Futu (NASDAQ:FUTU) Shares Gap Up - Still a Buy?

Shares of Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Get Free Report) 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 changing hands.

Analyst Upgrades and Downgrades

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

Futu Stock Performance

The firm has a market cap of $19.90 billion, a P/E ratio of 23.83, a P/E/G ratio of 0.98 and a beta of 0.60. The business's 50-day simple moving average is $111.76 and its 200 day simple moving average is $101.71.

Futu (NASDAQ:FUTU - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $603.43 million during the quarter, compared to the consensus estimate of $594.86 million. Futu had a net margin of 41.74% and a return on equity of 23.07%. As a group, equities research analysts expect that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Norges Bank bought a new position in shares of Futu during the 4th quarter valued at about $39,163,000. GAM Holding AG raised its position in Futu by 41.7% in the 1st quarter. GAM Holding AG now owns 8,500 shares of the company's stock worth $870,000 after purchasing an additional 2,500 shares during the period. GF Fund Management CO. LTD. purchased a new stake in Futu in the 4th quarter worth about $11,482,000. Nomura Asset Management Co. Ltd. raised its position in Futu by 189.5% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 39,047 shares of the company's stock worth $3,123,000 after purchasing an additional 25,557 shares during the period. Finally, Northern Trust Corp raised its position in Futu by 89.8% in the 4th quarter. Northern Trust Corp now owns 348,413 shares of the company's stock worth $27,870,000 after purchasing an additional 164,892 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.