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Up Fintech Holding Ltd (TIGR)
NASDAQ:TIGR
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Up Fintech Holding
(NASDAQ:TIGR)
Rating:69Neutral
Price Target:
$9.00
▲(7.53%Upside)
Positive Factors
Customer Growth
The number of new paying customers was stronger-than-expected, exceeding management's guidance and revised expectations.
Financial Performance
UP Fintech reported a solid non-GAAP net profit of USD 36.04 million, driven by increased trading volume.
Market Position
Up Fintech is a leading online broker aiming to serve global investors, with its user-friendly trading experience enabling rapid growth and market share gain from traditional brokers.
Negative Factors
Competition
Intensifying competition will lead to lower commission rates or higher selling and marketing costs.
Market Conditions
Weaker-than-expected impact of fiscal stimulus from China, substantial slowdown in the global economy, and noticeable correction in global equities are concerns.
Operating Expenses
Neutral/High Risk on earnings headwind from likely higher operating expenses and potential market pullback in HK/US.
Up Fintech Holding (TIGR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.43B
Dividend YieldN/A
Average Volume (3M)3.59M
Price to Earnings (P/E)18.2
Beta (1Y)1.47
Revenue Growth52.63%
EPS Growth96.46%
CountryUS
Employees1,193
SectorFinancial
Sector Strength85
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)0.20
Shares Outstanding180,388,440
10 Day Avg. Volume3,025,958
30 Day Avg. Volume3,588,392
Financial Highlights & Ratios
PEG Ratio0.30
Price to Book (P/B)2.45
Price to Sales (P/S)0.00
P/FCF Ratio0.00
Enterprise Value/Market Cap0.96
Enterprise Value/Revenue1.04
Enterprise Value/Gross Profit4.91
Enterprise Value/Ebitda2.96
Forecast
1Y Price Target
$10.42Price Target Upside24.49% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
Up Fintech Holding Business Overview & Revenue Model
Company DescriptionUp Fintech Holding Limited, also known as Tiger Brokers, is a leading online brokerage firm focusing on global Chinese investors. The company provides a comprehensive suite of financial services, including securities brokerage, wealth management, and financial advisory services. Up Fintech operates a highly efficient and user-friendly mobile trading platform that allows users to trade a wide range of financial instruments such as stocks, options, futures, and mutual funds in multiple markets worldwide.
How the Company Makes MoneyUp Fintech Holding makes money primarily through commissions and fees from its brokerage services. The company charges clients for executing trades on its platform, which constitutes a significant portion of its revenue. Additionally, Up Fintech earns income from interest on margin financing and securities lending services it provides to its clients. The company also generates revenue from other financial services such as asset management and premium membership subscriptions, which offer users enhanced trading tools and features. Partnerships with financial institutions and market data providers further bolster its revenue streams by expanding its service offerings and improving its platform capabilities.
Up Fintech Holding Earnings Call Summary
Earnings Call Date:May 30, 2025
(Q1-2025)
| % Change Since: -0.71%|
Next Earnings Date:Sep 04, 2025
Earnings Call Sentiment Positive
The earnings call highlighted significant achievements in revenue growth, trading volume, and client asset expansion, alongside strategic advancements in AI and market positioning in Hong Kong. However, there were concerns regarding a slight decrease in interest income, increased operating costs, and higher customer acquisition costs. Despite these lowlights, the overall performance and strategic initiatives suggest a positive outlook.Q1-2025 Updates
Positive Updates
Record Revenue Growth
Total revenue reached $122.6 million, up 55.3% year-over-year.
Strong Trading Volume and Commission Income
Total trading volume reached $217 billion, and commission income hit a record-high of $58.3 million, more than doubling year-over-year.
Increase in Marketing, Financing and Securities Lending Balance
Balance increased to $5.2 billion, up 89.4% year-over-year.
Non-GAAP and GAAP Net Income Growth
Non-GAAP net income increased to $36 million, reflecting an 18.3% sequential increase and a 145% increase year-over-year. GAAP net income reached $30.4 million, up 8.4% quarter-over-quarter and 146.7% year-over-year.
Growth in Funded Accounts
Added 60,900 new funded accounts, representing a 2.9% increase quarter-over-quarter and 111.2% growth year-over-year.
Record Client Asset Levels
Total client assets reached $45.9 billion, up 9.9% quarter-over-quarter and 39.5% year-over-year.
AI and Product Enhancements
Upgraded TigerGPT to TigerAI, improving user satisfaction to over 80%.
Hong Kong Market Expansion
Received approval to offer virtual asset trading in Hong Kong, enhancing market presence.
Negative Updates
Interest Income Slight Decrease
Interest income slightly decreased 4% quarter-over-quarter due to maturity of US treasury holdings.
Increased Operating Costs
Total operating costs were $67.1 million, an increase of 32% from the same quarter of last year.
Higher Customer Acquisition Cost (CAC)
Average CAC is expected to rise to around $250 to $300 from previous $150 to $180.
Company Guidance
During the first quarter of 2025, UP Fintech Holding Limited demonstrated significant growth across various metrics. The company reported a total revenue of $122.6 million, marking a 55.3% increase year-over-year, with a record-high commission income of $58.3 million, more than doubling from the previous year. Trading volume reached $217 billion, while marketing, financing, and securities lending balance rose to $5.2 billion, an 89.4% increase year-over-year. Net interest income was $53.8 million, up 22.7% from the previous year. The company added 60,900 new funded accounts, achieving over 40% of its annual target, with total client assets reaching a record $45.9 billion. Non-GAAP net income surged to $36 million, reflecting an 18.3% quarterly increase and a 145% year-over-year rise, while GAAP net income reached $30.4 million, up 8.4% quarter-over-quarter and 146.7% year-over-year. The company also highlighted strategic market expansions, particularly in Hong Kong, and enhancements in AI capabilities and cryptocurrency offerings.Up Fintech Holding Financial Statement Overview
Summary
Up Fintech Holding has demonstrated robust revenue growth and improved profitability, with a strong gross profit margin. The balance sheet shows financial stability with low debt levels. However, inconsistent cash flow generation remains a concern for operational sustainability.Income Statement
Up Fintech Holding has demonstrated robust revenue growth from 2019 to 2024, with Total Revenue increasing from $58.7M in 2019 to $330.7M in 2024. The company boasts a strong Gross Profit Margin, consistently at 100% in recent years, indicating effective cost management. The Net Profit Margin has improved significantly, moving from negative territory in 2019 to a notable 18.36% in 2024, reflecting enhanced profitability. However, EBIT and EBITDA margins have been volatile, suggesting some operational inefficiencies.75
Positive
Balance Sheet
The balance sheet reflects a strengthening equity position with Stockholders' Equity growing from $211.9M in 2019 to $655.2M in 2024, indicating financial stability. The Debt-to-Equity ratio has remained low, standing at 0.24 in 2024, suggesting prudent leverage management. However, the Equity Ratio has fluctuated, with the latest at 10.25% in 2024, pointing to room for improvement in capital structure resilience.70
Positive
Cash Flow
Cash flow generation has been inconsistent, with a substantial Operating Cash Flow in 2019 and 2020 but declining in subsequent years, with TTM showing zero. Free Cash Flow has similarly fluctuated, with significant levels in early years but reduced to zero in 2024. This presents concerns about cash management and sustainability of operations without external financing.60
Neutral
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 391.54M | 272.51M | 225.37M | 264.49M | 138.50M | Gross Profit |
| 254.52M | 162.67M | 89.34M | 127.81M | 65.71M | EBIT |
| 139.27M | 79.80M | 1.66M | 12.05M | 20.10M | EBITDA |
| 141.89M | 82.64M | 4.47M | 19.00M | 21.03M | Net Income Common Stockholders |
| 60.73M | 32.56M | -2.26M | 14.69M | 16.06M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 470.20M | 751.66M | 441.14M | 276.01M | 98.91M | Total Assets |
| 6.39B | 3.75B | 3.80B | 3.32B | 2.19B | Total Debt |
| 169.56M | 165.80M | 13.88M | 154.54M | 7.21M | Net Debt |
| -224.02M | -156.80M | -263.78M | -114.51M | -72.45M | Total Liabilities |
| 5.73B | 3.25B | 3.35B | 2.87B | 1.96B | Stockholders Equity |
| 655.23M | 488.98M | 447.13M | 446.63M | 235.69M |
| Cash Flow | Free Cash Flow | |||
| 826.42M | -9.33M | 253.17M | 408.24M | 534.30M | Operating Cash Flow |
| 827.98M | -6.57M | 258.06M | 413.20M | 535.28M | Investing Cash Flow |
| -8.66M | -7.75M | -3.61M | 10.92M | 43.56M | Financing Cash Flow |
| 103.83M | 1.82M | 4.73M | 330.88M | -8.37M |
Up Fintech Holding Technical Analysis
Neutral
8.37
Price Trends
8.31
Positive
7.82
Positive
6.84
Positive
Market Momentum
0.02
Positive
45.65
Neutral
25.43
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TIGR, the sentiment is Neutral. The current price of 8.37 is below the 20-day moving average (MA) of 9.02, above the 50-day MA of 8.31, and above the 200-day MA of 6.84, indicating a neutral trend. The MACD of 0.02 indicates Positive momentum. The RSI at 45.65 is Neutral, neither overbought nor oversold. The STOCH value of 25.43 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TIGR.
Up Fintech Holding Risk Analysis
Up Fintech Holding disclosed 97 risk factors in its most recent earnings report. Up Fintech Holding reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Up Fintech Holding Peers Comparison
Overall Rating
UnderperformOutperform
Sector (64)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | $4.53B | 17.01 | 23.44% | ― | 56.04% | 58.58% | |
79 Outperform | $10.20B | 12.38 | 21.71% | <0.01% | -2.79% | 1.33% | |
75 Outperform | $5.26B | 26.51 | 96.33% | 0.66% | 16.04% | 60.32% | |
73 Outperform | $88.61B | 28.94 | 19.26% | 0.51% | 14.67% | 23.59% | |
72 Outperform | $8.12B | 37.58 | 16.25% | 1.39% | 7.22% | -15.53% | |
69 Neutral | $1.43B | 18.19 | 13.18% | ― | 52.63% | 96.46% | |
64 Neutral | $12.79B | 9.72 | 7.54% | 16971.00% | 12.07% | -7.53% |
* Financial Sector Average
Performance Comparison
TIGR
Up Fintech Holding
8.37
4.32
106.67%
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Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.