Jefferies Raises Futu Holdings (FUTU) Price Target, Maintains Buy Rating Following Strong Q1

On May 29, 2025, Jefferies raised its price target for Futu Holdings Limited (NASDAQ:FUTU) to $139 from $135 and maintained a Buy rating on the stock. The adjustment came hours after Futu released Q1 2025 earnings.

Jefferies Raises Futu Price Target, Maintains Buy Rating Following Strong Q1

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In the Q1 2025 earnings, Futu Holdings Limited posted huge growth. Quarterly revenue jumped by 81% year-over-year to HK$4.7 billion ($603 million), and the gross margin surged to an industry-leading 93%. The adjusted non-GAAP net profit climbed 98% to HK$2.22 billion ($288.6 million).

Futu’s management has confirmed its full-year guidance. The company expects to add 800,000 net new funded accounts this year, driving strong market performance with a 34.65% YTD stock return and a $15 billion market cap. The company is expanding globally, with its subsidiary Moomoo entering New Zealand. Futu is also developing cryptocurrency products to tap into the growing digital currency market. Additionally, it launched Futubull AI in Hong Kong, with plans for an international rollout in Q2, reinforcing its tech-driven approach.

Jefferies’ analyst Zoey Zong cited Futu’s continued growth trajectory (as evidenced by the robust performance in Q1 2025) and product expansion as key factors supporting the Buy rating. Most importantly, Zong indicated that the most consequential factor in her firm’s decision is that Futu’s revenues for Q1 2025 were 7% higher than market predictions.

Futu Holdings Limited (NASDAQ:FUTU) is an online brokerage and wealth management company. It provides trading, investment, and financial services through its platforms, including Futubull and Moomoo. The company serves retail investors across China, Hong Kong, the United States, and other international markets.

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