What's Going On With Upstart (UPST) Stock Today
Portfolio Pulse from Henry Khederian
Shares of Upstart Holdings Inc (UPST) are trading lower by 11.24% following a downgrade of its competitor, Affirm Holdings Inc (AFRM), by Piper Sandler analyst Kevin Barker. The downgrade is based on anticipated challenges such as persistent higher rates impacting operating margins, tighter underwriting standards, higher pricing, and the reintroduction of student debt payments leading to a slowdown in revenue growth. This has led to speculation that Upstart may face similar issues.
July 06, 2023 | 2:11 pm
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NEGATIVE IMPACT
Affirm's stock was downgraded by Piper Sandler due to anticipated challenges such as higher rates, tighter underwriting standards, and higher pricing. This has led to a negative impact on its stock.
The downgrade by Piper Sandler is based on anticipated challenges that Affirm is expected to face, leading to a negative impact on its stock.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Upstart's stock is trading lower due to a downgrade of its competitor, Affirm. This suggests that Upstart may face similar challenges, impacting its stock negatively.
The downgrade of Affirm, a direct competitor, suggests that similar challenges may be faced by Upstart. This has led to a decrease in Upstart's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100