Upstart (NASDAQ:UPST) Releases Q2 2022 Earnings Guidance

Posted by on Jun 6th, 2022

Upstart (NASDAQ:UPST – Get Rating) issued an update on its second quarter 2022 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.29-$0.31 for the period, compared to the consensus estimate of $0.54. The company issued revenue guidance of $295.00 million-$305.00 million, compared to the consensus revenue estimate of $334.81 million.Upstart also updated its FY 2022 guidance to EPS.

Shares of NASDAQ:UPST opened at $50.46 on Monday. The company’s fifty day moving average price is $72.04 and its 200 day moving average price is $112.41. Upstart has a 12 month low of $25.43 and a 12 month high of $401.49. The firm has a market capitalization of $4.28 billion, a P/E ratio of 29.60 and a beta of 1.23.

Upstart (NASDAQ:UPST – Get Rating) last announced its quarterly earnings results on Monday, May 9th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.53 by $0.08. Upstart had a net margin of 15.23% and a return on equity of 20.27%. The firm had revenue of $310.14 million for the quarter, compared to analyst estimates of $300.13 million. During the same period last year, the business earned $0.12 EPS. Upstart’s revenue for the quarter was up 155.6% compared to the same quarter last year. Research analysts anticipate that Upstart will post 0.68 EPS for the current fiscal year.

A number of analysts recently commented on UPST shares. Morgan Stanley decreased their price objective on shares of Upstart from $115.00 to $88.00 in a report on Wednesday, May 4th. Loop Capital assumed coverage on shares of Upstart in a research report on Tuesday, April 5th. They issued a buy rating and a $140.00 price objective for the company. The Goldman Sachs Group lowered shares of Upstart from a buy rating to a neutral rating and cut their price objective for the company from $250.00 to $40.00 in a research report on Tuesday, May 10th. Piper Sandler lowered shares of Upstart from an overweight rating to a neutral rating and dropped their price target for the stock from $230.00 to $44.00 in a research report on Tuesday, May 10th. Finally, Barclays lowered shares of Upstart from an overweight rating to an equal weight rating and set a $35.00 price target for the company. in a research report on Wednesday, May 11th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, Upstart currently has a consensus rating of Hold and a consensus price target of $114.00.

In other news, CEO Dave Girouard sold 41,667 shares of the business’s stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $80.00, for a total transaction of $3,333,360.00. Following the completion of the transaction, the chief executive officer now directly owns 87,114 shares in the company, valued at approximately $6,969,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Alison Nicoll sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $104.38, for a total value of $782,850.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 208,383 shares of company stock worth $19,752,733. 18.87% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its holdings in shares of Upstart by 5.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,447 shares of the company’s stock worth $522,000 after purchasing an additional 164 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in Upstart in the fourth quarter valued at about $26,000. Guggenheim Capital LLC raised its position in shares of Upstart by 18.0% during the first quarter. Guggenheim Capital LLC now owns 2,101 shares of the company’s stock worth $229,000 after acquiring an additional 320 shares during the last quarter. Toroso Investments LLC raised its position in shares of Upstart by 17.9% during the fourth quarter. Toroso Investments LLC now owns 2,208 shares of the company’s stock worth $334,000 after acquiring an additional 335 shares during the last quarter. Finally, Salem Investment Counselors Inc. raised its position in shares of Upstart by 50.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 1,050 shares of the company’s stock worth $159,000 after acquiring an additional 350 shares during the last quarter. Institutional investors and hedge funds own 59.65% of the company’s stock.

Upstart Company Profile (Get Rating)

Upstart Holdings, Inc operates a cloud- based artificial intelligence (AI) lending platform in the United States. The company's platform aggregates consumer demand for loans and connects it to its network of the company's AI- enabled bank partners. Its platform connects consumers, banks, and institutional investors through a shared AI lending platform.

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Earnings History and Estimates for Upstart (NASDAQ:UPST)

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