UP Fintech (NASDAQ:TIGR) Releases Quarterly Earnings Results, Beats Expectations By $3.24 EPS

Key Points

• UP Fintech reported $3.45 in quarterly EPS, far exceeding the $0.21 analyst consensus, while revenue reached $160.75 million versus estimates of $153.93 million.
• Shares rose 5.2% following the results. The stock opened at $5.47, with a market capitalization of approximately $1.04 billion and a P/E ratio of 9.12.
• Analyst sentiment remains moderately positive, with four Buy ratings, one Hold, and one Sell; the consensus price target is $9.23 compared with the reported trading price.

UP Fintech (NASDAQ:TIGR - Get Free Report) issued its earnings results on Wednesday. The company reported $3.45 EPS for the quarter, beating analysts' consensus estimates of $0.21 by $3.24, FiscalAI reports. The business had revenue of $160.75 million during the quarter, compared to analyst estimates of $153.93 million. UP Fintech had a return on equity of 13.90% and a net margin of 17.64%.

UP Fintech Stock Up 5.2%

Shares of TIGR opened at $5.47 on Wednesday. The company has a market capitalization of $1.04 billion, a P/E ratio of 9.12 and a beta of 0.48. UP Fintech has a one year low of $4.00 and a one year high of $13.42. The business's 50 day simple moving average is $4.76 and its 200-day simple moving average is $5.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.10 and a quick ratio of 1.10.

Insiders Place Their Bets

In related news, Director Jian Liu sold 9,333 shares of the firm's stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $4.60, for a total transaction of $42,931.80. Following the completion of the sale, the director directly owned 62,665 shares of the company's stock, valued at $288,259. This trade represents a 12.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Institutional Trading of UP Fintech

Large investors have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership raised its holdings in shares of UP Fintech by 66.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 5,408,122 shares of the company's stock valued at $57,705,000 after buying an additional 2,161,023 shares during the last quarter. Bank of America Corp DE increased its position in UP Fintech by 122.6% in the 2nd quarter. Bank of America Corp DE now owns 2,282,337 shares of the company's stock valued at $22,025,000 after acquiring an additional 1,257,251 shares in the last quarter. Marshall Wace LLP grew its stake in shares of UP Fintech by 128.5% during the fourth quarter. Marshall Wace LLP now owns 2,019,197 shares of the company's stock valued at $19,304,000 after purchasing an additional 1,135,587 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of UP Fintech by 450.4% in the third quarter. National Bank of Canada FI now owns 1,976,720 shares of the company's stock valued at $21,092,000 after purchasing an additional 1,617,600 shares in the last quarter. Finally, Man Group plc raised its position in UP Fintech by 6.5% in the 4th quarter. Man Group plc now owns 1,906,970 shares of the company's stock worth $18,231,000 after purchasing an additional 116,424 shares during the last quarter. Institutional investors own 9.03% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TIGR. Bank of America reaffirmed a "buy" rating on shares of UP Fintech in a report on Monday, June 1st. Wall Street Zen downgraded UP Fintech from a "hold" rating to a "sell" rating in a report on Saturday, June 6th. Finally, Citigroup dropped their target price on UP Fintech to $7.10 and set a "buy" rating for the company in a report on Wednesday, June 3rd. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, UP Fintech has an average rating of "Moderate Buy" and a consensus target price of $9.23.

About UP Fintech

Up Fintech Holding Ltd, trading on NASDAQ under the ticker TIGR, is a China-based financial technology company that provides online brokerage and wealth management services through its proprietary trading platform. The company's primary offering, Tiger Brokers, enables retail and institutional clients to access global financial markets, including equities, exchange-traded funds (ETFs), options, and futures across the United States, Hong Kong, China A-shares, Australia, and Singapore.

Founded in 2014 by Zhang Zhen, Up Fintech has focused on developing an intuitive mobile and desktop trading experience, complete with real-time market data, customizable charting tools, and in-app research insights.

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