Futu (NASDAQ:FUTU) Announces Earnings Results

Futu (NASDAQ:FUTU) posted its earnings results on Tuesday. The company reported $4.14 EPS for the quarter, missing the Zacks’ consensus estimate of $6.90 by ($2.76), Fidelity Earnings reports. Futu had a return on equity of 20.44% and a net margin of 44.47%. During the same period in the previous year, the company earned $0.39 EPS.

NASDAQ FUTU traded up $0.14 during mid-day trading on Thursday, hitting $54.45. The company’s stock had a trading volume of 5,213,877 shares, compared to its average volume of 7,591,552. Futu has a 52-week low of $36.63 and a 52-week high of $204.25. The stock’s fifty day simple moving average is $72.24 and its two-hundred day simple moving average is $107.69. The firm has a market capitalization of $7.91 billion, a P/E ratio of 23.07, a price-to-earnings-growth ratio of 0.47 and a beta of 0.93.

A number of analysts have commented on FUTU shares. BOCOM International downgraded Futu from a “buy” rating to a “neutral” rating in a research report on Monday, November 1st. Bank of America downgraded Futu from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $156.00 to $66.00 in a research report on Friday, October 15th. CLSA started coverage on Futu in a research report on Tuesday, October 19th. They set a “buy” rating and a $110.00 target price on the stock. Zacks Investment Research upgraded Futu from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 2nd. Finally, JPMorgan Chase & Co. initiated coverage on Futu in a research note on Monday, October 18th. They set an “overweight” rating and a $114.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Futu has an average rating of “Hold” and an average price target of $164.21.

An institutional investor recently raised its position in Futu stock. Wells Fargo & Company MN boosted its holdings in Futu Holdings Limited (NASDAQ:FUTU) by 15.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 7,536 shares of the company’s stock after buying an additional 1,001 shares during the period. Wells Fargo & Company MN’s holdings in Futu were worth $1,350,000 at the end of the most recent reporting period. 21.77% of the stock is owned by hedge funds and other institutional investors.

Futu Company Profile

Futu Holdings Ltd. is an advanced technology company, which engages in online brokerage and wealth management services. It provides investing services through its proprietary digital platforms, Futubull and moomoo that allows investors to trade securities and invest in fund products. The firm’s fee-generating services include trade execution, as well as margin financing and securities lending, which allow its clients to trade securities, such as stocks, ETFs, warrants, options and futures, across different markets.

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Earnings History for Futu (NASDAQ:FUTU)

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