Upstart Holdings' Future Growth Potential Emphasized Despite Near-Term Funding Challenges: Analyst
Portfolio Pulse from Lekha Gupta
Needham analyst Kyle Peterson initiated coverage on Upstart Holdings Inc (NASDAQ:UPST) with a Hold rating. Despite near-term funding challenges and a projected revenue decline of ~37% in FY23, Peterson sees significant long-term growth potential for UPST. He expects the company to add new bank/credit union partners and expand committed capital partnerships to drive growth in FY24 and beyond.
September 25, 2023 | 7:19 pm
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Despite near-term funding challenges and a projected revenue decline of ~37% in FY23, Upstart Holdings has significant long-term growth potential, according to Needham analyst Kyle Peterson.
The analyst's Hold rating indicates a neutral outlook for UPST in the short term. Despite the projected revenue decline in FY23 due to funding challenges, the company's potential to add new partners and expand capital partnerships could drive long-term growth. This could potentially offset the near-term negative impact.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100