Brokerages Anticipate Upstart Holdings, Inc. (NASDAQ:UPST) Will Post Quarterly Sales of $298.12 Million

Wall Street analysts expect that Upstart Holdings, Inc. (NASDAQ:UPSTGet Rating) will post $298.12 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Upstart’s earnings. The highest sales estimate is $301.00 million and the lowest is $295.40 million. Upstart posted sales of $193.95 million during the same quarter last year, which indicates a positive year over year growth rate of 53.7%. The business is expected to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Upstart will report full year sales of $1.25 billion for the current year. For the next financial year, analysts anticipate that the firm will post sales of $1.59 billion, with estimates ranging from $1.49 billion to $1.72 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Upstart.

Upstart (NASDAQ:UPSTGet Rating) last released its quarterly earnings data on Monday, May 9th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.53 by $0.08. Upstart had a net margin of 15.23% and a return on equity of 20.27%. The business had revenue of $310.14 million for the quarter, compared to analyst estimates of $300.13 million. During the same period in the previous year, the firm earned $0.12 EPS. The business’s revenue for the quarter was up 155.6% compared to the same quarter last year.

UPST has been the topic of a number of recent research reports. Loop Capital initiated coverage on shares of Upstart in a report on Tuesday, April 5th. They issued a “buy” rating and a $140.00 target price on the stock. FBN Securities initiated coverage on shares of Upstart in a report on Tuesday, April 12th. They set an “outperform” rating and a $150.00 price objective on the stock. Barclays lowered shares of Upstart from an “overweight” rating to an “equal weight” rating and set a $35.00 price objective on the stock. in a report on Wednesday, May 11th. Citigroup lowered shares of Upstart from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $180.00 to $50.00 in a report on Tuesday, May 10th. Finally, Stephens lowered shares of Upstart from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $124.00 to $28.00 in a report on Tuesday, May 10th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $114.00.

NASDAQ:UPST opened at $41.95 on Tuesday. The firm has a market cap of $3.56 billion, a price-to-earnings ratio of 25.58 and a beta of 1.14. The company’s 50-day moving average is $86.10 and its two-hundred day moving average is $128.00. Upstart has a 12-month low of $25.43 and a 12-month high of $401.49.

In related news, CEO Dave Girouard sold 83,333 shares of the firm’s stock in a transaction on Friday, April 1st. The stock was sold at an average price of $108.39, for a total transaction of $9,032,463.87. Following the transaction, the chief executive officer now directly owns 87,114 shares in the company, valued at $9,442,286.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Alison Nicoll sold 7,500 shares of the firm’s stock in a transaction on Wednesday, March 2nd. The stock was sold at an average price of $146.64, for a total value of $1,099,800.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 208,308 shares of company stock valued at $20,564,172. Company insiders own 18.87% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vulcan Value Partners LLC lifted its stake in Upstart by 179.4% in the third quarter. Vulcan Value Partners LLC now owns 4,250,461 shares of the company’s stock valued at $1,345,016,000 after buying an additional 2,729,357 shares during the last quarter. Vanguard Group Inc. lifted its stake in Upstart by 16.9% in the first quarter. Vanguard Group Inc. now owns 5,822,210 shares of the company’s stock valued at $635,145,000 after buying an additional 840,668 shares during the last quarter. Two Sigma Advisers LP bought a new stake in Upstart in the third quarter valued at $168,314,000. Goldman Sachs Group Inc. lifted its stake in Upstart by 106.8% in the third quarter. Goldman Sachs Group Inc. now owns 33,404 shares of the company’s stock valued at $10,570,000 after buying an additional 522,191 shares during the last quarter. Finally, LA Financiere DE L Echiquier bought a new stake in Upstart in the first quarter valued at $43,312,000. Hedge funds and other institutional investors own 59.65% of the company’s stock.

Upstart Company Profile (Get Rating)

Upstart Holdings, Inc operates a cloud- based artificial intelligence (AI) lending platform in the United States. The company's platform aggregates consumer demand for loans and connects it to its network of the company's AI- enabled bank partners. Its platform connects consumers, banks, and institutional investors through a shared AI lending platform.

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Earnings History and Estimates for Upstart (NASDAQ:UPST)

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