Futu (NASDAQ:FUTU) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Futu (NASDAQ:FUTUFree Report) from a neutral rating to an overweight rating in a research report sent to investors on Tuesday morning, Marketbeat reports. They currently have $92.00 price objective on the stock, up from their prior price objective of $62.00.

FUTU has been the subject of several other research reports. Citigroup lowered their price target on shares of Futu from $76.90 to $75.30 and set a buy rating for the company in a research report on Friday, March 15th. CLSA raised shares of Futu from an underperform rating to an outperform rating and upped their price target for the company from $50.00 to $65.00 in a report on Monday, March 18th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $72.37.

Read Our Latest Stock Analysis on Futu

Futu Stock Down 2.2 %

FUTU opened at $74.69 on Tuesday. The firm’s fifty day moving average price is $64.72 and its 200 day moving average price is $56.93. Futu has a 12-month low of $35.91 and a 12-month high of $81.86.

Futu (NASDAQ:FUTUGet Free Report) last posted its quarterly earnings results on Tuesday, May 28th. The company reported $0.95 earnings per share (EPS) for the quarter. The firm had revenue of $331.27 million for the quarter. Futu had a net margin of 40.86% and a return on equity of 17.56%. During the same period in the prior year, the company earned $1.08 earnings per share. As a group, research analysts predict that Futu will post 4.52 EPS for the current year.

Institutional Trading of Futu

A number of hedge funds have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC lifted its position in shares of Futu by 6.5% in the first quarter. Sequoia Financial Advisors LLC now owns 4,387 shares of the company’s stock worth $238,000 after purchasing an additional 269 shares in the last quarter. Signaturefd LLC grew its holdings in Futu by 12.2% during the third quarter. Signaturefd LLC now owns 2,615 shares of the company’s stock valued at $151,000 after purchasing an additional 285 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in Futu by 8.6% during the first quarter. Daiwa Securities Group Inc. now owns 3,800 shares of the company’s stock valued at $206,000 after purchasing an additional 300 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of Futu by 3.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 11,123 shares of the company’s stock worth $602,000 after acquiring an additional 343 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Futu by 14.2% in the third quarter. PNC Financial Services Group Inc. now owns 2,971 shares of the company’s stock worth $172,000 after acquiring an additional 370 shares during the last quarter.

About Futu

(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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