Upstart (UPST) to Release Quarterly Earnings on Tuesday

Upstart (NASDAQ:UPST) will be announcing its earnings results after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of ($0.38) per share for the quarter. Upstart has set its Q1 2024 guidance at EPS.Investors interested in participating in the company’s conference call can do so using this link.

Upstart (NASDAQ:UPST) last posted its quarterly earnings data on Tuesday, February 13th. The company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.56) by $0.05. The firm had revenue of $140.31 million during the quarter, compared to analysts’ expectations of $135.28 million. Upstart had a negative net margin of 46.76% and a negative return on equity of 35.47%. On average, analysts expect Upstart to post $-2 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Upstart Stock Performance

Shares of UPST opened at $23.04 on Tuesday. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of -7.94 and a beta of 1.94. Upstart has a 52 week low of $11.93 and a 52 week high of $72.58. The business’s fifty day moving average price is $24.89 and its two-hundred day moving average price is $29.35.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Upstart from $26.00 to $24.00 and set an “underweight” rating for the company in a report on Wednesday, February 14th. Piper Sandler reissued a “neutral” rating and set a $28.00 price target on shares of Upstart in a research note on Tuesday, March 19th. Bank of America started coverage on shares of Upstart in a research note on Thursday, April 4th. They issued an “underperform” rating and a $22.00 price objective on the stock. Mizuho increased their price target on Upstart from $19.00 to $23.00 and gave the company an “underperform” rating in a research note on Thursday, January 18th. Finally, JMP Securities restated a “market perform” rating on shares of Upstart in a research report on Wednesday, April 17th. Five analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $26.00.

Insider Activity

In related news, CFO Sanjay Datta sold 1,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $33.84, for a total transaction of $33,840.00. Following the sale, the chief financial officer now owns 354,090 shares of the company’s stock, valued at approximately $11,982,405.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Upstart news, CFO Sanjay Datta sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $33.84, for a total transaction of $33,840.00. Following the sale, the chief financial officer now directly owns 354,090 shares in the company, valued at approximately $11,982,405.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Natalia Mirgorodskaya sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $25.48, for a total transaction of $63,700.00. Following the completion of the transaction, the insider now owns 29,165 shares of the company’s stock, valued at approximately $743,124.20. The disclosure for this sale can be found here. Insiders sold 66,419 shares of company stock valued at $1,750,272 in the last quarter. Company insiders own 18.06% of the company’s stock.

Upstart Company Profile

Upstart Holdings, Inc, together with its subsidiaries, operates a cloud-based artificial intelligence (AI) lending platform in the United States. Its platform includes personal loans, automotive retail and refinance loans, home equity lines of credit, and small dollar loans that connects consumer demand for loans to its to bank and credit unions.