FUTU Holdings LTD.: Actions speak louder than words

研报英文原文证据摘录

FUTU Holdings LTD.: Actions speak louder than words

Equity Research

China Technology

29 May 2026

FUTU Holdings LTD.

Actions speak louder than words

Earnings ReviewFUTU is poised to start prediction market in the US and

crypto exchange in Hong Kong; Reiterate OW and PT of $200

FUTU OVERWEIGHT

Unchanged

China Technology POSITIVE

THE 2026 EXTEL SURVEY IS NOW OPEN Price Target USD 200.00

Price (28-May-26) USD 104.91 Support our industry-leading analysts with 5-Star

Potential Upside/Downside +90.6%

votes in this year’s Extel All-America Research Source: Bloomberg, Barclays Research

Survey

Market Cap (USD mn) 14707

Shares Outstanding (mn) 140.19

Vote Now View Analysts Free Float (%) N/A

52 Wk Avg Daily Volume (mn) 2.3

Dividend Yield (%) 2.48

Return on Equity TTM (%) 33.34

Summary: Following the stock sell-off after Chinese regulators announced new rules to limit Current BVPS (USD) 252.80

China based retail investors’ purchases of overseas’ stocks through non-China based brokerage Source: Bloomberg

firms last Friday, FUTU repurchased over $400m worth of its stocks in 3 days. Many companies

regularly state that their stocks being undervalued. Not many companies would buy Price Performance Exchange-Nasdaq

approximately $150m (1% of MC) a day of their stock to express that view and FUTU did just 52 Week range USD 202.53-80.50

that. As we have highlighted in our reports, FUTU’s near-term financial results themselves are

not super relevant as their quarterly results are most driven by market ups-and-downs and

retail investors’ risk appetite at any given point, as well as overall market liquidity. We instead

focus more on its operational metrics and improvements. In Q1, the company added another

220,000 new paying customers to bring its total number of paying customers to 3.59mn.