Yahoo Finance Analysts' Revenue Estimates For UP Fintech Holding Limited (NASDAQ:TIGR) Are Surging Higher
UP Fintech Holding Limited (NASDAQ:TIGR) shareholders will have a reason to smile today, with the analysts making substantial upgrades to this year's forecasts. The consensus estimated revenue numbers rose, with their view now clearly much more bullish on the company's business prospects. The market may be pricing in some blue sky too, with the share price gaining 25% to US$22.21 in the last 7 days. We'll be curious to see if these new estimates convince the market to lift the stock price higher still.
Following the upgrade, the current consensus from UP Fintech Holding's three analysts is for revenues of US$299m in 2021 which - if met - would reflect a sizeable 64% increase on its sales over the past 12 months. Prior to the latest estimates, the analysts were forecasting revenues of US$270m in 2021. The consensus has definitely become more optimistic, showing a solid increase in revenue forecasts.
See our latest analysis for UP Fintech Holding
Additionally, the consensus price target for UP Fintech Holding increased 6.9% to US$25.52, showing a clear increase in optimism from the analysts involved. That's not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. Currently, the most bullish analyst values UP Fintech Holding at US$30.00 per share, while the most bearish prices it at US$21.63. There are definitely some different views on the stock, but the range of estimates is not wide enough as to imply that the situation is unforecastable, in our view.
Taking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. We would highlight that UP Fintech Holding's revenue growth is expected to slow, with the forecast 64% annualised growth rate until the end of 2021 being well below the historical 172% growth over the last year. Juxtapose this against the other companies in the industry with analyst coverage, which are forecast to grow their revenues (in aggregate) 2.2% per year. So it's pretty clear that, while UP Fintech Holding's revenue growth is expected to slow, it's still expected to grow faster than the industry itself.
The Bottom Line
The highlight for us was that analysts increased their revenue forecasts for UP Fintech Holding this year. They're also forecasting more rapid revenue growth than the wider market. There was also a nice increase in the price target, with analysts apparently feeling that the intrinsic value of the business is improving. Seeing the dramatic upgrade to this year's forecasts, it might be time to take another look at UP Fintech Holding.
Looking for more information? We have analyst estimates for UP Fintech Holding going out to 2023, and you can see them free on our platform here.
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This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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