Futu (NASDAQ:FUTU) Shares Gap Up to $67.29

Shares of Futu Holdings Limited (NASDAQ:FUTU) gapped up before the market opened on Tuesday . The stock had previously closed at $67.29, but opened at $74.88. Futu shares last traded at $75.09, with a volume of 1,474,828 shares traded.

Analysts Set New Price Targets

FUTU has been the topic of a number of research analyst reports. Bank of America lifted their target price on Futu from $77.60 to $80.20 and gave the company a “buy” rating in a research report on Wednesday, August 21st. JPMorgan Chase & Co. upgraded shares of Futu from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $62.00 to $92.00 in a research report on Tuesday, May 28th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.57.

Futu Stock Performance

The firm has a market cap of $10.31 billion, a PE ratio of 19.87, a P/E/G ratio of 0.92 and a beta of 0.72. The stock’s fifty day moving average price is $60.92 and its 200-day moving average price is $64.10.

Futu (NASDAQ:FUTU) last released its quarterly earnings data on Tuesday, August 20th. The company reported $1.11 earnings per share 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%. Sell-side analysts forecast that Futu Holdings Limited will post 4.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Futu

Several hedge funds have recently bought and sold shares of FUTU. DekaBank Deutsche Girozentrale lifted its stake in shares of Futu by 3.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 7,346 shares of the company’s stock worth $394,000 after purchasing an additional 230 shares during the period. Signaturefd LLC lifted its position in Futu by 8.4% during the second quarter. Signaturefd LLC now owns 3,205 shares of the company’s stock worth $210,000 after buying an additional 247 shares during the period. Sequoia Financial Advisors LLC boosted its stake in Futu by 6.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 4,387 shares of the company’s stock worth $238,000 after buying an additional 269 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in Futu by 8.6% in the 1st quarter. Daiwa Securities Group Inc. now owns 3,800 shares of the company’s stock worth $206,000 after buying an additional 300 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its holdings in Futu by 3.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 11,123 shares of the company’s stock valued at $602,000 after buying an additional 343 shares during the period.

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.