Upstart Holdings, Inc. (UPST - Free Report) shares soared 8.3% in the last trading session to close at $58.40. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 61.6% gain over the past four weeks.
Upstart extended its rally, driven by growing partner network. The company’s artificial intelligence (AI)-based lending platform has been selected by several banks and credit unions which is contributing well to the company’s top line. Investors seems to be also very optimistic about recent launches across Upstart’s product portfolio powered by generative AI and machine learning which might favor the company’s performance in the long-run.
This company is expected to post quarterly loss of $0.05 per share in its upcoming report, which represents a year-over-year change of -600%. Revenues are expected to be $133.89 million, down 41.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Upstart Holdings, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on UPST going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Upstart Holdings, Inc. is a member of the Zacks Computers - IT Services industry. One other stock in the same industry, Wix.com (WIX - Free Report) , finished the last trading session 6.1% higher at $92.33. WIX has returned 9.3% over the past month.
Wix.com's consensus EPS estimate for the upcoming report has changed +12.4% over the past month to $0.56. Compared to the company's year-ago EPS, this represents a change of +500%. Wix.com currently boasts a Zacks Rank of #3 (Hold).
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Upstart Holdings, Inc. (UPST - Free Report) shares soared 8.3% in the last trading session to close at $58.40. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 61.6% gain over the past four weeks.
Upstart extended its rally, driven by growing partner network. The company’s artificial intelligence (AI)-based lending platform has been selected by several banks and credit unions which is contributing well to the company’s top line. Investors seems to be also very optimistic about recent launches across Upstart’s product portfolio powered by generative AI and machine learning which might favor the company’s performance in the long-run.
This company is expected to post quarterly loss of $0.05 per share in its upcoming report, which represents a year-over-year change of -600%. Revenues are expected to be $133.89 million, down 41.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Upstart Holdings, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on UPST going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Upstart Holdings, Inc. is a member of the Zacks Computers - IT Services industry. One other stock in the same industry, Wix.com (WIX - Free Report) , finished the last trading session 6.1% higher at $92.33. WIX has returned 9.3% over the past month.
Wix.com's consensus EPS estimate for the upcoming report has changed +12.4% over the past month to $0.56. Compared to the company's year-ago EPS, this represents a change of +500%. Wix.com currently boasts a Zacks Rank of #3 (Hold).
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.2% per year. So be sure to give these hand picked 7 your immediate attention.
See them now >>
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