Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU) has been given an average recommendation of “Moderate Buy” by the ten brokerages that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $162.8043.

FUTU has been the subject of a number of recent research reports. Zacks Research lowered Futu from a “hold” rating to a “strong sell” rating in a research note on Monday, June 8th. Jefferies Financial Group restated a “buy” rating and issued a $170.50 target price on shares of Futu in a research note on Thursday, May 28th. Wall Street Zen cut Futu from a “hold” rating to a “sell” rating in a research report on Saturday, May 30th. The Goldman Sachs Group downgraded Futu from a “buy” rating to a “neutral” rating and set a $102.13 price target for the company. in a report on Monday, May 25th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $87.00 price objective (down from $300.00) on shares of Futu in a research report on Friday, May 22nd.

Hedge Funds Weigh In On Futu

Several large investors have recently made changes to their positions in FUTU. Aspex Management HK Ltd boosted its holdings in Futu by 37.5% during the fourth quarter. Aspex Management HK Ltd now owns 3,371,597 shares of the company’s stock worth $553,650,000 after buying an additional 919,724 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Futu by 7.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,660,168 shares of the company’s stock valued at $288,720,000 after buying an additional 116,143 shares in the last quarter. State Street Corp raised its position in shares of Futu by 18.4% in the second quarter. State Street Corp now owns 1,212,481 shares of the company’s stock worth $149,851,000 after acquiring an additional 188,840 shares during the period. Greenwoods Asset Management Hong Kong Ltd. raised its position in shares of Futu by 14.0% in the fourth quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 1,135,821 shares of the company’s stock worth $186,513,000 after acquiring an additional 139,473 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Futu by 805.2% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,126,633 shares of the company’s stock worth $195,933,000 after acquiring an additional 1,002,171 shares during the period.

Futu News Roundup

Here are the key news stories impacting Futu this week:

• Negative Sentiment: Multiple firms reiterated that a securities fraud class action has been filed against Futu and are actively soliciting investors with losses to join the case or seek lead-plaintiff status before the August 25 deadline.
• Negative Sentiment: One notice specifically alleges the lawsuit involves concealed regulatory penalties, which could be interpreted by investors as a sign of heightened compliance and legal risk. Article: FUTU Shareholder Alert
• Neutral Sentiment: Another article from Zacks was a valuation comparison of Futu versus Orix, which is more informational than market-moving and does not appear to be the main driver of trading today. Article: IX vs. FUTU

Futu Price Performance

NASDAQ:FUTU opened at $99.36 on Monday. The company’s fifty day moving average price is $100.01 and its 200-day moving average price is $134.95. Futu has a 1-year low of $80.50 and a 1-year high of $202.53. The firm has a market capitalization of $13.93 billion, a P/E ratio of 10.93, a PEG ratio of 1.17 and a beta of 0.39.

Futu (NASDAQ:FUTU) last posted its earnings results on Thursday, May 28th. The company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.89 by ($2.12). The business had revenue of $694.17 million for the quarter, compared to analyst estimates of $761.35 million. Futu had a net margin of 41.87% and a return on equity of 26.48%. Equities analysts anticipate that Futu will post 8.95 EPS for the current fiscal year.

About Futu

Futu Holdings Ltd. is a technology-driven brokerage and wealth management company that provides online brokerage services, market data, and investment tools to retail and institutional clients. Headquartered in Hong Kong and listed on the NASDAQ under the ticker FUTU, the company operates digital trading platforms that combine order execution, real-time quotes, news, and research tools to serve active investors and wealth management customers.

The firm’s product suite includes brokerage access to equities, exchange-traded funds and derivatives across major markets, margin financing, initial public offering (IPO) subscription services, wealth management products and discretionary investment solutions.