๐๐$Tiger Brokers(TIGR)$ also known as UP Fintech Holding is up 2.7% in the past 5 days and 5.5% year todate. However in 2024 Tiger Brokers had jumped 87% to reach a 52 week high of USD 14.46. Can Tiger Brokers achieve this again in 2025?
On November 12 2024, Tiger Brokers announced an excellent Q3 24 Earnings results.
Total revenues for the quarter increased 44.1% year over year to USD 101.1 million. This was a historical high. Total net revenues increased 47.1% year over year to USD 85.4 million.
Net income was USD 17.8 million, up 34% from previous year quarter of USD 13.2 million.
Non GAAP net income was USD 20.1 million, which increased by 25.6% from USD 16 million year over year.
Tiger Brokers added 50,500 customers with deposits in Q3 24. This is more than double from a year ago. The total number of customers with deposits at the end of Q3 24 has now reached 1,032,800. Driven by strong net assets inflow from retail clients and market gains, Total Account Balance is up 6.7% quarter over quarter and 115.9% year over year to reach USD 40.8 billion, setting another historical high.
According to Chairman and CEO of Tiger Brokers, both financial and operating performance have achieved significant growth in Q3 24.
In Q3 24, Tiger Brokers continues to add new products on its platform in order to enhance user experience as it believes that it is the key to its long term growth and success.
In September 2024, Tiger Brokers introduced the Tiger BOSS Debit Card, along with the T+0 automatic subscription and redemption feature for its wealth management product Tiger Vault in Singapore. This integration allows users to manage their invest portfolio more conveniently, seamlessly bridging daily spending, wealth management and stock investments.
In Hong Kong, Tiger Brokers also launched its Hong Kong Stock Option Trading and Short Selling in Q3 24. Tiger Brokers' corporate business also performed well as it underwrote a total of 13 US and Hong Kong IPOs. These include NIP Group and Voicecomm Technology.
2024 was a milestone for Tiger Brokers as it celebrated its 10th Anniversary in June, with over 10 million users globally, 2.25 million account holders and saw customer assets grow 104% year over year to an all time high of USD 32.9 billion.
Tiger Brokers also won numerous awards. In November 2024, Tiger Brokers has been recognised as the Number 1 company in the Wealth Tech category on Fortune's inaugural Asia Fintech Innovators of 2024 list.
Tiger Brokers was also awarded as the Best Retail Broker by the Securities Investors Association Singapore for 2 consecutive years. Around 1 in 3 Singapore residents had tried Tiger Trade with high net worth investors increasing in numbers.
Wall Street Analysts are bullish on Tiger Brokers with a Buy rating, Average Target price of USD 10.80, an upside potential of 53% according to Tipranks.
I have invested in Tiger Brokers about 6 months ago and am happy with its performance todate. I have seen first hand how Tiger Brokers continues to innovate with new products such as Tiger GPT, Tiger Cash Boost and improving its platform.
I believe that there is lots of exponential growth ahead with Tiger Brokers and that it is still undervalued. There is also tailwind from the raft of stimulus measures introduced by the Chinese authorities to help boost the economy that may benefit Tiger Brokers.
Go Long Go Strong Go Tiger Brokers! ๐ฏ๐ฏ๐ฏ๐๐๐๐๐๐๐๐๐๐ฐ๐ฐ๐ฐ
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