Upstart (UPST) Scheduled to Post Quarterly Earnings on Thursday

Upstart (NASDAQ:UPST - Get Free Report) is scheduled to be announcing its earnings results after the market closes on Thursday, November 7th. Analysts expect the company to announce earnings of ($0.14) per share for the quarter. Upstart has set its Q3 2024 guidance at EPS.Parties interested in listening to the company's conference call can do so using this link.

Upstart (NASDAQ:UPST - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.17) earnings per share for the quarter, topping analysts' consensus estimates of ($0.39) by $0.22. The business had revenue of $127.63 million for the quarter, compared to analysts' expectations of $124.55 million. Upstart had a negative return on equity of 32.01% and a negative net margin of 38.05%. The business's quarterly revenue was down 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.34) EPS. On average, analysts expect Upstart to post $-2 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Upstart Price Performance

UPST stock traded down $2.45 on Thursday, reaching $48.68. The company's stock had a trading volume of 3,459,859 shares, compared to its average volume of 6,638,655. Upstart has a 52 week low of $19.84 and a 52 week high of $57.40. The company has a market capitalization of $4.36 billion, a P/E ratio of -20.80 and a beta of 2.01. The firm has a fifty day moving average of $42.98 and a two-hundred day moving average of $31.99.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Needham & Company LLC reissued a "hold" rating on shares of Upstart in a report on Thursday, August 8th. Piper Sandler increased their price objective on Upstart from $28.00 to $31.00 and gave the stock a "neutral" rating in a report on Wednesday, August 7th. Barclays increased their price objective on Upstart from $25.00 to $35.00 and gave the stock an "equal weight" rating in a report on Monday, August 12th. Mizuho increased their price target on Upstart from $33.00 to $48.00 and gave the company an "outperform" rating in a research note on Friday, September 20th. Finally, Citigroup raised Upstart from a "sell" rating to a "neutral" rating and increased their price target for the company from $15.00 to $33.00 in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, Upstart presently has a consensus rating of "Hold" and an average target price of $31.50.

Insider Transactions at Upstart

In other news, insider Scott Darling sold 84,000 shares of the firm's stock in a transaction on Monday, October 14th. The stock was sold at an average price of $50.02, for a total transaction of $4,201,680.00. Following the completion of the sale, the insider now directly owns 152,043 shares of the company's stock, valued at $7,605,190.86. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Scott Darling sold 84,000 shares of the firm's stock in a transaction on Monday, October 14th. The stock was sold at an average price of $50.02, for a total transaction of $4,201,680.00. Following the completion of the sale, the insider now directly owns 152,043 shares of the company's stock, valued at $7,605,190.86. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Natalia Mirgorodskaya sold 1,264 shares of the firm's stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $38.36, for a total value of $48,487.04. Following the sale, the insider now directly owns 24,557 shares of the company's stock, valued at approximately $942,006.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 313,959 shares of company stock valued at $13,745,155 in the last three months. 18.06% of the stock is currently owned by corporate insiders.

About Upstart

Upstart Holdings, Inc, together with its subsidiaries, operates a cloud-based artificial intelligence (AI) lending platform in the United States. Its platform includes personal loans, automotive retail and refinance loans, home equity lines of credit, and small dollar loans that connects consumer demand for loans to its to bank and credit unions.