Upstart (UPST) to Release Earnings on Tuesday

Upstart (NASDAQ:UPST) will be announcing its earnings results after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of ($0.38) per share for the quarter. Upstart has set its Q1 2024 guidance at EPS.Investors interested in participating in the company’s conference call can do so using this link.

Upstart (NASDAQ:UPST) last issued its earnings results on Tuesday, February 13th. The company reported ($0.51) earnings per share for the quarter, topping the consensus estimate of ($0.56) by $0.05. The business had revenue of $140.31 million for the quarter, compared to analyst estimates of $135.28 million. Upstart had a negative return on equity of 35.47% and a negative net margin of 46.76%. On average, analysts expect Upstart to post $-2 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Upstart Stock Up 2.7 %

Shares of UPST opened at $24.15 on Friday. The company has a market capitalization of $2.12 billion, a price-to-earnings ratio of -8.33 and a beta of 2.01. Upstart has a 52-week low of $12.01 and a 52-week high of $72.58. The stock has a 50 day moving average price of $24.76 and a 200 day moving average price of $29.19.

Insider Buying and Selling

In other news, insider Natalia Mirgorodskaya sold 1,919 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $24.30, for a total value of $46,631.70. Following the completion of the sale, the insider now owns 28,246 shares in the company, valued at approximately $686,377.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Sanjay Datta sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $27.50, for a total value of $27,500.00. Following the completion of the sale, the chief financial officer now directly owns 400,536 shares of the company’s stock, valued at approximately $11,014,740. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Natalia Mirgorodskaya sold 1,919 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $24.30, for a total value of $46,631.70. Following the transaction, the insider now directly owns 28,246 shares in the company, valued at approximately $686,377.80. The disclosure for this sale can be found here. Insiders sold a total of 66,419 shares of company stock valued at $1,750,272 over the last three months. 18.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of Upstart from $26.00 to $24.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 14th. Bank of America assumed coverage on Upstart in a research report on Thursday, April 4th. They set an “underperform” rating and a $22.00 target price on the stock. Piper Sandler reissued a “neutral” rating and issued a $28.00 target price on shares of Upstart in a research report on Tuesday, March 19th. Mizuho lifted their price target on Upstart from $19.00 to $23.00 and gave the stock an “underperform” rating in a research report on Thursday, January 18th. Finally, JMP Securities reiterated a “market perform” rating on shares of Upstart in a research note on Wednesday, April 17th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Upstart currently has a consensus rating of “Hold” and a consensus target price of $26.00.

Upstart Company Profile

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.