Futu Holdings Ltd ADR [NASDAQ: FUTU] closed the trading session at $56.40. The company report on March 14, 2024 at 5:33 AM that Moomoo’s Parent Company Futu Holdings Reports US$303.8 M and US$1.281 B in Revenues for Q4 and for Full Year 2023.
Moomoo’s parent company Futu Holdings Ltd. (“Futu” or “the Company”), a leading tech-driven online brokerage and wealth management platform, announced its unaudited Q4 2023 earnings with US$303.8 million in revenues, up 4.1% year-over-year (“YoY”) and US$121.7 million in non-GAAP adjusted net income.
For the year ended December 31, 2023, the Company recorded US$1.281 billion in revenues and US$585.1 million in non-GAAP adjusted net income, representing a YoY increase of 31.4% and 45.9%, respectively.
The stocks have a year to date performance of 3.24 percent and weekly performance of 0.41 percent. The stock has been moved at -4.21 percent over the last six months. The stock has performed 17.55 percent around the most recent 30 days and changed 6.52 percent over the most recent 3-months.
If compared to the average trading volume of 1.54M shares, FUTU reached to a volume of 7053929 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Futu Holdings Ltd ADR [FUTU]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FUTU shares is $67.95 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FUTU stock is a recommendation set at 1.22. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
JP Morgan have made an estimate for Futu Holdings Ltd ADR shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 17, 2024. The new note on the price target was released on January 05, 2024, representing the official price target for Futu Holdings Ltd ADR stock. Previously, the target price had yet another raise from $40 to $50, while Morgan Stanley kept a Equal-Weight rating on FUTU stock.
The Average True Range (ATR) for Futu Holdings Ltd ADR is set at 2.88, with the Price to Sales ratio for FUTU stock in the period of the last 12 months amounting to 4.06. The Price to Book ratio for the last quarter was 2.62, with the Price to Cash per share for the same quarter was set at 72.91.
FUTU stock trade performance evaluation
Futu Holdings Ltd ADR [FUTU] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.41. With this latest performance, FUTU shares gained by 17.55% in over the last four-week period, additionally sinking by -4.21% over the last 6 months – not to mention a rise of 20.20% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FUTU stock in for the last two-week period is set at 53.71, with the RSI for the last a single of trading hit 50.10, and the three-weeks RSI is set at 54.64 for Futu Holdings Ltd ADR [FUTU]. The present Moving Average for the last 50 days of trading for this stock 50.86, while it was recorded at 60.50 for the last single week of trading, and 52.25 for the last 200 days.
Earnings per share (EPS) analysis for Futu Holdings Ltd ADR [FUTU] stock
With the latest financial reports released by the company, Futu Holdings Ltd ADR posted 0.94/share EPS, while the average EPS was predicted by analysts to be reported at 0.7/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 34.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FUTU. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Futu Holdings Ltd ADR go to 1.57%.
Futu Holdings Ltd ADR [FUTU]: Institutional Ownership
The top three institutional holders of FUTU stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in FUTU stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in FUTU stock with ownership which is approximately 5.8325%.
