Futu (NASDAQ:FUTU) PT Raised to $90.00

Futu (NASDAQ:FUTU) had its target price hoisted by investment analysts at Bank of America from $80.20 to $90.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price objective would suggest a potential upside of 5.04% from the stock’s current price.

Futu Stock Performance

FUTU opened at $85.68 on Friday. The firm’s fifty day moving average is $62.15 and its two-hundred day moving average is $64.61. The firm has a market cap of $11.81 billion, a PE ratio of 22.67, a price-to-earnings-growth ratio of 1.04 and a beta of 0.72. Futu has a twelve month low of $43.61 and a twelve month high of $85.99.

Futu (NASDAQ:FUTU) last posted its earnings results on Tuesday, August 20th. The company reported $1.11 earnings per share for the quarter. Futu had a return on equity of 16.77% and a net margin of 39.27%. The firm had revenue of $400.73 million for the quarter. Equities analysts forecast that Futu will post 4.51 EPS for the current fiscal year.

Institutional Trading of Futu

Hedge funds have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale grew its holdings in shares of Futu by 3.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 7,346 shares of the company’s stock worth $394,000 after buying an additional 230 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Futu by 8.4% in the second quarter. Signaturefd LLC now owns 3,205 shares of the company’s stock valued at $210,000 after purchasing an additional 247 shares during the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of Futu by 6.5% in the first quarter. Sequoia Financial Advisors LLC now owns 4,387 shares of the company’s stock worth $238,000 after purchasing an additional 269 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Futu by 8.6% during the first quarter. Daiwa Securities Group Inc. now owns 3,800 shares of the company’s stock worth $206,000 after purchasing an additional 300 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its position in Futu by 3.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 11,123 shares of the company’s stock valued at $602,000 after purchasing an additional 343 shares in the last quarter.

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.