Upstart Holdings, Inc. to Post Q1 2024 Earnings of ($0.36) Per Share, Wedbush Forecasts (NASDAQ:UPST)

Upstart Holdings, Inc. (NASDAQ:UPSTFree Report) – Equities researchers at Wedbush lowered their Q1 2024 EPS estimates for Upstart in a report issued on Tuesday, January 16th. Wedbush analyst D. Chiaverini now forecasts that the company will earn ($0.36) per share for the quarter, down from their prior estimate of ($0.26). Wedbush has a “Underperform” rating and a $10.00 price objective on the stock. The consensus estimate for Upstart’s current full-year earnings is ($2.73) per share. Wedbush also issued estimates for Upstart’s Q2 2024 earnings at ($0.36) EPS, Q3 2024 earnings at ($0.35) EPS, Q4 2024 earnings at ($0.34) EPS, FY2024 earnings at ($1.37) EPS, Q1 2025 earnings at ($0.30) EPS, Q2 2025 earnings at ($0.25) EPS, Q3 2025 earnings at ($0.12) EPS, Q4 2025 earnings at $0.03 EPS, FY2025 earnings at ($0.62) EPS and FY2026 earnings at $0.43 EPS.

Upstart (NASDAQ:UPSTGet Free Report) last posted its quarterly earnings data on Tuesday, November 7th. The company reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.04). Upstart had a negative net margin of 48.64% and a negative return on equity of 36.84%. The firm had revenue of $134.56 million for the quarter, compared to analysts’ expectations of $139.69 million.

A number of other analysts have also issued reports on UPST. JPMorgan Chase & Co. reduced their price target on shares of Upstart from $28.00 to $26.00 and set an “underweight” rating for the company in a research report on Wednesday, November 8th. Needham & Company LLC assumed coverage on shares of Upstart in a research report on Monday, September 25th. They issued a “hold” rating for the company. Piper Sandler reduced their price target on shares of Upstart from $35.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, November 8th. Finally, B. Riley cut their price objective on shares of Upstart from $49.00 to $36.00 and set a “neutral” rating on the stock in a research report on Thursday, September 21st. Five analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Upstart has an average rating of “Hold” and a consensus price target of $25.09.

Check Out Our Latest Research Report on Upstart

Upstart Stock Up 2.0 %

UPST stock opened at $31.06 on Thursday. Upstart has a one year low of $11.93 and a one year high of $72.58. The firm has a 50-day moving average of $33.82 and a two-hundred day moving average of $35.21.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of UPST. Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of Upstart by 104,187.2% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 50,939,090 shares of the company’s stock worth $1,824,129,000 after purchasing an additional 50,890,245 shares during the last quarter. Norges Bank acquired a new position in Upstart in the fourth quarter valued at about $11,225,000. Vanguard Group Inc. increased its holdings in Upstart by 16.9% during the 1st quarter. Vanguard Group Inc. now owns 5,822,210 shares of the company’s stock valued at $635,145,000 after purchasing an additional 840,668 shares in the last quarter. Morgan Stanley grew its holdings in Upstart by 65.6% during the 3rd quarter. Morgan Stanley now owns 1,914,933 shares of the company’s stock worth $54,652,000 after acquiring an additional 758,669 shares during the last quarter. Finally, Barclays PLC lifted its position in shares of Upstart by 128.9% during the second quarter. Barclays PLC now owns 104,898 shares of the company’s stock worth $3,756,000 after purchasing an additional 468,235 shares in the last quarter. 42.50% of the stock is owned by institutional investors.

Insider Buying and Selling at Upstart

In other news, CFO Sanjay Datta sold 1,000 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $31.00, for a total value of $31,000.00. Following the sale, the chief financial officer now owns 389,764 shares in the company, valued at $12,082,684. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Sanjay Datta sold 1,000 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $31.00, for a total value of $31,000.00. Following the sale, the chief financial officer now owns 389,764 shares in the company, valued at $12,082,684. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Natalia Mirgorodskaya sold 2,444 shares of the firm’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $23.25, for a total value of $56,823.00. Following the completion of the transaction, the insider now directly owns 30,833 shares of the company’s stock, valued at $716,867.25. The disclosure for this sale can be found here. Insiders have sold a total of 99,393 shares of company stock worth $2,908,102 over the last 90 days. Insiders own 18.45% of the company’s stock.

Upstart Company Profile

(Get Free Report)

Upstart Holdings, Inc, together with its subsidiaries, operates a cloud-based artificial intelligence (AI) lending platform in the United States. Its platform aggregates consumer demand for loans and connects it to its network of the company's AI-enabled bank and credit union partners. The company was founded in 2012 and is headquartered in San Mateo, California.

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Earnings History and Estimates for Upstart (NASDAQ:UPST)

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