Futu (NASDAQ:FUTU) Reaches New 12-Month High - Here's Why

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

Analysts Set New Price Targets

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

Futu Stock Performance

The business's 50-day moving average price is $111.76 and its 200 day moving average price is $101.71. The company has a market cap of $19.81 billion, a P/E ratio of 23.73, a P/E/G ratio of 0.98 and a beta of 0.60.

Futu (NASDAQ:FUTU - Get Free Report) last issued its earnings results on Thursday, May 29th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.95 by $0.01. The company had revenue of $603.43 million for the quarter, compared to analysts' expectations of $594.86 million. Futu had a net margin of 41.74% and a return on equity of 23.07%. Equities research analysts forecast that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FUTU. Lifestyle Asset Management Inc. increased its holdings in shares of Futu by 2.1% during the second quarter. Lifestyle Asset Management Inc. now owns 3,971 shares of the company's stock worth $491,000 after purchasing an additional 83 shares during the period. Mackenzie Financial Corp increased its holdings in shares of Futu by 2.0% during the fourth quarter. Mackenzie Financial Corp now owns 4,475 shares of the company's stock worth $358,000 after purchasing an additional 87 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Futu by 1.2% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,326 shares of the company's stock worth $746,000 after acquiring an additional 113 shares in the last quarter. Vestcor Inc boosted its position in shares of Futu by 19.2% during the 4th quarter. Vestcor Inc now owns 907 shares of the company's stock worth $73,000 after acquiring an additional 146 shares in the last quarter. Finally, Voya Investment Management LLC boosted its position in shares of Futu by 1.6% during the 4th quarter. Voya Investment Management LLC now owns 9,549 shares of the company's stock worth $764,000 after acquiring an additional 153 shares in the last quarter.

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.