UP Fintech Holding Ltd ADR [TIGR] Revenue clocked in at $272.51 million, down -8.14% YTD: What’s Next?

UP Fintech Holding Ltd ADR [NASDAQ: TIGR] price plunged by -9.17 percent to reach at -$0.41. The company report on March 20, 2024 at 4:05 AM that UP Fintech: Client Assets Hit Record High, Over 75% from Clients in Markets such as SG; 2023 Net Income Surged by 237%.

UP Fintech Holding Limited (“UP Fintech” or the “Company”, Nasdaq: TIGR, and all its subsidiaries and consolidated entities), a leading online brokerage firm committed to redefining global investing through next-generation technologies, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2023. In the fourth quarter, the Company achieved a revenue of US$70 million. For the year ended 2023, total revenues increased 20.9% year-over-year to US$272.5 million. Due to the depreciation of the US dollar in the fourth quarter, resulting in a non-cash foreign exchange loss of over US$7 million, the non-GAAP net income for the quarter amounted to US$1.1 million. For the entire year, the non-GAAP net income totaled US$42.7 million, which is 3.4 times that of 2022.

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During the fourth quarter, UP Fintech added 47,797 new global account holders, marking a 65.9% increase quarter-over-quarter and bringing the global total to 2.2 million, up 9.3% year-over-year. Funded accounts increased by 39,034, showing a growth of 58.6% quarter-over-quarter and 42.8% year-over-year, reaching a total of 904,600 accounts. In 2023, the company added 123,110 funded accounts, mainly from markets outside the Chinese mainland, surpassing annual guidance of 100,000. The Company’s total trading volume reached $81.8 billion during the period. With a strong brand presence in Southeast Asia and an expanding institutional business footprint, net asset inflow from both individual and institutional clients amounted to US$8.2 billion during the quarter, maintaining robust momentum. This drove a quarter-over-quarter increase of 62.1% and a year-over-year increase of 118.5% in total client assets, reaching US$30.6 billion. The retention rate of funded clients remained consistently high at 98%.

The one-year TIGR stock forecast points to a potential upside of 32.45. The average equity rating for TIGR stock is currently 1.67, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on UP Fintech Holding Ltd ADR [TIGR]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TIGR shares is $6.01 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TIGR stock is a recommendation set at 1.67. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Daiwa Securities have made an estimate for UP Fintech Holding Ltd ADR shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 05, 2023. While these analysts kept the previous recommendation, China Renaissance dropped their target price from $38.50 to $3.80. The new note on the price target was released on May 19, 2022, representing the official price target for UP Fintech Holding Ltd ADR stock. Previously, the target price had yet another raise to $6.60, while Daiwa Securities analysts kept a Buy rating on TIGR stock.

The Average True Range (ATR) for UP Fintech Holding Ltd ADR is set at 0.27, with the Price to Sales ratio for TIGR stock in the period of the last 12 months amounting to 2.23. The Price to Book ratio for the last quarter was 1.32, with the Price to Cash per share for the same quarter was set at 15.83.

TIGR Stock Performance Analysis:

UP Fintech Holding Ltd ADR [TIGR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -18.31. With this latest performance, TIGR shares gained by 4.37% in over the last four-week period, additionally sinking by -18.47% over the last 6 months – not to mention a rise of 34.44% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TIGR stock in for the last two-week period is set at 46.51, with the RSI for the last a single of trading hit 42.53, and the three-weeks RSI is set at 48.14 for UP Fintech Holding Ltd ADR [TIGR]. The present Moving Average for the last 50 days of trading for this stock 3.99, while it was recorded at 4.35 for the last single week of trading, and 4.11 for the last 200 days.

TIGR Stock EPS

With the latest financial reports released by the company, UP Fintech Holding Ltd ADR posted -0.04/share EPS, while the average EPS was predicted by analysts to be reported at 0.27/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -114.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TIGR.

UP Fintech Holding Ltd ADR [TIGR] Institutonal Ownership Details

The top three institutional holders of TIGR stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in TIGR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in TIGR stock with ownership which is approximately 5.8325%.