Futu (NASDAQ:FUTU) Stock Price Up 12.3% - Should You Buy?

Futu Holdings Limited Sponsored ADR (NASDAQ:FUTU - Get Free Report) shares rose 12.3% on Friday . The stock traded as high as $164.26 and last traded at $168.58. Approximately 1,556,765 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 2,985,046 shares. The stock had previously closed at $150.06.

Analysts Set New Price Targets

FUTU has been the topic of several research analyst reports. 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. Barclays initiated coverage on shares of Futu in a research report on Thursday. They issued an "overweight" rating and a $176.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $139.32.

Futu Price Performance

The firm has a market capitalization of $22.55 billion, a P/E ratio of 26.98, a price-to-earnings-growth ratio of 1.27 and a beta of 0.60. The business's 50-day moving average is $119.49 and its 200 day moving average is $105.46.

Futu (NASDAQ:FUTU - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported $1.96 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 business had revenue of $603.43 million for the quarter, compared to analyst estimates of $594.86 million. Analysts anticipate that Futu Holdings Limited Sponsored ADR will post 4.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Futu

A number of large investors have recently bought and sold shares of FUTU. Hhlr Advisors LTD. boosted its position in Futu by 285.2% during the 1st quarter. Hhlr Advisors LTD. now owns 4,307,492 shares of the company's stock worth $440,872,000 after buying an additional 3,189,189 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Futu in the 4th quarter worth approximately $116,315,000. Trivest Advisors Ltd acquired a new position 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 lifted 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 acquiring an additional 888,760 shares during the period. Finally, Yong Rong HK Asset Management Ltd acquired a new position in Futu during the first quarter worth $77,172,000.

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.