Futu (NASDAQ:FUTU) Stock Price Expected to Rise, UBS Group Analyst Says

Futu (NASDAQ:FUTU) had its price target boosted by UBS Group from $130.00 to $136.00 in a research note published on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

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

Futu Stock Performance

Shares of Futu stock opened at $114.70 on Monday. Futu has a 52-week low of $51.80 and a 52-week high of $130.88. The business’s 50 day simple moving average is $103.56 and its 200 day simple moving average is $92.34. The firm has a market cap of $15.80 billion, a PE ratio of 28.11, a P/E/G ratio of 0.79 and a beta of 0.78.

Institutional Trading of Futu

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