UBS Group Forecasts Strong Price Appreciation for Futu (NASDAQ:FUTU) Stock

Futu (NASDAQ:FUTU) had its price target increased by research analysts at UBS Group from $130.00 to $136.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s target price points to a potential upside of 15.23% from the stock’s current price.

FUTU has been the topic of several other reports. Morgan Stanley upgraded shares of Futu from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $70.00 to $115.00 in a report on Monday, November 18th. JPMorgan Chase & Co. increased their price objective on shares of Futu from $160.00 to $170.00 and gave the company an “overweight” rating in a report on Friday. Finally, Citigroup lowered shares of Futu from a “buy” rating to a “neutral” rating and increased their target price for the stock from $79.00 to $95.00 in a report on Tuesday, November 19th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $111.83.

Futu Stock Down 0.4 %

NASDAQ FUTU traded down $0.45 during trading hours on Monday, hitting $118.03. The company’s stock had a trading volume of 3,363,241 shares, compared to its average volume of 2,522,556. The stock has a fifty day moving average of $101.39 and a 200 day moving average of $91.43. Futu has a twelve month low of $51.80 and a twelve month high of $130.88. The firm has a market capitalization of $16.26 billion, a P/E ratio of 28.86, a PEG ratio of 0.79 and a beta of 0.78.

Institutional Investors Weigh In On Futu

Hedge funds have recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Futu during the fourth quarter worth $116,315,000. Point72 Hong Kong Ltd raised its holdings in shares of Futu by 170.6% during the fourth quarter. Point72 Hong Kong Ltd now owns 830,842 shares of the company’s stock worth $66,459,000 after acquiring an additional 523,808 shares during the period. Norges Bank acquired a new stake in shares of Futu during the fourth quarter worth $39,163,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Futu by 502.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 558,746 shares of the company’s stock worth $53,444,000 after acquiring an additional 465,961 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Futu during the third quarter worth $39,943,000.

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.