Futu (NASDAQ:FUTU) Shares Gap Up - Should You Buy?

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.

Analyst Ratings Changes

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

Futu Stock Up 4.0%

The company has a 50 day moving average price of $113.76 and a 200-day moving average price of $102.39. The company has a market cap of $20.76 billion, a price-to-earnings ratio of 24.86, a P/E/G ratio of 1.13 and a beta of 0.60.

Futu (NASDAQ:FUTU - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The company reported $1.96 earnings per share (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 company had revenue of $603.43 million during the quarter, compared to the consensus estimate of $594.86 million. On average, analysts forecast that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Futu

A number of institutional investors and hedge funds have recently modified their holdings of FUTU. Hhlr Advisors LTD. raised its position in shares of Futu by 285.2% during the first quarter. Hhlr Advisors LTD. now owns 4,307,492 shares of the company's stock worth $440,872,000 after purchasing an additional 3,189,189 shares during the period. Arrowstreet Capital Limited Partnership purchased a new stake in Futu in the 4th quarter valued at $116,315,000. Trivest Advisors Ltd purchased a new stake in shares of Futu during the 1st quarter valued at $98,651,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Futu by 883.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 989,367 shares of the company's stock valued at $101,262,000 after purchasing an additional 888,760 shares during the last quarter. Finally, Yong Rong HK Asset Management Ltd purchased a new stake in shares of Futu during the 1st quarter valued at $77,172,000.

About Futu

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.