Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $123.13, but opened at $127.72. Futu shares last traded at $130.88, with a volume of 1,040,301 shares traded.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the company. Bank of America lifted their target price on Futu from $123.70 to $143.90 and gave the stock a "buy" rating in a research report on Wednesday, June 11th. JPMorgan Chase & Co. lifted their target price on Futu from $160.00 to $170.00 and gave the stock an "overweight" rating in a research report on Friday, March 14th. Finally, UBS Group lifted their target price on Futu from $130.00 to $136.00 and gave the stock a "buy" rating in a research report on Monday, March 17th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $131.98.
Check Out Our Latest Stock Report on FUTU
Futu Stock Up 9.1%
The stock has a market cap of $19.81 billion, a PE ratio of 23.73, a price-to-earnings-growth ratio of 1.03 and a beta of 0.60. The firm has a 50 day moving average price of $112.76 and a 200 day moving average price of $101.99.
Futu (NASDAQ:FUTU - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.95 by $0.01. Futu had a return on equity of 23.07% and a net margin of 41.74%. The firm had revenue of $603.43 million for the quarter, compared to analyst estimates of $594.86 million. Equities analysts forecast that Futu Holdings Limited Sponsored ADR will post 4.94 earnings per share for the current year.
Hedge Funds Weigh In On Futu
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Atlas Capital Advisors Inc. acquired a new stake in Futu in the first quarter worth about $26,000. Geneos Wealth Management Inc. acquired a new position in Futu in the first quarter valued at approximately $27,000. Allianz SE acquired a new position in Futu in the first quarter valued at approximately $30,000. Smartleaf Asset Management LLC increased its position in shares of Futu by 1,245.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 444 shares of the company's stock valued at $36,000 after buying an additional 411 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Futu by 77.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 452 shares of the company's stock valued at $36,000 after buying an additional 197 shares in the last quarter.
Futu Company Profile
(
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.
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