What's Going On With Upstart Holdings Stock Today?
Portfolio Pulse from Erica Kollmann
Upstart Holdings, Inc. (NASDAQ:UPST) stock is trading higher by over 13% amid a broader tech market rally following the release of cooling inflation data. Despite today's gains, UPST has fallen more than 15% over the past five days after reporting disappointing Q3 financial results. Analysts from Piper Sandler, Wedbush, and JP Morgan have updated their coverage, with price targets ranging from $10 to $27. The stock is currently trading below its 50-day moving average and significantly below its 52-week high, with a high short interest of 40.88%.
November 14, 2023 | 6:27 pm
News sentiment analysis
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NEUTRAL IMPACT
Upstart Holdings' stock is experiencing a short-term rally due to positive sentiment in the tech sector, but faces downward pressure from recent poor earnings and bearish analyst price targets.
While UPST is benefiting from the broader tech rally today, the negative earnings report and subsequent analyst downgrades suggest a cautious outlook. The high short interest indicates that many investors are betting against the stock, which could lead to increased volatility. The stock's performance below its moving average and far from its 52-week high also reflects a bearish sentiment. However, the current rally shows some positive investor sentiment, leading to a neutral short-term score.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 100