Futu (NASDAQ:FUTU) Sets New 52-Week High - Should You Buy?

Shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $132.60 and last traded at $130.53, with a volume of 3590057 shares changing hands. The stock had previously closed at $123.13.

Analyst Upgrades and Downgrades

Several research firms have commented on FUTU. JPMorgan Chase & Co. increased their price target on shares of Futu from $160.00 to $170.00 and gave the company an "overweight" rating in a research report on Friday, March 14th. UBS Group increased their price objective on shares of Futu from $130.00 to $136.00 and gave the company a "buy" rating in a research report on Monday, March 17th. Finally, Bank of America increased their price objective on shares of Futu from $123.70 to $143.90 and gave the company a "buy" rating in a research report on Wednesday, June 11th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $131.98.

Futu Trading Up 0.8%

The stock has a market capitalization of $19.97 billion, a PE ratio of 23.92, a price-to-earnings-growth ratio of 1.13 and a beta of 0.60. The company's 50-day moving average is $113.76 and its 200 day moving average is $102.39.

Futu (NASDAQ:FUTU - Get Free Report) last posted its quarterly 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. Futu had a net margin of 41.74% and a return on equity of 23.07%. The company had revenue of $603.43 million during the quarter, compared to analyst estimates of $594.86 million. Sell-side analysts forecast that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Futu

Institutional investors have recently bought and sold shares of the business. Atlas Capital Advisors Inc. purchased a new position in Futu during the 1st quarter worth approximately $26,000. Geneos Wealth Management Inc. acquired a new stake in shares of Futu during the 1st quarter worth approximately $27,000. Allianz SE acquired a new stake in shares of Futu during the 1st quarter worth approximately $30,000. SVB Wealth LLC acquired a new stake in shares of Futu during the 1st quarter worth approximately $40,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of Futu by 1,245.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 444 shares of the company's stock worth $36,000 after purchasing an additional 411 shares during the period.

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.