Upstart (UPST) Scheduled to Post Quarterly Earnings on Tuesday

Upstart (NASDAQ:UPST) will be releasing its earnings data after the market closes on Tuesday, May 7th. Analysts expect Upstart to post earnings of ($0.38) per share for the quarter. Upstart has set its Q1 2024 guidance at EPS.Persons that are interested in registering for the company’s earnings 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 (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 46.76% and a negative return on equity of 35.47%. On average, analysts expect Upstart to post $-2 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Upstart Stock Performance

NASDAQ: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 one year low of $12.01 and a one year high of $72.58. The stock has a 50-day simple moving average of $24.76 and a 200 day simple moving average of $29.19.

Insider Activity at Upstart

In other news, CFO Sanjay Datta sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $33.84, for a total transaction of $33,840.00. Following the completion of the transaction, the chief financial officer now directly owns 354,090 shares in the company, valued at $11,982,405.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Sanjay Datta sold 1,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $33.84, for a total transaction of $33,840.00. Following the transaction, the chief financial officer now directly owns 354,090 shares of the company’s stock, valued at $11,982,405.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Paul Gu sold 60,000 shares of Upstart stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $26.31, for a total transaction of $1,578,600.00. Following the sale, the chief technology officer now owns 893,596 shares in the company, valued at $23,510,510.76. The disclosure for this sale can be found here. Insiders have sold a total of 66,419 shares of company stock worth $1,750,272 in the last ninety days. 18.06% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

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.