Futu Holdings Limited (NASDAQ:FUTU - Get Free Report) shares traded up 5.4% on Friday . The stock traded as high as $94.04 and last traded at $92.89. 2,477,990 shares changed hands during mid-day trading, an increase of 9% from the average session volume of 2,270,843 shares. The stock had previously closed at $88.14.
Wall Street Analysts Forecast Growth
Separately, Bank of America lifted their price target on shares of Futu from $80.20 to $90.00 and gave the stock a "buy" rating in a research note on Friday, September 27th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $72.97.
Read Our Latest Analysis on FUTU
Futu Stock Up 5.0 %
The stock has a market capitalization of $12.76 billion, a PE ratio of 24.52, a price-to-earnings-growth ratio of 1.65 and a beta of 0.74. The stock's 50 day moving average price is $78.96 and its 200-day moving average price is $70.91.
Futu (NASDAQ:FUTU - Get Free Report) last announced its quarterly earnings results on Tuesday, August 20th. The company reported $1.11 earnings per share (EPS) for the quarter. The firm had revenue of $400.73 million during the quarter. Futu had a return on equity of 16.77% and a net margin of 39.27%. As a group, sell-side analysts predict that Futu Holdings Limited will post 4.28 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in FUTU. Allspring Global Investments Holdings LLC raised its position in shares of Futu by 14.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 877 shares of the company's stock worth $84,000 after acquiring an additional 112 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Futu by 3.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 7,346 shares of the company's stock valued at $394,000 after buying an additional 230 shares in the last quarter. Signaturefd LLC grew its position in shares of Futu by 8.4% in the 2nd quarter. Signaturefd LLC now owns 3,205 shares of the company's stock worth $210,000 after buying an additional 247 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Futu by 6.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 4,387 shares of the company's stock worth $238,000 after acquiring an additional 269 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in Futu by 8.6% during the first quarter. Daiwa Securities Group Inc. now owns 3,800 shares of the company's stock valued at $206,000 after acquiring an additional 300 shares during the last quarter.
Futu Company Profile
(
Get Free Report)
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.
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