TIGR - UP Fintech: Key Metric Guidance Is Unchanged Despite Q1 Beat (Rating Downgrade)
2025-06-02 04:33:19 ET
Summary
- I am downgrading TIGR to a Hold, following my assessment of its results and outlook.
- UP Fintech's normalized net income jumped by +145% in 1Q25. This is driven by strong commission fee growth, which, I think, will be sustained.
- But the company hasn't lifted its existing full-year Funded Customer Additions guidance. That is indicative of the challenges pertaining to adding new accounts with deposits in the coming quarters.
My view of UP Fintech Holding ( TIGR ) or "UFH" is Neutral now. Its FY2024 performance and SG ("Singapore") business outlook were analyzed in the earlier March 18, 2025, article ....
UP Fintech: Key Metric Guidance Is Unchanged Despite Q1 Beat (Rating Downgrade)