What's Going On With Upstart Holdings Stock Wednesday?
Portfolio Pulse from Adam Eckert
Upstart Holdings Inc (NASDAQ:UPST) shares fell after reporting Q4 financial results, with a revenue decrease of 4% YoY to $140.91 million, surpassing estimates. The company reported a loss of 11 cents per share, better than expected. Loan originations dropped 19% from the previous year. Upstart forecasts Q1 revenue of $125 million, below estimates, and anticipates a $25 million adjusted EBITDA loss. Piper Sandler maintained a Neutral rating on UPST, raising the price target from $27 to $28.
February 14, 2024 | 1:47 pm
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NEGATIVE IMPACT
Upstart Holdings reported a decrease in Q4 revenue and loan originations, but surpassed earnings estimates. Q1 revenue forecast is below expectations, with an anticipated EBITDA loss. Piper Sandler maintains a Neutral rating, raising the price target slightly.
The negative reaction in UPST's stock price is likely due to the disappointing Q1 revenue forecast and expected EBITDA loss, despite slightly beating Q4 expectations. The slight increase in price target by Piper Sandler may not be enough to offset the negative outlook.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100