Up Fintech Holding: Strong Q1 Performance Amidst Future Earnings Headwinds, Hold Rating Maintained

In a report released on May 30, Judy Zhang from Citi maintained a Hold rating on Up Fintech Holding (TIGR – Research Report), with a price target of $9.50.

Judy Zhang’s rating is based on a combination of factors that reflect both positive and challenging aspects of Up Fintech Holding’s current financial performance and future outlook. The company reported a strong first quarter with a significant increase in non-GAAP net profit, driven by higher trading volumes and improved cost efficiency. This was complemented by a robust growth in the number of new paying customers and a substantial increase in client asset balances, particularly from the Greater China region.
However, despite these positive developments, Judy Zhang maintains a Hold rating due to potential headwinds that could impact future earnings. The anticipated increase in operating expenses as the company plans to enhance customer acquisition efforts in the second half of 2025, along with the possibility of market pullbacks in key regions such as Hong Kong and the US, contribute to a cautious outlook. These factors suggest that while the company is performing well, uncertainties in the market and increased costs may limit significant upside in the stock price in the near term.