Shares of online lending marketplace Upstart Holdings (UPST - Free Report) soared on Thursday after posting better-than-expected fourth quarter results. UPST closed up 89.3% to $115.09 per share.
For Q4, revenue rose 39% year-over-year, lending volume jumped 57% to almost 123,400, and full-year 2020 adjusted earnings hit $0.23 per share compared to a loss in 2019.
2021 could be another big year for Upstart. The lender expects revenue to more than double 2020’s figure and Q1 earnings are anticipated to move higher on a sequential basis. Much of this growth will come from its just-announced acquisition of Prodigy Software, which will help UPST move into the auto loan market.
UPST was also upgraded to Outperform from Market Perform at JMP Securities. Analyst Ronald Josey is positive on Upstart’s market share gains potential, accelerating loan requests, and expanding bank partnerships.
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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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Shares of online lending marketplace Upstart Holdings (UPST - Free Report) soared on Thursday after posting better-than-expected fourth quarter results. UPST closed up 89.3% to $115.09 per share.
For Q4, revenue rose 39% year-over-year, lending volume jumped 57% to almost 123,400, and full-year 2020 adjusted earnings hit $0.23 per share compared to a loss in 2019.
2021 could be another big year for Upstart. The lender expects revenue to more than double 2020’s figure and Q1 earnings are anticipated to move higher on a sequential basis. Much of this growth will come from its just-announced acquisition of Prodigy Software, which will help UPST move into the auto loan market.
UPST was also upgraded to Outperform from Market Perform at JMP Securities. Analyst Ronald Josey is positive on Upstart’s market share gains potential, accelerating loan requests, and expanding bank partnerships.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
AccessZacks Top 10 Stocks for 2021 today >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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