Stocks with Buy Rank and Strong Momentum - mondaycom Ltd (MNDY) has a Zacks Rank 1 with a 159% increase in Zacks Consensus Estimate for current year earnings over the last 60 days The companys shares gained 141% over the last three months compared to the S&P 500s 63% gain and has a Momentum Score of A [1] - Futu Holdings Limited (FUTU) has a Zacks Rank 1 with a 67% increase in Zacks Consensus Estimate for current year earnings over the last 60 days The companys shares gained 366% over the last three months compared to the S&P 500s 63% gain and has a Momentum Score of A [2] - Vistra Corp (VST) has a Zacks Rank 1 with a 55% increase in Zacks Consensus Estimate for current year earnings over the last 60 days The companys shares gained 826% over the last three months compared to the S&P 500s 63% gain and has a Momentum Score of B [3]

Core View - Futu Holdings Limited Sponsored ADR (FUTU) is considered a superior value option compared to Braze, Inc (BRZE) based on valuation metrics [7] Stock Comparison - Both FUTU and BRZE currently hold a Zacks Rank of 2 (Buy), indicating positive earnings estimate revisions for both companies [3] - FUTU has a forward P/E ratio of 17.51, significantly lower than BRZE's 595.54 [5] - FUTU's PEG ratio of 0.86 is substantially more favorable than BRZE's 19.85 [5] - FUTU's P/B ratio of 3.17 is more attractive compared to BRZE's 8.76 [6] Valuation Metrics - The Value category evaluates companies using multiple metrics including P/E ratio, P/S ratio, earnings yield, and cash flow per share [4] - FUTU earns a Value grade of B, while BRZE receives a Value grade of F based on these metrics [6] Investment Strategy - The optimal approach for identifying value opportunities combines a strong Zacks Rank with a high grade in the Value category of the Style Scores system [2]

Business Services Group Overview - The Business Services group includes 304 companies and is currently ranked 4 in the Zacks Sector Rank [2] - The Zacks Sector Rank measures the strength of 16 sector groups based on the average Zacks Rank of individual stocks within the groups [2] Futu Holdings Limited Sponsored ADR (FUTU) Performance - FUTU is currently ranked 1 (Strong Buy) in the Zacks Rank, indicating potential for outperformance over the next 1-3 months [3] - The Zacks Consensus Estimate for FUTU's full-year earnings has increased by 252.2% over the past three months, reflecting improved analyst sentiment [4] - FUTU has gained approximately 55% year-to-date, outperforming the Business Services group average of 23.2% [4] - FUTU belongs to the Technology Services industry, which has gained an average of 32.1% year-to-date, further highlighting FUTU's strong performance [6] Willdan Group (WLDN) Performance - WLDN has outperformed the Business Services sector with a year-to-date return of 94.3% [5] - The consensus EPS estimate for WLDN has increased by 11.7% over the past three months, and the stock currently holds a Zacks Rank 2 (Buy) [5] - WLDN belongs to the Business - Services industry, which has declined by 4.7% year-to-date, making WLDN's performance particularly notable [6] Industry and Sector Insights - The Technology Services industry, which includes 162 companies, is currently ranked 67 in the Zacks Industry Rank [6] - The Business - Services industry, which includes 24 companies, is currently ranked 82 in the Zacks Industry Rank [6] Investment Outlook - Investors should continue to monitor FUTU and WLDN as they have demonstrated strong performance and potential for continued outperformance in the Business Services sector [7]

Investment Rating - The report does not explicitly mention an investment rating for Futu Holdings (FUTU) [2] Core Views - Futu Holdings continues to demonstrate strong growth through product innovation and market expansion, particularly in Southeast Asia [2] - The company achieved a 30% YoY increase in total revenue to HKD 3.4 billion in Q3 2024, driven by growth across all business segments [2] - FUTU's customer base and assets under management continue to expand rapidly, with total paying clients reaching 2.2 million, a 33% YoY increase [2][5] Financial Performance Revenue Breakdown - Brokerage commission and handling fee revenue grew 52% YoY to HKD 1.5 billion, despite a decrease in commission rates from 9.3 bps to 8.0 bps [2] - Interest income increased 13% YoY to HKD 1.7 billion, driven by margin financing and securities lending businesses [2] - Other income (including wealth management and corporate services) surged 52% YoY to HKD 209 million [2] Cost Structure - Total costs increased 43% YoY to HKD 625 million, primarily driven by higher interest expenses (up 43% YoY) and processing/service costs (up 51% YoY) [2] Profitability - Gross profit grew 27% YoY to HKD 2.8 billion, with a gross margin of 81.8% [2] - Operating profit increased 31% YoY to HKD 1.7 billion, with an operating margin of 50.4% [2] - Net profit rose 21% YoY to HKD 1.3 billion, with a net profit margin of 38.4% [2] Customer Growth and Market Performance - FUTU added 154,000 net new paying clients in Q3 2024, a 138% YoY increase [2] - Total client assets grew 48% YoY to HKD 693 billion, driven by stock appreciation and net asset inflows [5] - Hong Kong and Singapore markets contributed over one-third of new paying clients, while Malaysia remained the largest contributor for three consecutive quarters [4] Trading Volume and Market Activity - Total trading volume increased 17% QoQ to HKD 1.9 trillion [6] - US stock trading volume grew 23% QoQ to HKD 1.53 trillion, driven by increased interest in tech stocks and leveraged ETFs [6] - Hong Kong stock trading volume declined 3% QoQ to HKD 348 billion, despite a 267% weekly surge in late September [6] Product Innovation and Expansion - Launched US stock dividend reinvestment plan in Hong Kong [7] - Introduced NISA savings accounts and mutual funds in Japan, along with US stock margin trading and Japanese options [7] - Became the first broker in Malaysia to offer US stock options trading and launched MYR/USD-denominated money market funds [7] Capital Allocation - The board approved a special cash dividend of USD 0.25 per ordinary share or USD 2.00 per ADS, totaling approximately HKD 195 million [8] Financial Forecasts - Operating revenue is projected to grow from HKD 12.62 billion in 2024 to HKD 16.42 billion in 2026 [9] - Net profit is expected to increase from HKD 5.10 billion in 2024 to HKD 7.45 billion in 2026 [9] - EPS is forecasted to rise from HKD 4.59 in 2024 to HKD 6.78 in 2026 [9]

Investment Rating - The report maintains a "Buy" rating for the company, with a target price raised from $90 to $108, indicating a potential upside of 24.6% from the current price of $86.70 [3][4][12]. Core Insights - The company's earnings for Q3 2024 met market expectations, with a net profit of HKD 1.32 billion, reflecting a year-on-year growth of 21% and a quarter-on-quarter growth of 9%. Revenue increased by 30% year-on-year and 10% quarter-on-quarter, primarily driven by brokerage commission income [1][2]. - The brokerage commission income saw significant growth, with trading volume increasing by 75% year-on-year and 17% quarter-on-quarter, reaching the highest level since Q2 2021. The proportion of US stock trading volume rose to 80.5% [1][2]. - The company plans to distribute a special dividend of $2 per ADS, totaling $280 million, which represents 61% of the net profit attributable to shareholders for the first three quarters [2]. Financial Performance Summary - For the fiscal year ending December 31, 2024, the company is projected to achieve revenues of HKD 12.325 billion, a net profit of HKD 4.945 billion, and an EPS of HKD 35.57, reflecting a year-on-year growth of 15.6% [7][9][15]. - The average customer acquisition cost decreased by 6.7% quarter-on-quarter to HKD 2,037, while the customer asset scale approached HKD 700 billion, marking a year-on-year increase of 48% [2][8]. - Wealth management assets grew by 88% year-on-year to HKD 97.3 billion, with 27% of paying users holding wealth management products, up 2 percentage points from the previous quarter [2][8].

Investment Rating - The report does not explicitly state an investment rating for Futu Holdings (FUTU) [2] Core Views - Futu Holdings reported Q3 2024 revenue of HKD 34.4 billion, exceeding Bloomberg consensus expectations of HKD 33.3 billion, with a year-over-year (yoy) increase of 30% and quarter-over-quarter (qoq) increase of 10% [2] - Net profit for Q3 2024 was HKD 13.2 billion, up 21% yoy and 9% qoq, while Non-GAAP net profit was HKD 14 billion, also up 21% yoy and 8% qoq [2] - The company announced a special cash dividend of USD 0.25 per share or USD 2 per ADS, totaling approximately USD 280 million [2] - Trading volume growth, particularly in US stocks, drove commission income, with US stock trading volume accounting for 80% of total trading volume [2] - Interest income increased by 13% yoy and 7% qoq, driven by higher average margin financing balances and increased idle fund interest income [2] - Other income surged 52% yoy and 29% qoq, primarily due to increased fund distribution and foreign exchange income [2] - Cost control was effective, with a gross margin of 81.8%, though net profit margin declined due to foreign exchange losses [2] - Overseas markets contributed significantly, with net inflows exceeding HKD 10 billion for three consecutive quarters [2] - The company's wealth management business saw total assets under management (AUM) grow to HKD 973 billion, up 88% yoy and 22% qoq [2] Key Metrics and Performance Revenue and Profit - Q3 2024 revenue: HKD 34.4 billion, yoy +30%, qoq +10% [2] - Net profit: HKD 13.2 billion, yoy +21%, qoq +9% [2] - Non-GAAP net profit: HKD 14 billion, yoy +21%, qoq +8% [2] Trading and Commission Income - Brokerage commission income: HKD 15.3 billion, yoy +52%, qoq +11% [2] - Total trading volume: HKD 1.9 trillion, yoy +75%, qoq +17% [2] - US stock trading volume: HKD 1.5 trillion, yoy +90%, qoq +23%, accounting for 80% of total trading volume [2] - Mixed commission rate: 8bps, yoy -1.2bps, qoq -0.5bps [2] Interest and Other Income - Interest income: HKD 17 billion, yoy +13%, qoq +7% [2] - Other income: HKD 2.1 billion, yoy +52%, qoq +29% [2] Cost and Expense Management - Gross margin: 81.8%, yoy -1.7pct, qoq +0.2pct [2] - R&D expenses: HKD 3.8 billion, yoy +7%, qoq +3% [2] - Sales expenses: HKD 3.1 billion, yoy +49%, qoq -7% [2] - Management expenses: HKD 3.8 billion, yoy +18%, qoq +5% [2] - Operating profit: HKD 17.3 billion, yoy +31%, qoq +17% [2] - Net profit margin: 38.4%, yoy -2.8pct [2] Client and Asset Growth - Net new funded clients: 154,000, yoy +138%, qoq flat [2] - Total funded clients: 2.2 million, yoy +33%, qoq +8% [2] - Client retention rate: over 98% [2] - Total client assets: HKD 6.934 trillion, yoy +48%, qoq +20% [2] - Wealth management AUM: HKD 973 billion, yoy +88%, qoq +22%, accounting for 14% of total client assets [2] Overseas Market Performance - Overseas markets contributed over HKD 10 billion in net inflows for three consecutive quarters [2] - Singapore client assets: qoq +18% [2] - Malaysia and Canada client assets: high double-digit qoq growth [2] Investment Recommendation - The company is expected to benefit from the resonance of Hong Kong and US stock market beta, with strong momentum in net inflows, trading volume, and turnover rates likely to continue in Q4 [2] - Expansion in Malaysia and Japan, along with the enrichment of overseas market product offerings, is expected to open new growth opportunities [2] - Based on Bloomberg consensus, the company's 2024/2025 PE ratios are 18X and 14X, respectively, indicating significant room for improvement compared to overseas peers [2]

Investment Rating - Buy (Maintained) [1] Core Viewpoints - Futu Holdings' 2024 Q3 performance continued its growth trend, with a significant increase in revenue and net profit [1] - The company announced its first special dividend, reflecting its commitment to shareholder returns [1] - Futu's user base and registered clients grew substantially, with strong contributions from overseas markets [1] - The company's revenue and net profit forecasts for 2024-2026 have been revised upwards, indicating positive growth prospects [1] Revenue and Profit Analysis - 2024 Q1-Q3 revenue increased by 19.9% YoY to HKD 9.158 billion, with Q3 revenue up 29.6% YoY to HKD 3.436 billion [1] - 2024 Q1-Q3 net profit attributable to the parent company rose by 4.7% YoY to HKD 3.564 billion, with Q3 net profit up 20.3% YoY to HKD 1.313 billion [1] - Brokerage commissions increased by 31% YoY in 2024 Q1-Q3 to HKD 4 billion, with Q3 commissions up 52% YoY to HKD 1.5 billion [1] - Interest income grew by 10% YoY in 2024 Q1-Q3 to HKD 4.6 billion, with Q3 interest income up 13% YoY to HKD 1.3 billion [1] - Other income increased by 35% YoY in 2024 Q1-Q3 to HKD 530 million, with Q3 other income up 52% YoY to HKD 210 million [1] Cost and Expense Analysis - 2024 Q1-Q3 operating expenses rose by 51% YoY to HKD 1.7 billion, with Q3 expenses up 43% YoY to HKD 630 million [1] - R&D expenses increased by 2% YoY in 2024 Q1-Q3 to HKD 1.09 billion, with Q3 R&D expenses up 7% YoY to HKD 390 million [1] - Sales expenses grew by 79% YoY in 2024 Q1-Q3 to HKD 950 million, with Q3 sales expenses up 48% YoY to HKD 380 million [1] - Administrative expenses increased by 11% YoY in 2024 Q1-Q3 to HKD 1.04 billion, with Q3 administrative expenses up 18% YoY to HKD 310 million [1] User Growth and Market Expansion - Futu's platform users, registered clients, and funded clients increased by 14%, 23%, and 33% YoY respectively in 2024 Q3 [1] - The company added 154,000 new funded clients in Q3, a 138% YoY increase, with significant contributions from Hong Kong and Singapore markets [1] - Overseas markets, including Japan, Canada, Malaysia, and Australia, saw double-digit growth in funded clients in Q3 [1] Special Dividend and Shareholder Returns - Futu announced a special cash dividend of USD 0.25 per ordinary share or USD 2 per ADS, totaling approximately USD 280 million [1] - The dividend represents 8% of the company's equity capital at the end of Q3, with no expected hindrance to future growth [1] Financial Forecasts and Valuation - 2024-2026 net profit forecasts have been revised upwards to HKD 5.03 billion, HKD 5.62 billion, and HKD 6.543 billion respectively [1] - The current market valuation corresponds to 2024-2026 PE ratios of 18.50x, 16.56x, and 14.22x [1] - The company's long-term growth potential is considered substantial, supported by its expansion into overseas markets and user base growth [1]

Financial Data and Key Metrics - Total revenue increased by 30% year-over-year to HK$3.4 billion, driven by growth in brokerage commission, interest income, and other income [16] - Brokerage commission and handling charge income rose by 52% year-over-year to HK$1.5 billion, supported by a 75% increase in total trading volume [17] - Interest income grew by 13% year-over-year to HK$1.7 billion, primarily due to higher margin financing income and bank deposit interest income [18] - Net income increased by 21% year-over-year to HK$1.3 billion, with a net income margin of 38.4%, down from 41.2% in the same quarter last year due to unrealized foreign exchange losses [26] Business Line Performance - Total paying clients reached approximately 2.2 million, up 33% year-over-year, with 154,000 net new paying clients added in Q3 [6] - Wealth management client assets grew by 87% year-over-year and 22% quarter-over-quarter to HK$97 billion, with 27% of paying clients holding wealth management products [12] - IPO distribution and IR clients increased by 17.9% year-over-year to 461, with the company underwriting the three largest Hong Kong IPOs in the first three quarters of 2024 [13] Market Performance - Hong Kong and Singapore collectively contributed over one-third of new paying clients, with Malaysia remaining the top contributor among southern markets [7] - Total client assets grew by 48% year-over-year and 20% quarter-over-quarter to HK$693 billion, driven by strong net asset inflows and market appreciation, particularly in China equities [10] - U.S. stock trading volume grew by 23% quarter-over-quarter to HK$1.53 trillion, fueled by heightened volatility and interest in technology stocks and leveraged ETFs [11] Strategic Direction and Industry Competition - The company continues to iterate on client acquisition strategies and expand product offerings, including U.S. stock Dividend Reinvestment Plan in Hong Kong, NISA savings accounts in Japan, and U.S. options trading in Malaysia [9] - The company is committed to enhancing its brand image in Malaysia and broadening product offerings to strengthen its value proposition as a one-stop investment platform [7] Management Commentary on Operating Environment and Future Outlook - Management highlighted resilient growth in established markets and strong momentum in newer markets, expecting full-year client growth to exceed guidance [6] - The company remains optimistic about the sustainability of net asset inflows from overseas markets, particularly Hong Kong and Singapore [51] Other Important Information - The company announced a special cash dividend of US$0.25 per ordinary share or US$2 per ADS, totaling US$280 million, representing 7.8% of total net equity as of Q3 2024 [27] - The company is in the process of obtaining a VATP license in Hong Kong, with its crypto business already launched and showing meaningful growth in trading volumes [33] Q&A Session Summary Question: Hong Kong stock trading volume and ADR trading volume in Q4 - Hong Kong stock and ADR trading volumes surged in late September and early October, contributing over 50% of total trading volume at one point, but later pulled back due to market conditions [34] - U.S. stock trading volume has seen a meaningful sequential increase in Q4, driven by strong performance around the U.S. election [34] Question: Crypto business and VATP license update - The company's crypto business in Hong Kong has seen significant growth, with daily average trading volumes ranging between US$10 million to US$20 million [33] - The VATP license is still under review, with updates expected in the near future [33] Question: Special dividend and shareholder return plans - The special dividend is part of the company's commitment to shareholder value, with no negative implications expected for client acquisition or operations [42] - Future dividend policies will be revisited based on market conditions and business development [43] Question: Sales and marketing expense breakdown - Over 50% of sales and marketing expenses are salary-related and fixed, with the remainder being variable and dependent on client acquisition [44] - The company expects disciplined headcount growth and will provide more guidance in the next earnings call [44] Question: AUM breakdown and interest income sensitivity - Over half of client asset growth in Q3 came from market appreciation, particularly in China equities, with robust net asset inflows across markets [50] - Interest income is primarily driven by idle cash (40-45%) and margin financing, with no significant impact from U.S. rate cuts observed in Q3 [49] Question: Special dividend rationale and other costs - The company uses a combination of share buybacks and dividends to cater to different shareholder preferences, with no fixed preference for one over the other [57] - Other costs in Q3 were primarily due to unrealized foreign exchange losses, which are expected to reverse in Q4 [58] Question: Strategy in major markets and investor behavior - The company has tailored strategies for each market, focusing on unique product pipelines and client operations, leading to improved client quality and asset growth [63] - Investor behavior has been influenced by macro events, with increased trading activity in U.S. technology stocks and virtual assets around the U.S. election [62]

Exhibit 99.1 Futu Announces Third Quarter 2024 Unaudited Financial Results and Special Cash Dividend HONG KONG, November 19, 2024 (GLOBE NEWSWIRE) -- Futu Holdings Limited ("Futu" or the "Company") (Nasdaq: FUTU), a leading tech- driven online brokerage and wealth management platform, today announced its unaudited financial results for the third quarter ended September 30, 2024. Third Quarter 2024 Operational Highlights Third Quarter 2024 Financial Highlights Mr. Leaf Hua Li, Futu's Chairman and Chief Execu ...

Core Insights - Futu Holdings Ltd. reported Q3 2024 earnings with revenues of US$442.3 million, a 29.6% year-over-year increase, and non-GAAP adjusted net income of US$180 million, reflecting a 20.8% year-over-year growth [1] User Growth and Client Assets - The company achieved over 24.1 million global users and nearly 2.2 million paying clients by the end of Q3, marking a 14.4% and 33.1% year-over-year increase respectively [2] - Total client assets reached US$89.2 billion, showing a 19.7% quarter-over-quarter and 48.1% year-over-year increase [2] Trading Volume and Market Performance - Total trading volume across platforms increased to US$245 billion, up 17.4% quarter-over-quarter and 74.7% year-over-year [3] - US stock trading volume grew by 23% quarter-over-quarter and 90% year-over-year, with significant growth in Canada and Malaysia [4] Localization Strategy - The company implemented a localized market strategy, launching a Dividend Reinvestment Plan for US stocks in Australia and introducing fund products in Japan and Malaysia [6] - Paying clients grew across all seven markets, with notable increases in Japan, Canada, Malaysia, and Australia [7] Community Engagement and Financial Literacy - The company hosted MooFest in Singapore, Malaysia, and Japan, attracting nearly 10,000 investors to promote financial literacy [8] Expansion of Offerings - Moomoo expanded access to various exchanges in Malaysia and became the first licensed brokerage to offer US options trading in the country [9] - The company launched crypto trading services in Hong Kong and Singapore, receiving positive feedback [9] Wealth Management Growth - Total assets under management reached US$12.5 billion, with a record-breaking 22% quarter-over-quarter growth [10]