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

Futu Holdings Limited (NASDAQ:FUTU - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $89.71, but opened at $96.92. Futu shares last traded at $94.56, with a volume of 3,039,996 shares traded.

Analyst Ratings Changes

Separately, Bank of America upped their price target on shares of Futu from $80.20 to $90.00 and gave the company a "buy" rating in a report on Friday, September 27th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $72.97.

Futu Stock Performance

The company's 50 day moving average is $76.57 and its 200 day moving average is $69.96. The stock has a market capitalization of $12.85 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 1.65 and a beta of 0.74.

Futu (NASDAQ:FUTU - Get Free Report) last posted its quarterly earnings results on Tuesday, August 20th. The company reported $1.11 EPS for the quarter. Futu had a return on equity of 16.77% and a net margin of 39.27%. The firm had revenue of $400.73 million during the quarter. On average, equities research analysts anticipate that Futu Holdings Limited will post 4.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. UniSuper Management Pty Ltd raised its stake in shares of Futu by 100.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 800 shares of the company's stock valued at $43,000 after buying an additional 400 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in Futu in the second quarter worth about $50,000. GAMMA Investing LLC lifted its stake in Futu by 181.5% during the third quarter. GAMMA Investing LLC now owns 594 shares of the company's stock worth $57,000 after purchasing an additional 383 shares during the period. CWM LLC boosted its holdings in Futu by 67.7% during the third quarter. CWM LLC now owns 743 shares of the company's stock valued at $71,000 after purchasing an additional 300 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Futu in the 2nd quarter valued at approximately $123,000.

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.