Upstart (UPST) Set to Announce Quarterly Earnings on Monday

Upstart (NASDAQ:UPST – Get Rating) is scheduled to post its quarterly earnings results after the market closes on Monday, August 8th. Analysts expect Upstart to post earnings of ($0.05) per share for the quarter. Upstart has set its FY 2022 guidance at EPS and its Q2 2022 guidance at $0.29-$0.31 EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

Upstart (NASDAQ:UPST – Get Rating) last issued its earnings results on Monday, May 9th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.25 by $0.09. The firm had revenue of $310.14 million during the quarter, compared to the consensus estimate of $300.13 million. Upstart had a return on equity of 20.27% and a net margin of 15.23%. The business’s quarterly revenue was up 155.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.12 earnings per share. On average, analysts expect Upstart to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Upstart Trading Down 0.2 %

Shares of NASDAQ UPST opened at $24.33 on Monday. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 14.84 and a beta of 2.05. Upstart has a 12 month low of $22.42 and a 12 month high of $401.49. The stock has a 50-day moving average price of $35.03 and a two-hundred day moving average price of $76.40.

Insider Activity at Upstart

In related news, General Counsel Alison Nicoll sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $89.62, for a total value of $672,150.00. Following the sale, the general counsel now directly owns 186,367 shares in the company, valued at $16,702,210.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 38,383 shares of company stock worth $1,979,109 over the last ninety days. Insiders own 18.87% of the company’s stock.

Hedge Funds Weigh In On Upstart

Institutional investors have recently added to or reduced their stakes in the business. SkyView Investment Advisors LLC acquired a new position in Upstart in the first quarter valued at approximately $45,000. Covestor Ltd lifted its stake in Upstart by 3,345.2% in the first quarter. Covestor Ltd now owns 1,068 shares of the company’s stock valued at $117,000 after buying an additional 1,037 shares during the period. Geneos Wealth Management Inc. lifted its stake in Upstart by 62.6% in the first quarter. Geneos Wealth Management Inc. now owns 1,145 shares of the company’s stock valued at $124,000 after buying an additional 441 shares during the period. Salem Investment Counselors Inc. lifted its stake in Upstart by 38.6% in the first quarter. Salem Investment Counselors Inc. now owns 1,455 shares of the company’s stock valued at $159,000 after buying an additional 405 shares during the period. Finally, Captrust Financial Advisors lifted its stake in Upstart by 82.4% in the first quarter. Captrust Financial Advisors now owns 1,837 shares of the company’s stock valued at $200,000 after buying an additional 830 shares during the period. 59.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the company. Morgan Stanley downgraded Upstart from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $88.00 to $19.00 in a research note on Wednesday, June 29th. Citigroup cut Upstart from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $180.00 to $50.00 in a report on Tuesday, May 10th. Stephens cut Upstart from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $124.00 to $28.00 in a report on Tuesday, May 10th. Bank of America reduced their price target on Upstart from $41.00 to $34.00 and set a “neutral” rating on the stock in a report on Friday, July 8th. Finally, Wedbush reduced their price target on Upstart from $70.00 to $35.00 in a report on Tuesday, May 10th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $89.69.

Upstart Company Profile

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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 partners. The company was founded in 2012 and is headquartered in San Mateo, California.