Core Viewpoint - Futu Holdings Limited has been upgraded to a Zacks Rank 1 (Strong Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][2]. Earnings Outlook - The Zacks rating upgrade reflects an upward trend in earnings estimates, which is crucial for stock price movements [1][3]. - Futu Holdings is expected to earn $4.68 per share for the fiscal year ending December 2024, representing a year-over-year increase of 19.4% [5]. Earnings Estimate Revisions - Over the past three months, the Zacks Consensus Estimate for Futu Holdings has increased by 3.5%, indicating a positive revision trend [5]. - The correlation between earnings estimate revisions and near-term stock movements suggests that tracking these revisions can be beneficial for investment decisions [4]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with only the top 5% receiving a 'Strong Buy' rating, indicating superior earnings estimate revision features [6][7]. - Historically, Zacks Rank 1 stocks have generated an average annual return of +25% since 1988, showcasing the effectiveness of the rating system [4].

Core Viewpoint - Futu Holdings Limited (FUTU) has experienced a 7.8% decline in share price over the past week, but the formation of a hammer chart pattern suggests potential support and a possible trend reversal in the future [1] Technical Analysis - The hammer chart pattern indicates a potential bottoming out, with reduced selling pressure and a shift in control from bears to bulls [1] - The hammer pattern is characterized by a small candle body and a long lower wick, signaling a potential trend reversal when formed at the bottom of a downtrend [1] - Hammer candles can appear on various timeframes and should be used alongside other bullish indicators for confirmation [1] Fundamental Analysis - Recent upward revisions in earnings estimates for FUTU serve as a bullish indicator, correlating strongly with near-term stock price movements [1] - The consensus EPS estimate for the current year has increased by 3.5% over the last 30 days, indicating strong agreement among analysts regarding improved earnings potential [1] - FUTU holds a Zacks Rank of 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, which typically outperform the market [1] - The Zacks Rank is a reliable timing indicator for investors to identify improving company prospects [1]

Group 1 - Futu Holdings Limited has completed a HKD440 million investment in Gravitation Fintech HK Limited, becoming the second largest beneficial owner of Airstar Bank with an indirect ownership of 44.11% [1] - Futu is a tech-driven online brokerage and wealth management platform that offers fully digitalized financial services through its proprietary platforms, Futubull and moomoo [2] - The company provides a comprehensive range of investment services, including trade execution, margin financing, securities lending, and wealth management, while also incorporating social media tools to enhance user connectivity [2]

Group 1 - Futu Holdings Limited has completed a HKD440 million investment in Gravitation Fintech HK Limited, the parent company of Airstar Bank, a licensed virtual bank in Hong Kong [1] - Following this investment, Futu has become the second largest beneficial owner of Airstar Bank, holding indirectly 44.11% [1] Group 2 - Futu Holdings Limited is a technology company that offers fully digitalized financial services through its platforms, Futubull and moomoo [2] - The company provides a comprehensive range of investment services, including trade execution, margin financing, and wealth management, while also incorporating social media tools to enhance user connectivity [2] - Additionally, Futu offers corporate services such as IPO distribution, investor relations, and ESOP solution services [2]

Investors looking for stocks in the Technology Services sector might want to consider either Futu Holdings Limited Sponsored ADR (FUTU) or Elastic (ESTC) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The Zacks Rank is ...

Investment Rating - The report does not provide a specific investment rating for the company, but it suggests actively monitoring the stock due to positive market conditions and growth potential [2]. Core Views - The company reported a revenue of HKD 25.9 billion for Q1 2024, representing a year-over-year increase of 4% and a quarter-over-quarter increase of 9%. Net profit was HKD 10.4 billion, down 13% year-over-year but up 18% quarter-over-quarter [2]. - The brokerage commission income was HKD 10.8 billion, showing no year-over-year growth but a 20% increase quarter-over-quarter. Total trading volume reached HKD 13 trillion, up 10% year-over-year and 40% quarter-over-quarter [2]. - The company has raised its full-year guidance for net new funded clients to 400,000, up from an initial estimate of 350,000, due to strong customer acquisition in overseas markets [2]. Summary by Sections Financial Performance - Q1 2024 revenue was HKD 25.9 billion, with a year-over-year growth of 4% and a quarter-over-quarter growth of 9%. Net profit was HKD 10.4 billion, down 13% year-over-year but up 18% quarter-over-quarter. Non-GAAP net profit was HKD 11.2 billion, down 12% year-over-year and up 18% quarter-over-quarter [2]. - Brokerage commission income was HKD 10.8 billion, with a year-over-year growth of 0% and a quarter-over-quarter growth of 20%. Total trading volume was HKD 13 trillion, with a year-over-year growth of 10% and a quarter-over-quarter growth of 40% [2]. Customer Growth - The company added 177,000 new funded clients in Q1 2024, a quarter-over-quarter increase of 331% and a year-over-year increase of 199%. The total number of funded clients reached 1.89 million, with a year-over-year growth of 24% and a quarter-over-quarter growth of 10% [2]. - The total customer assets reached HKD 517.9 billion, with a year-over-year growth of 11% and a quarter-over-quarter growth of 7% [2]. Cost Management - The gross margin for Q1 2024 was 81.9%, down 6.5 percentage points year-over-year but up 0.2 percentage points quarter-over-quarter. Research and development expenses were HKD 340 million, with a rate of 13%, down 1 percentage point year-over-year [2]. - Sales expenses increased to HKD 290 million, with a rate of 11%, up 6 percentage points year-over-year, primarily due to the significant growth in new funded clients [2]. Market Outlook - The report indicates that the company is well-positioned to benefit from the rebound in Chinese assets and plans to launch higher-commission cryptocurrency trading services in Hong Kong and Singapore [2]. - The company is actively expanding its overseas market presence and diversifying its product offerings, which is expected to create new growth opportunities [2].

Torsten Asmus/iStock via Getty ImagesElevator Pitch Futu Holdings Limited (NASDAQ:FUTU) is assigned a Buy investment rating. I previewed Futu Holdings' financial results for the final quarter of the prior year in my February 22, 2024 article. This latest write-up analyzes FUTU's most recent financial disclosures. FUTU recorded above-expectations revenue and EPS for Q1 2024. The company's future looks bright, given that its new client net additions guidance for the current year was revised upwards by +14 ...

Futu Holdings Limited (NASDAQ:FUTU) Q1 2024 Earnings Call Transcript May 28, 2024 7:30 AM ET Company Participants Daniel Yuan - Chief of Staff to CEO and Head of IR Leaf Li - Chairman and CEO Arthur Chen - CFO Conference Call Participants Chiyao Huang - Morgan Stanley Katherine Lei - JPMorgan Operator Hello, ladies and gentlemen, welcome to Futu Holdings First Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. After management's prepared remarks, there will be a ...

Exhibit 99.1 Futu Announces First Quarter 2024 Unaudited Financial Results HONG KONG, May 28, 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 first quarter ended March 31, 2024. First Quarter 2024 Operational Highlights ● Total number of paying clients increased 23.5% year-over-year to 1,887,270 as of March 31, 2024. ● Total number of registe ...

HONG KONG, May 28, 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 first quarter ended March 31, 2024. First Quarter 2024 Operational Highlights Total number of paying clients1 increased 23.5% year-over-year to 1,887,270 as of March 31, 2024.Total number of registered clients2 increased 15.4% year-over-year to 3,812,326 as of March 31, 2024.To ...