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Futu Holdings Limited (NASDAQ: FUTU): A Business Review And Growth Forecast

In today’s recent session, 2.32 million shares of the Futu Holdings Limited (NASDAQ:FUTU) have been traded, and its beta is 0.80. Most recently the company’s share price was $38.54, and it changed around -$0.08 or -0.19% from the last close, which brings the market valuation of the company to $5.47B. FUTU at last check was trading at a discount to its 52-week high of $72.20, offering almost -87.34% off that amount. The share price’s 52-week low was $28.00, which indicates that the recent value has risen by an impressive 27.35% since then. We note from Futu Holdings Limited’s average daily trading volume that its 10-day average is 2.59 million shares, with the 3-month average coming to 2.06 million.

Futu Holdings Limited stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.00. If we narrow it down even further, the data shows that 1 out of 20 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 4 recommended FUTU as a Hold, whereas 12 deemed it a Buy, and 2 rated it as Underweight. Futu Holdings Limited is expected to report earnings per share of $0.82 for the current quarter.

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Futu Holdings Limited (NASDAQ:FUTU) trade information

Instantly FUTU has been showing red trend so far today with a performance of -0.19% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 40.89 on Tuesday, 05/23/23 increased the stock’s daily price by 5.75%. The company’s shares are currently down -5.18% year-to-date, but still down -6.94% over the last five days. On the other hand, Futu Holdings Limited (NASDAQ:FUTU) is -10.21% down in the 30-day period. We can see from the shorts that 8.46 million shares have been sold at a short interest cover period of 3.78 day(s).

The consensus price target as assigned by Wall Street analysts is $441.89, which translates to bulls needing to increase their stock price by 91.28% from its current value. Analyst projections state that FUTU is forecast to be at a low of $211.62 and a high of $580.89. In order for the stock price to hit the forecast high, the stock would need to plunge -1407.24% from its current level, while the stock would need to crash -449.09% from its current level to reach the projected low.

Futu Holdings Limited (FUTU) estimates and forecasts

Futu Holdings Limited share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -23.52 percent over the past six months and at a 12.64% annual growth rate that is well below the industry average of 18.80%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 86.40% in revenue this quarter, and will report an increase of 54.70% in the next quarter. The year-over-year growth rate is expected to be 11.40%, up from the previous year.

Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $257.02 million in revenue for the current quarter. 1 analysts expect Futu Holdings Limited to make $242.76 million in revenue for the quarter ending Jun 2023. The company’s sales for the same quarters a year ago were $209.13 million and $222.6 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 22.90%. Forecasts for the next quarter put sales growth at 9.10%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 110.80%. Futu Holdings Limited earnings are expected to increase by 10.40% in 2023, but the outlook is positive 1.57% per year for the next five years.

FUTU Dividends

Futu Holdings Limited’s next quarterly earnings report is expected to be released on May 24.

Futu Holdings Limited (NASDAQ:FUTU)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 16.41% of Futu Holdings Limited shares, and 35.41% of them are in the hands of institutional investors. The stock currently has a share float of 42.37%. Futu Holdings Limited stock is held by 328 institutions, with Morgan Stanley being the largest institutional investor. By Mar 30, 2023, it held 5.34% of the shares, which is about 4.89 million shares worth $186.84 million.

Aspex Management (HK) Ltd, with 4.93% or 4.52 million shares worth $172.58 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

Europacific Growth Fund and American Funds Insurance Ser-International Fund were the top two Mutual Funds as of Mar 30, 2023. The former held 2.06 million shares worth $78.74 million, making up 2.25% of all outstanding shares. On the other hand, American Funds Insurance Ser-International Fund held roughly 0.38 million shares worth around $14.35 million, which represents about 0.41% of the total shares outstanding.

On Key

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