Futu (NASDAQ:FUTU) Price Target Raised to $136.00

Futu (NASDAQ:FUTU) had its target price raised by UBS Group from $130.00 to $136.00 in a research report released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also recently commented on FUTU. 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. JPMorgan Chase & Co. upped their price objective on Futu from $160.00 to $170.00 and gave the company an “overweight” rating in a report on Friday, March 14th. Finally, Citigroup cut Futu from a “buy” rating to a “neutral” rating and raised their target price for the stock from $79.00 to $95.00 in a report on Tuesday, November 19th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.20.

Futu Price Performance

Shares of NASDAQ:FUTU opened at $114.70 on Monday. The company has a 50 day moving average of $103.56 and a 200-day moving average of $92.34. Futu has a one year low of $51.80 and a one year high of $130.88. The stock has a market cap of $15.80 billion, a price-to-earnings ratio of 28.11, a P/E/G ratio of 0.79 and a beta of 0.78.

Institutional Trading of Futu

Hedge funds have recently added to or reduced their stakes in the business. Mackenzie Financial Corp increased its holdings in shares of Futu by 2.0% in the fourth quarter. Mackenzie Financial Corp now owns 4,475 shares of the company’s stock worth $358,000 after acquiring an additional 87 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Futu by 1.2% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,326 shares of the company’s stock worth $746,000 after purchasing an additional 113 shares in the last quarter. Rhumbline Advisers raised its holdings in Futu by 0.6% during the 4th quarter. Rhumbline Advisers now owns 23,023 shares of the company’s stock worth $1,842,000 after buying an additional 144 shares during the period. Vestcor Inc lifted its stake in Futu by 19.2% in the fourth quarter. Vestcor Inc now owns 907 shares of the company’s stock valued at $73,000 after buying an additional 146 shares in the last quarter. Finally, Voya Investment Management LLC boosted its holdings in shares of Futu by 1.6% in the fourth quarter. Voya Investment Management LLC now owns 9,549 shares of the company’s stock valued at $764,000 after buying an additional 153 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.