Judy Zhang, an analyst from Citi, maintained the Buy rating on Up Fintech Holding. The associated price target is $17.50.
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Judy Zhang has given her Buy rating due to a combination of factors, primarily the strong financial performance demonstrated by Up Fintech Holding in the third quarter of 2025. The company reported a significant non-GAAP net profit, driven by robust brokerage commission and net interest income, supported by solid growth in client asset balances. Despite a challenging environment with increased customer acquisition costs, the operating margin improved year-over-year, indicating efficient management of expenses.
Additionally, Up Fintech Holding has shown resilience in customer acquisition, achieving its 2025 target for new paying customers ahead of schedule. The strategic focus on customer quality over quantity, along with a disciplined approach to closing non-performing channels, has positioned the company well for future growth. The stock’s current trading price, combined with a projected price-to-earnings ratio that suggests substantial upside potential, further supports the Buy recommendation.

