Futu (NASDAQ:FUTU – Get a rating) saw its price target raised by Citigroup stock research analysts from $58.00 to $64.10 in a research report released on Wednesday, reports The Fly. Citigroup’s price target indicates upside potential of 39.68% from the stock’s previous close.
A number of other stock analysts have also recently published reports on FUTU. CLSA reduced Futu’s shares from an “underperform” rating to a “sell” rating and set a price target of $27.00 for the stock. in a research report on Monday, June 6. JPMorgan Chase & Co. downgraded Futu shares from an “overweight” rating to a “neutral” rating and set a price target of $55.00 for the company. in a research note on Thursday, June 23. Finally, Bank of America cut its price target on Futu shares from $60.60 to $51.50 in a report on Sunday, August 14. One equity research analyst has assigned the stock a sell rating, three have issued a hold rating and one has assigned the company’s stock a buy rating. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $49.40.
Futu Stock down 0.8%
Shares of NASDAQ FUTU opened at $45.89 on Wednesday. The company’s 50-day moving average price is $45.43 and its two-hundred-day moving average price is $38.43. The company has a market capitalization of $6.90 billion, a PE ratio of 24.67, a growth price-earnings ratio of 1.30 and a beta of 0.24. Futu has a 12-month low of $21.23 and a 12-month high of $114.99.
Futu (NASDAQ:FUTU – Get Rating) last released its quarterly results on Monday, June 6. The company reported earnings per share (EPS) of $0.49 for the quarter. Futu had a return on equity of 10.59% and a net margin of 33.88%. The company had revenue of $209.51 million in the quarter. In the same quarter last year, the company posted earnings per share of $1.03. As a group, research analysts expect Futu to post EPS of 2.13 for the current fiscal year.
Hedge funds weigh on the future
A number of large investors have recently changed their positions in the company. DekaBank Deutsche Girozentrale strengthened its position in Futu by 5.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 5,120 shares of the company valued at $259,000 after purchasing an additional 262 shares during the period. Toroso Investments LLC increased its position in Futu by 2.9% in the 1st quarter. Toroso Investments LLC now owns 13,502 shares of the company valued at $440,000 after purchasing an additional 378 shares during the period. Edmond DE Rothschild Holding SA strengthened its position in Futu by 25.2% in the 2nd quarter. Edmond DE Rothschild Holding SA now owns 2,132 shares in the company valued at $111,000 after purchasing an additional 429 shares during the period. FNY Investment Advisers LLC acquired a new stake in Futu in Q2, valued at approximately $38,000. Finally, Capital Impact Advisors LLC strengthened its position in Futu by 8.4% in the 4th quarter. Capital Impact Advisors LLC now owns 10,436 shares of the company valued at $1,041,000 after purchasing an additional 809 shares during the period. 19.84% of the shares are held by hedge funds and other institutional investors.
(Get a rating)
Futu Holdings Limited operates an online brokerage and wealth management platform in Hong Kong and internationally. The Company provides trading, clearing and settlement services; margin financing and securities lending services; and inventory performance improvement program. It also offers online wealth management services under the Futu Money Plus brand through its Futubull and moomoo platforms, which provide access to mutual funds, private funds and bonds; market data and information services; and the NiuNiu Community, which serves as an open forum for users and customers to share ideas, ask questions, and exchange ideas.
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