Upstart (NASDAQ:UPST) Issues Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Upstart (NASDAQ:UPST) announced its earnings results on Tuesday. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.13, FiscalAI reports. The firm had revenue of $370.52 million during the quarter, compared to analyst estimates of $362.68 million. Upstart had a net margin of 4.84% and a return on equity of 7.13%. The company’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.23 EPS.

Upstart Price Performance

Upstart stock opened at $21.31 on Tuesday. The company has a market cap of $2.07 billion, a price-to-earnings ratio of 43.49, a P/E/G ratio of 0.85 and a beta of 2.43. The firm has a 50-day moving average of $25.15 and a 200-day moving average of $29.89. Upstart has a one year low of $20.97 and a one year high of $52.10.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Citigroup reissued a “market underperform” rating on shares of Upstart in a research note on Thursday, October 15th. The Goldman Sachs Group reduced their price objective on Upstart from $39.00 to $28.00 and set a “neutral” rating for the company in a research report on Tuesday, October 13th. Loop Capital initiated coverage on Upstart in a report on Tuesday, September 8th. They set a “hold” rating and a $34.00 price objective for the company. Piper Sandler lifted their target price on Upstart from $46.00 to $51.00 and gave the company an “overweight” rating in a research report on Wednesday, August 5th. Finally, Wall Street Zen upgraded Upstart from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $42.94.

Insider Buying and Selling

In related news, CFO Andrea Blankmeyer sold 3,000 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $29.33, for a total transaction of $87,990.00. Following the sale, the chief financial officer owned 152,208 shares in the company, valued at approximately $4,464,260.64. This represents a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Sanjay Datta sold 116,000 shares of the company’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $27.29, for a total value of $3,165,640.00. Following the sale, the insider owned 476,578 shares in the company, valued at $13,005,813.62. The trade was a 19.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 148,652 shares of company stock worth $4,133,720 in the last three months. Insiders own 17.29% of the company’s stock.

About Upstart

Upstart Holdings, Inc (NASDAQ: UPST) operates an artificial intelligence-powered lending marketplace. Its platform connects consumers seeking credit with banks and credit unions, using data-driven underwriting models designed to evaluate applicants beyond traditional credit-score-based methods.

The company provides technology for several lending categories, including personal loans, automotive retail and refinance lending, home equity lines of credit, and small-dollar lending. Upstart’s platform supports financial institutions with application processing, risk assessment, loan origination, and related automation, while offering consumers a digital borrowing experience.

Founded in 2012, Upstart is headquartered in San Mateo, California, and primarily serves the United States.