Futu (NASDAQ:FUTU) Given New $136.00 Price Target at UBS Group

Futu (NASDAQ:FUTU) had its price target raised by equities research analysts at UBS Group from $130.00 to $136.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price objective would suggest a potential upside of 18.81% from the stock’s previous close.

A number of other equities research analysts have also commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Futu from $160.00 to $170.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Citigroup lowered shares of Futu from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $79.00 to $95.00 in a report on Tuesday, November 19th. Finally, Morgan Stanley upgraded shares of Futu from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $70.00 to $115.00 in a research report on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Futu presently has an average rating of “Moderate Buy” and a consensus target price of $121.20.

Futu Stock Down 2.3 %

Shares of NASDAQ:FUTU opened at $114.47 on Monday. Futu has a 12 month low of $51.80 and a 12 month high of $130.88. The company’s 50-day moving average price is $102.81 and its two-hundred day moving average price is $92.19. The firm has a market cap of $15.77 billion, a P/E ratio of 28.06, a P/E/G ratio of 0.79 and a beta of 0.78.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FUTU. Smartleaf Asset Management LLC lifted its position in Futu by 1,245.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 444 shares of the company’s stock valued at $36,000 after purchasing an additional 411 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Futu by 77.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company’s stock valued at $36,000 after acquiring an additional 197 shares during the period. Rakuten Securities Inc. raised its position in shares of Futu by 239.8% in the 4th quarter. Rakuten Securities Inc. now owns 683 shares of the company’s stock valued at $55,000 after acquiring an additional 482 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Futu in the 4th quarter valued at approximately $60,000. Finally, Assetmark Inc. raised its position in shares of Futu by 15,200.0% in the 4th quarter. Assetmark Inc. now owns 765 shares of the company’s stock valued at $61,000 after acquiring an additional 760 shares during the period.

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.