares of the company’s stock worth $9,586,000 after acquiring an additional 197,683 shares during the last quarter. CenterBook Partners LP bought a new stake in shares of Futu during the fourth quarter worth approximately $591,000. Finally, Prudential PLC grew its position in shares of Futu by 23.2% in the fourth quarter. Prudential PLC now owns 597,476 shares of the company’s stock valued at $32,640,000 after purchasing an additional 112,497 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.