Futu (NASDAQ:FUTU) Announces Quarterly Earnings Results

Futu (NASDAQ:FUTU) announced its quarterly earnings results on Thursday. The company reported $1.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $13.30 by ($11.58), Zacks reports. Futu had a net margin of 38.59% and a return on equity of 16.86%.

Futu Trading Up 1.3 %

Shares of NASDAQ FUTU opened at $111.73 on Thursday. Futu has a 12-month low of $51.80 and a 12-month high of $130.88. The firm has a market capitalization of $15.40 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 0.79 and a beta of 0.78. The firm has a 50 day moving average of $100.07 and a 200 day moving average of $90.48.

Wall Street Analysts Forecast Growth

FUTU has been the topic of several research reports. Morgan Stanley upgraded shares of Futu from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $70.00 to $115.00 in a report on Monday, November 18th. Citigroup downgraded Futu from a “buy” rating to a “neutral” rating and raised their price target for the stock from $79.00 to $95.00 in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $91.40.

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.