Futu (NASDAQ:FUTU) Earns “Neutral” Rating from JPMorgan Chase & Co.

Futu (NASDAQ:FUTU)‘s stock had its “neutral” rating reissued by stock analysts at JPMorgan Chase & Co. in a research note issued on Friday, MarketBeat Ratings reports. They currently have a $87.00 price objective on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 3.24% from the stock’s previous close.

A number of other equities analysts also recently commented on FUTU. Weiss Ratings restated a “hold (c+)” rating on shares of Futu in a report on Thursday, January 22nd. Zacks Research cut shares of Futu from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 8th. Barclays dropped their price target on shares of Futu from $236.00 to $200.00 and set an “overweight” rating on the stock in a research note on Monday, March 16th. Finally, The Goldman Sachs Group set a $205.00 price target on shares of Futu in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $178.67.

Futu Stock Performance

Shares of NASDAQ FUTU traded down $33.94 during mid-day trading on Friday, reaching $89.92. The company had a trading volume of 34,399,132 shares, compared to its average volume of 1,974,407. The company has a market capitalization of $12.60 billion, a price-to-earnings ratio of 8.88, a PEG ratio of 0.87 and a beta of 0.52. The stock has a fifty day moving average of $146.73 and a two-hundred day moving average of $158.75. Futu has a 12-month low of $80.50 and a 12-month high of $202.53.

Futu (NASDAQ:FUTU) last announced its quarterly earnings data on Sunday, February 15th. The company reported $3.07 EPS for the quarter. Futu had a net margin of 49.63% and a return on equity of 32.24%. The firm had revenue of $771.00 million for the quarter. Sell-side analysts forecast that Futu will post 11.78 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Futu

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC acquired a new position in shares of Futu during the first quarter worth approximately $235,000. Jones Financial Companies Lllp increased its holdings in shares of Futu by 442.4% in the first quarter. Jones Financial Companies Lllp now owns 640 shares of the company’s stock valued at $66,000 after purchasing an additional 522 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Futu by 3.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 459,175 shares of the company’s stock worth $46,997,000 after purchasing an additional 16,255 shares during the last quarter. Geneos Wealth Management Inc. acquired a new position in Futu during the 1st quarter worth $27,000. Finally, American Century Companies Inc. boosted its position in Futu by 9.2% in the 2nd quarter. American Century Companies Inc. now owns 9,905 shares of the company’s stock valued at $1,224,000 after buying an additional 836 shares during the last quarter.

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.