Futu (NASDAQ:FUTU) Upgraded to Outperform by CLSA

Futu (NASDAQ:FUTUGet Free Report) was upgraded by stock analysts at CLSA from an “underperform” rating to an “outperform” rating in a research note issued on Monday, Briefing.com reports. The firm presently has a $65.00 price objective on the stock, up from their prior price objective of $50.00. CLSA’s target price indicates a potential upside of 19.82% from the company’s previous close.

A number of other analysts have also recently issued reports on the company. Jefferies Financial Group upped their target price on Futu from $64.80 to $71.50 and gave the company a “buy” rating in a research report on Friday, November 24th. UBS Group upgraded shares of Futu from a “neutral” rating to a “buy” rating and set a $67.00 price target for the company in a research report on Friday, January 5th. Morgan Stanley upgraded shares of Futu from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $40.00 to $50.00 in a research note on Thursday, January 4th. Finally, JPMorgan Chase & Co. downgraded shares of Futu from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $64.00 to $62.00 in a research note on Friday. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $61.91.

View Our Latest Stock Report on FUTU

Futu Stock Performance

Shares of NASDAQ FUTU opened at $54.25 on Monday. The stock’s 50-day simple moving average is $50.82 and its 200-day simple moving average is $54.95. The firm has a market capitalization of $8.16 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 0.72 and a beta of 0.80. Futu has a fifty-two week low of $35.91 and a fifty-two week high of $67.49.

Futu (NASDAQ:FUTUGet Free Report) last issued its earnings results on Thursday, March 14th. The company reported $0.81 earnings per share (EPS) for the quarter. Futu had a net margin of 43.99% and a return on equity of 19.60%. The business had revenue of $303.84 million during the quarter, compared to analysts’ expectations of $374.14 million. On average, sell-side analysts forecast that Futu will post 4.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FUTU. Hollencrest Capital Management acquired a new position in shares of Futu during the 1st quarter worth approximately $25,000. Financial Management Professionals Inc. purchased a new stake in shares of Futu in the third quarter valued at $30,000. Wells Fargo & Company MN grew its holdings in Futu by 102.4% in the 4th quarter. Wells Fargo & Company MN now owns 923 shares of the company’s stock valued at $38,000 after buying an additional 467 shares during the period. Headlands Technologies LLC acquired a new position in shares of Futu during the 4th quarter valued at about $44,000. Finally, Advisors Preferred LLC purchased a new position in shares of Futu during the 4th quarter worth about $53,000. 20.75% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Futu (NASDAQ:FUTU)

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