Futu (NASDAQ:FUTU) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of Futu (NASDAQ:FUTU) from an equal weight rating to an overweight rating in a report published on Monday morning, MarketBeat reports. The brokerage currently has $115.00 target price on the stock, up from their prior target price of $70.00.

Separately, Bank of America raised their target price on shares of Futu from $80.20 to $90.00 and gave the company a “buy” rating in a research note on Friday, September 27th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Futu currently has an average rating of “Moderate Buy” and a consensus target price of $85.07.

Futu Price Performance

Shares of FUTU opened at $88.99 on Monday. The firm’s 50 day simple moving average is $91.81 and its 200 day simple moving average is $75.49. The company has a market capitalization of $12.26 billion, a P/E ratio of 22.99, a P/E/G ratio of 0.93 and a beta of 0.75. Futu has a 1-year low of $43.61 and a 1-year high of $130.50.

Futu (NASDAQ:FUTU) last announced its earnings results on Tuesday, August 20th. The company reported $1.11 earnings per share for the quarter. The business had revenue of $400.73 million for the quarter. Futu had a net margin of 39.27% and a return on equity of 16.77%. On average, equities analysts anticipate that Futu will post 4.75 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC grew its position in Futu by 181.5% during the third quarter. GAMMA Investing LLC now owns 594 shares of the company’s stock valued at $57,000 after acquiring an additional 383 shares during the last quarter. CWM LLC grew its position in Futu by 67.7% during the third quarter. CWM LLC now owns 743 shares of the company’s stock valued at $71,000 after acquiring an additional 300 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in Futu during the second quarter valued at approximately $50,000. UniSuper Management Pty Ltd grew its position in Futu by 100.0% during the first quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock valued at $43,000 after acquiring an additional 400 shares during the last quarter. Finally, Venturi Wealth Management LLC bought a new position in Futu during the third quarter valued at approximately $92,000.

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.