We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Upstart Holdings, Inc. (UPST) Surges 8.3%: Is This an Indication of Further Gains?
Read MoreHide Full Article
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.
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).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Upstart Holdings, Inc. (UPST) Surges 8.3%: Is This an Indication of Further Gains?
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).