Futu (NASDAQ:FUTU) Releases Earnings Results, Misses Estimates By $2.76 EPS

Futu (NASDAQ:FUTU) released its quarterly earnings results on Tuesday. The company reported $4.14 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm earned $0.39 EPS.

FUTU stock opened at $54.45 on Thursday. The firm has a market capitalization of $7.91 billion, a P/E ratio of 23.07, a P/E/G ratio of 0.47 and a beta of 0.93. The business’s 50-day moving average is $72.24 and its two-hundred day moving average is $107.69. Futu has a 1 year low of $36.63 and a 1 year high of $204.25.

A hedge fund recently raised its stake in Futu stock. Wells Fargo & Company MN raised its stake in Futu Holdings Limited (NASDAQ:FUTU) by 15.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,536 shares of the company’s stock after purchasing an additional 1,001 shares during the period. Wells Fargo & Company MN’s holdings in Futu were worth $1,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 21.77% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have recently weighed in on FUTU. Zacks Investment Research upgraded Futu from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 2nd. BOCOM International cut Futu from a “buy” rating to a “neutral” rating in a report on Monday, November 1st. Morgan Stanley cut Futu from an “overweight” rating to an “equal weight” rating in a report on Friday, October 29th. CLSA initiated coverage on Futu in a report on Tuesday, October 19th. They set a “buy” rating and a $110.00 target price for the company. Finally, JPMorgan Chase & Co. initiated coverage on Futu in a report on Monday, October 18th. They set an “overweight” rating and a $114.00 target price for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Futu presently has a consensus rating of “Hold” and an average price target of $164.21.

About Futu

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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