Streetbeat News

UPST

Upstart Holdings, Inc.

https://www.upstart.com

Industry

Financial - Credit Services

Upstart Holdings, Inc., together with its subsidiaries, operates a cloud-based artificial intelligence (AI) lending platform in the United States. Its platform aggregates consumer demand for loans and connects it to its network of the company's AI-enabled bank partners. The company was founded in 2012 and is headquartered in San Mateo, California.

Open

67.68

Mkt cap

6.2B

Volume

6.5M

High

69.65

P/E Ratio

-35.79

52-wk high

86.07

Low

64.60

Div yield

N/A

52-wk low

20.60

Upstart Holdings, Inc. (UPST) shares fell by 10.3% after reporting Q1 financial results and issuing Q2 revenue guidance below estimates. Other stocks showed significant movement, with Reborn Coffee, Inc. (REBN) leading gainers with a 132.9% jump after announcing a market expansion into China. On the losing end, Treace Medical Concepts, Inc. (TMCI) dropped 60.8% after issuing FY24 revenue guidance below estimates.

Portfolio Pulse from Avi Kapoor

May 08, 2024 | 5:38 pm

Wedbush analyst David Chiaverini has reiterated an Underperform rating on Upstart Holdings (UPST) and maintained a price target of $10. This reaffirmation of the negative outlook suggests skepticism about UPST's near-term prospects.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 1:50 pm

RingCentral, Inc. (NYSE:RNG) shares surged 13.4% in pre-market trading after reporting Q1 financial results that exceeded expectations and raising FY24 guidance. Other stocks also showed significant movement in pre-market trading, with notable gainers including Repare Therapeutics Inc., Neo-Concept International Group Holdings Limited, and losers such as Treace Medical Concepts, Inc., and DoubleVerify Holdings, Inc. due to various financial results and guidance updates.

Portfolio Pulse from Avi Kapoor

May 08, 2024 | 12:07 pm

Needham analyst Kyle Peterson has reiterated a Hold rating on Upstart Holdings (NASDAQ:UPST), maintaining the firm's stance on the stock.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 11:05 am

Upstart Holdings' shares declined following the announcement of Q1 financial results and Q2 revenue guidance that fell short of expectations.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 10:14 am

Flywire Corporation reported a Q1 loss and issued Q2 revenue guidance below estimates, leading to a 14.1% drop in pre-market trading. Other companies like Treace Medical Concepts, DoubleVerify Holdings, ZoomInfo Technologies, Inspire Medical Systems, and several others also reported disappointing financial results or guidance, resulting in significant pre-market trading losses.

Portfolio Pulse from Avi Kapoor

May 08, 2024 | 10:05 am

In the after-hours trading update, Upstart Holdings provided guidance below market estimates, causing concern among investors. Meanwhile, Reddit reported strong Q1 earnings, leading to a surge in its stock price. Wynn Resorts also exceeded market expectations with its earnings report, potentially boosting investor confidence.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 9:04 pm

Upstart Holdings' shares declined following the announcement of Q1 financial results and Q2 revenue guidance that fell short of expectations.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 8:40 pm

Trading for UPST was halted and then resumed at 4:30 PM ET, with updates on quotation resumption times provided.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 8:30 pm

Upstart Holdings Inc (NASDAQ:UPST) reported Q1 earnings with revenue of $128 million, surpassing estimates and achieving a 24% year-over-year increase but a 9% sequential decrease. The company beat EPS estimates with an adjusted loss of 31 cents per share. Loan originations rose 13% year-over-year to 119,380, totaling $1.1 billion. Upstart anticipates sequential growth in H2 and positive EBITDA by year-end. Q2 revenue is expected to be around $125 million, below estimates, with a projected adjusted EBITDA loss of $25 million.

Portfolio Pulse from Adam Eckert

May 07, 2024 | 8:27 pm

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