Futu Holdings Limited (NASDAQ:FUTU) Receives $87.33 Consensus Target Price from Analysts

Shares of Futu Holdings Limited (NASDAQ:FUTU) have received a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $87.33.

FUTU has been the subject of several recent research reports. Bank of America boosted their price target on Futu from $80.20 to $90.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Citigroup downgraded shares of Futu from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $79.00 to $95.00 in a report on Tuesday, November 19th. Finally, Morgan Stanley upgraded shares of Futu from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $70.00 to $115.00 in a report on Monday, November 18th.

Hedge Funds Weigh In On Futu

Several hedge funds have recently modified their holdings of the stock. APG Asset Management N.V. purchased a new stake in Futu during the 2nd quarter worth approximately $496,000. Valliance Asset Management Ltd acquired a new stake in shares of Futu during the third quarter worth $956,000. Sei Investments Co. grew its holdings in shares of Futu by 261.3% during the second quarter. Sei Investments Co. now owns 25,351 shares of the company’s stock valued at $1,663,000 after buying an additional 18,334 shares during the last quarter. Seven Eight Capital LP acquired a new position in shares of Futu in the 2nd quarter valued at $1,956,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in Futu by 14.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 117,561 shares of the company’s stock worth $11,245,000 after acquiring an additional 15,127 shares during the last quarter.

Futu Stock Down 3.5 %

Shares of NASDAQ:FUTU opened at $83.20 on Thursday. The firm has a 50 day moving average of $91.65 and a 200 day moving average of $77.11. The company has a market capitalization of $11.46 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 0.88 and a beta of 0.72. Futu has a 52 week low of $43.61 and a 52 week high of $130.50.

Futu Announces Dividend

The firm also recently declared a — dividend, which will be paid on Friday, January 10th. Shareholders of record on Friday, December 6th will be issued a $2.00 dividend. The ex-dividend date is Friday, December 6th.

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.