Brokerages Set Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) Price Target at $190.43

Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) has received an average recommendation of “Buy” from the nine brokerages that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $190.4286.

A number of research analysts recently commented on the company. Citigroup raised their price target on Futu from $176.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, August 21st. Daiwa Capital Markets assumed coverage on shares of Futu in a report on Monday, August 11th. They issued a “buy” rating and a $190.00 target price on the stock. Bank of America boosted their target price on shares of Futu from $172.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 21st. JPMorgan Chase & Co. increased their price target on shares of Futu from $200.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Finally, Dbs Bank raised shares of Futu to a “moderate buy” rating in a research note on Thursday, September 4th.

Futu Price Performance

Futu stock opened at $166.25 on Tuesday. The stock’s fifty day moving average price is $173.94 and its two-hundred day moving average price is $132.21. The firm has a market cap of $23.13 billion, a PE ratio of 23.06, a price-to-earnings-growth ratio of 0.77 and a beta of 0.48. Futu has a one year low of $70.60 and a one year high of $199.86.

Hedge Funds Weigh In On Futu

Institutional investors have recently modified their holdings of the business. Erste Asset Management GmbH acquired a new stake in Futu in the first quarter valued at about $1,036,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Futu by 8.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 67,430 shares of the company’s stock worth $6,901,000 after acquiring an additional 5,056 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Futu by 1,137.6% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 17,500 shares of the company’s stock valued at $1,791,000 after purchasing an additional 16,086 shares in the last quarter. Swedbank AB grew its holdings in shares of Futu by 729.5% during the 2nd quarter. Swedbank AB now owns 50,600 shares of the company’s stock valued at $6,254,000 after purchasing an additional 44,500 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new stake in shares of Futu during the 1st quarter valued at approximately $16,112,000.

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.