Futu (NASDAQ:FUTU) Posts Earnings Results

Futu (NASDAQ:FUTU) issued its quarterly earnings data on Thursday. The company reported $3.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.98 by $0.35, FiscalAI reports. Futu had a return on equity of 26.48% and a net margin of 41.87%.The company had revenue of $852.66 million during the quarter, compared to analysts’ expectations of $786.07 million.

Futu Stock Performance

NASDAQ FUTU opened at $109.42 on Thursday. The stock has a market capitalization of $15.34 billion, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 1.26 and a beta of 0.43. Futu has a 52 week low of $80.50 and a 52 week high of $202.53. The stock has a fifty day moving average of $100.75 and a 200-day moving average of $126.58.

Wall Street Analyst Weigh In

A number of equities analysts have commented on FUTU shares. Jefferies Financial Group reissued a “buy” rating and issued a $170.50 price objective on shares of Futu in a research note on Thursday, May 28th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $87.00 target price (down from $300.00) on shares of Futu in a research note on Friday, May 22nd. Zacks Research raised Futu from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. The Goldman Sachs Group downgraded shares of Futu from a “buy” rating to a “neutral” rating and set a $102.13 price target on the stock. in a research report on Monday, May 25th. Finally, Wall Street Zen cut shares of Futu from a “hold” rating to a “sell” rating in a research report on Saturday, May 30th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Futu has a consensus rating of “Hold” and an average price target of $158.27.

Hedge Funds Weigh In On Futu

Several hedge funds have recently added to or reduced their stakes in FUTU. Orion Porfolio Solutions LLC increased its position in Futu by 3.3% in the fourth quarter. Orion Porfolio Solutions LLC now owns 2,391 shares of the company’s stock worth $393,000 after purchasing an additional 77 shares during the period. Royal Bank of Canada grew its holdings in Futu by 3.1% during the 4th quarter. Royal Bank of Canada now owns 3,591 shares of the company’s stock worth $590,000 after acquiring an additional 108 shares during the period. State of Wyoming raised its position in shares of Futu by 9.6% during the 4th quarter. State of Wyoming now owns 1,260 shares of the company’s stock valued at $207,000 after acquiring an additional 110 shares during the last quarter. Cerity Partners LLC raised its position in shares of Futu by 4.6% during the 2nd quarter. Cerity Partners LLC now owns 2,729 shares of the company’s stock valued at $337,000 after acquiring an additional 120 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Futu by 53.5% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 419 shares of the company’s stock valued at $73,000 after purchasing an additional 146 shares during the period.

Futu Company Profile

Futu Holdings Ltd. is a technology-driven brokerage and wealth management company that provides online brokerage services, market data, and investment tools to retail and institutional clients. Headquartered in Hong Kong and listed on the NASDAQ under the ticker FUTU, the company operates digital trading platforms that combine order execution, real-time quotes, news, and research tools to serve active investors and wealth management customers.

The firm’s product suite includes brokerage access to equities, exchange-traded funds and derivatives across major markets, margin financing, initial public offering (IPO) subscription services, wealth management products and discretionary investment solutions.