Futu (NASDAQ:FUTU) Price Target Raised to $170.00 at JPMorgan Chase & Co.

Futu (NASDAQ:FUTU) had its price target lifted by JPMorgan Chase & Co. from $160.00 to $170.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other brokerages have also weighed in on FUTU. Morgan Stanley raised shares of Futu from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $70.00 to $115.00 in a research report on Monday, November 18th. Citigroup lowered shares of Futu from a “buy” rating to a “neutral” rating and raised their price target for the stock from $79.00 to $95.00 in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Futu presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.00.

Futu Price Performance

Shares of FUTU opened at $118.47 on Friday. The firm has a market capitalization of $16.32 billion, a PE ratio of 29.04, a PEG ratio of 0.79 and a beta of 0.78. The company’s 50-day moving average is $101.39 and its 200-day moving average is $91.43. Futu has a fifty-two week low of $51.80 and a fifty-two week high of $130.88.

Hedge Funds Weigh In On Futu

Hedge funds have recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. increased 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 valued at $11,245,000 after buying an additional 15,127 shares during the period. Y Intercept Hong Kong Ltd increased its holdings in Futu by 136.9% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 42,149 shares of the company’s stock valued at $4,032,000 after buying an additional 24,355 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Futu by 127.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 52,530 shares of the company’s stock valued at $5,024,000 after buying an additional 29,401 shares during the period. Natixis Advisors LLC bought a new position in Futu in the 3rd quarter valued at about $1,100,000. Finally, Monolith Management Ltd bought a new position in Futu in the 3rd quarter valued at about $6,217,000.

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.