Citigroup Issues Positive Forecast for Futu (NASDAQ:FUTU) Stock Price

Futu (NASDAQ:FUTU - Get Free Report) had its price objective boosted by investment analysts at Citigroup from $113.00 to $176.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Citigroup's price target points to a potential upside of 7.15% from the stock's current price.Hong Kong Financial Firm Futu Surges 33.12% Amid Stimulus HintsOther equities analysts have also recently issued reports about the stock. Bank of America raised their target price on shares of Futu from $123.70 to $143.90 and gave the company a "buy" rating in a research note on Wednesday, June 11th. Barclays assumed coverage on Futu in a research note on Thursday, July 17th. They set an "overweight" rating and a $176.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $152.82.Read Our Latest Analysis on FUTUFutu Stock PerformanceFutu Holdings NASDAQ: FUTU Stock: Is the Chinese Fintech Company a Buy?Shares of FUTU opened at $164.25 on Tuesday. The company has a market capitalization of $22.85 billion, a PE ratio of 27.38, a PEG ratio of 1.26 and a beta of 0.60. The company's 50 day moving average price is $119.49 and its 200 day moving average price is $105.46. Futu has a 52 week low of $51.80 and a 52 week high of $169.80. Futu (NASDAQ:FUTU - Get Free Report) last announced its earnings results on Thursday, May 29th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.95 by $0.01. The firm had revenue of $603.43 million during the quarter, compared to analysts' expectations of $594.86 million. Futu had a return on equity of 23.07% and a net margin of 41.74%. On average, equities analysts forecast that Futu will post 4.94 earnings per share for the current fiscal year. Institutional Investors Weigh In On FutuHedge funds and other institutional investors have recently modified their holdings of the stock. Atlas Capital Advisors Inc. bought a new position in Futu during the 1st quarter valued at $26,000. Geneos Wealth Management Inc. acquired a new position in Futu in the 1st quarter valued at approximately $27,000. Allianz SE acquired a new stake in Futu in the first quarter valued at approximately $30,000. SVB Wealth LLC acquired a new stake in Futu in the first quarter valued at approximately $40,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Futu by 77.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company's stock valued at $36,000 after purchasing an additional 197 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.Further ReadingFive stocks we like better than FutuQuiet Period Expirations Explained2 Chinese Stocks That Could Leave U.S. Tech in the DustHow to Calculate Inflation RateWhy Meta’s AI Titan Clusters Are a Game-Changer for BroadcomThe How And Why of Investing in Oil Stocks4 Major Stocks Raise 2025 Guidance, Analyst Targets RiseThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Futu Right Now?Before you consider Futu, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Futu wasn't on the list.While Futu currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here