Futu Holdings Limited (NASDAQ: FUTU) stock fell -0.76% on Friday to $59.15 against a previous-day closing price of $59.60. With 0.7 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.17 million shares. During the session, the Capital Markets company that operates in wider Financial sector, reached to the highest price of $59.84 whereas the lowest price it dropped to was $58.33. The 52-week range on FUTU shows that it touched its highest point at $72.20 and its lowest point at $28.00 during that stretch. It currently has a 1-year price target of $63.57. Beta for the stock currently stands at 0.85.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of FUTU was up-trending over the past week, with a rise of 2.07%, but this was up by 20.37% over a month. Three-month performance surged to 39.08% while six-month performance rose 28.20%. The stock gained 30.09% in the past year, while it has gained 45.51% so far this year. A look at the trailing 12-month EPS for FUTU yields 3.65 with Next year EPS estimates of 4.17. For the next quarter, that number is 0.90. This implies an EPS growth rate of 10.40% for this year and 4.20% for next year. EPS is expected to grow by 1.57% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 110.80%.
Float and Shares Shorts:
At present, 138.76 million FUTU shares are outstanding with a float of 75.85 million shares on hand for trading. On Aug 30, 2023, short shares totaled 8.28 million, which was 5.93% higher than short shares on Jul 30, 2023. In addition to Mr. Hua Li as the firm’s Founder, Chairman & CEO, Mr. Yu Chen serves as its Chief Financial Officer.
Through their ownership of 39.59% of FUTU’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 4.95% of FUTU, in contrast to 22.25% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in FUTU with 4.91% of the stake, Morgan Stanley & Co. LLC holds 4,520,801 shares worth 4,520,801. A second-largest stockholder of FUTU, Goldman Sachs & Co. LLC, holds 3,208,924 shares, controlling over 3.49% of the firm’s shares. Greenwoods Investments SG Pte Ltd is the third largest shareholder in FUTU, holding 1,801,722 shares or 1.96% stake. With a 0.33% stake in FUTU, the iShares Tr. – Core MSCI EAFE ETF is the largest stakeholder. A total of 299,516 shares are owned by the mutual fund manager. The Harvest Global Internet Stock Fun, which owns about 0.22% of FUTU stock, is the second-largest Mutual Fund holder. It holds 205,000 shares valued at 12.22 million. iShares Tr. – MSCI EAFE ETF holds 0.20% of the stake in FUTU, owning 188,024 shares worth 11.21 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for FUTU since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With FUTU analysts setting a high price target of $674.66 and a low target of $266.32, the average target price over the next 12 months is $501.26. Based on these targets, FUTU could surge 1040.59% to reach the target high and rise by 350.25% to reach the target low. Reaching the average price target will result in a growth of 747.44% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.