FUTU Stock Price: $90 Target By Bocom

By Amit Chowdhry ● January 20, 2021
  • Futu Holdings Ltd (NASDAQ: FUTU) has received a $90 price target by Bocom. These are the details.

Futu Holdings Ltd (NASDAQ: FUTU) has received a $90 price target by Bocom. Bocom had initiated a “Buy” rating on FUTU.

In late November, Futu Holdings had announced unaudited financial results for the third quarter ended September 30, 2020. The total number of paying clients increased 136.5% year-over-year to 418,089 and the total number of registered clients increased 79.7% year-over-year to 1,173,242. And the total number of users increased 52.2% year-over-year to 10.4 million. Plus total client assets increased 177.8% year-over-year to HK$200.9 billion.

The company’s total revenues increased 272.1% year-over-year to HK$946.2 million (US$122.1 million). And total gross profit increased 314.1% year-over-year to HK$764.1 million (US$98.6 million). The company’s net income was up 18 times year-over-year to HK$401.7 million (US$51.8 million).

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.