Stocks of Futu Holdings Limited (NASDAQ:FUTU) traded higher last session on Wall Street, up 1.12% to $60.68.
According to the data, Futu Holdings Limited (NASDAQ:FUTU) has 21 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $674.66 and a low of $266.32, we find $519.04. Given the previous closing price of $60.01, this indicates a potential upside of 764.92 percent. FUTU stock price is now 25.99% away from the 50-day moving average and 24.29% away from the 200-day moving average. The market capitalization of the company currently stands at $8.20B.
A total of 3 analysts have issued a hold rating and 15 have given it a buy rating. Brokers who have rated the stock have averaged $498.33 as their price target over the next twelve months.
A total of 16.41% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in FUTU stock. A new stake in Futu Holdings Limited shares was purchased by GREENWOODS ASSET MANAGEMENT HONG KONG LTD. during the first quarter worth $109,328,000. PRUDENTIAL PLC invested $16,527,000 in shares of FUTU during the first quarter. In the first quarter, ANGLEPOINT ASSET MANAGEMENT LTD acquired a new stake in Futu Holdings Limited valued at approximately $10,754,000. WORLDQUANT MILLENNIUM ADVISORS LLC acquired a new stake in FUTU for approximately $7,548,000. VOLORIDGE INVESTMENT MANAGEMENT, LLC purchased a new stake in FUTU valued at around $4,937,000 in the second quarter. In total, there are 344 active investors with 35.40% ownership of the company’s stock.
During the past 12 months, Futu Holdings Limited has had a low of $28.00 and a high of $72.20. As of last week, the company has a debt-to-equity ratio of 0.20, a current ratio of 1.30, and a quick ratio of 1.30. The fifty day moving average price for FUTU is $48.59 and a two-hundred day moving average price translates $48.92 for the stock.
The latest earnings results from Futu Holdings Limited (NASDAQ: FUTU) was released for Jun, 2023. According to the Capital Markets Company, earnings per share came in at $1.08, beating analysts’ expectations of $0.88 by 0.2. This compares to $0.57 EPS in the same period last year. The net profit margin was 43.70% and return on equity was 18.80% for FUTU. The company reported revenue of $317.1 million for the quarter, compared to $222.59 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 42.46 percent. For the current quarter, analysts expect FUTU to generate $277.31M in revenue.
Futu Holdings Limited(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. The company also provides financial information and online community services; online wealth management services under the brand of Money Plus through its Futubull and moomoo platforms, which give access to mutual funds, private funds, and bonds; market data and information services; and NiuNiu Community, which serves as an open forum for users and clients to share insights, ask questions, and exchange ideas. In addition, the company provides initial public offering subscription and employee share option plan solution services. Futu Holdings Limited was founded in 2007 and is based in Sheung Wan, Hong Kong.
