Zacks Equity Research Describes FRHC Shares as Momentum Stocks

The stocks rose 9.7% over the last month

Shares of Freedom Holding Corp. have been included in the list of the best momentum stocks according to Zacks Equity Research, a think tank from America.

At the end of this year, revenue generated by Freedom Holding Corp. might rise by 64.4%, the agency said.

In a survey of brokerage companies, finance consultants and investment banking by Zacks, FRHC has been granted a buy rank with strong momentum characteristics.

In addition to FRHC stocks, there are two more stocks that Zacks recommends buying: Newmark Group, Inc. (NMRK), a commercial real estate advisory firm and Hamilton Lane Incorporated (HLNE), an investment management firm.

Over the last month, NMRK rose by 9.9%, while HLNE reached 22.7% of growth. 

In turn, Freedom Holding Corp. reported that in Q3 its revenue rose 8.5-fold to $205 million. The earnings per share ratio in Q3 was $3.44; for comparison, the rate was just $0.40 during the same period last year.

Freedom Holding Corp. is a provider of retail financial brokerage, investment consulting, securities trading, investment banking and underwriting services via its Freedom Finance subsidiaries. The company is a professional participant of the Kazakhstan Stock Exchange (KASE), Astana International Exchange (AIX), Moscow Exchange (MOEX), Saint Petersburg Stock Exchange (SPB), Republican Stock Exchange Toshkent and Ukrainian Exchange. The holding’s common shares have been traded on NASDAQ, KASE, SPB and Ukrainian Exchange.

Read also