Futu (NASDAQ:FUTU) Price Target Raised to $55.00 at JPMorgan Chase & Co.

Futu (NASDAQ:FUTUGet Rating) had its target price increased by stock analysts at JPMorgan Chase & Co. from $50.00 to $55.00 in a research report issued to clients and investors on Tuesday, The Fly reports. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 25.86% from the stock’s previous close.

Several other analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Futu from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 25th. Citigroup lowered their target price on shares of Futu from $79.00 to $46.50 in a research note on Monday, March 14th. CLSA cut shares of Futu from an “underperform” rating to a “sell” rating and set a $27.00 target price on the stock. in a research note on Monday. Finally, TheStreet upgraded shares of Futu from a “d+” rating to a “c” rating in a research report on Monday, March 14th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $92.25.

Shares of FUTU stock opened at $43.70 on Tuesday. The stock has a market capitalization of $6.57 billion, a P/E ratio of 18.21, a PEG ratio of 2.95 and a beta of 0.82. The firm’s 50 day moving average is $33.20 and its 200 day moving average is $34.52. Futu has a 12 month low of $21.23 and a 12 month high of $181.44.

Futu (NASDAQ:FUTUGet Rating) last posted its earnings results on Friday, March 11th. The company reported $0.42 earnings per share (EPS) for the quarter. Futu had a net margin of 39.50% and a return on equity of 15.41%. The business had revenue of $205.50 million for the quarter. On average, sell-side analysts anticipate that Futu will post 1.75 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. bought a new position in shares of Futu during the 3rd quarter valued at $27,000. Quadrant Capital Group LLC grew its holdings in shares of Futu by 313.3% during the 4th quarter. Quadrant Capital Group LLC now owns 1,335 shares of the company’s stock valued at $58,000 after purchasing an additional 1,012 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Futu by 113.4% during the 4th quarter. Signaturefd LLC now owns 1,532 shares of the company’s stock valued at $66,000 after purchasing an additional 814 shares during the last quarter. Natixis grew its holdings in shares of Futu by 10.5% during the 3rd quarter. Natixis now owns 2,201 shares of the company’s stock valued at $200,000 after purchasing an additional 210 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of Futu during the 3rd quarter valued at $234,000. 23.33% of the stock is currently owned by institutional investors.

Futu Company Profile (Get Rating)

Futu Holdings Limited operates an online brokerage and wealth management platform in Hong Kong and internationally. The company provides trading, clearing, and settlement services; margin financing and securities lending services; and stock yield enhancement program. It also offers online wealth management services under the brand of Futu Money Plus through its Futubull and moomoo platforms, which give access to mutual funds, private funds, and bonds; market data and information services; and NiuNiu Community, which serves as an open forum for users and clients to share insights, ask questions, and exchange ideas.

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