Futu (NASDAQ:FUTU) Price Target Raised to $90.00

by · The Markets Daily

Futu (NASDAQ:FUTU – Free Report) had its target price upped by Bank of America from $80.20 to $90.00 in a report issued on Friday, Benzinga reports. Bank of America currently has a buy rating on the stock.

Futu Stock Up 11.6 %

FUTU opened at $95.65 on Friday. The company has a market cap of $13.18 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 1.04 and a beta of 0.72. The firm’s fifty day simple moving average is $62.82 and its two-hundred day simple moving average is $64.88. Futu has a 52-week low of $43.61 and a 52-week high of $102.99.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in FUTU. Allspring Global Investments Holdings LLC acquired a new stake in Futu in the 2nd quarter valued at about $50,000. UniSuper Management Pty Ltd increased its holdings in shares of Futu by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock valued at $43,000 after purchasing an additional 400 shares during the last quarter. SG Americas Securities LLC purchased a new position in Futu during the second quarter worth approximately $123,000. Atlas Capital Advisors LLC acquired a new position in Futu during the second quarter worth $142,000. Finally, Barometer Capital Management Inc. purchased a new stake in Futu in the 4th quarter valued at $120,000.

Futu Company Profile

(Get Free Report)

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.

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