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Upstart Holdings, Inc. (UPST) Stock Declines While Market Improves: Some Information for Investors
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Upstart Holdings, Inc. (UPST - Free Report) ended the recent trading session at $33.90, demonstrating a -1.19% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 0.57% for the day. Meanwhile, the Dow lost 0.14%, and the Nasdaq, a tech-heavy index, added 1.25%.
Shares of the company witnessed a gain of 3.25% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 10.16% and the S&P 500's gain of 5.07%.
Market participants will be closely following the financial results of Upstart Holdings, Inc. in its upcoming release. The company plans to announce its earnings on February 13, 2024. On that day, Upstart Holdings, Inc. is projected to report earnings of -$0.15 per share, which would represent year-over-year growth of 40%. Meanwhile, our latest consensus estimate is calling for revenue of $135.28 million, down 7.92% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Upstart Holdings, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 11.75% lower. Right now, Upstart Holdings, Inc. possesses a Zacks Rank of #4 (Sell).
From a valuation perspective, Upstart Holdings, Inc. is currently exchanging hands at a Forward P/E ratio of 447.52. This represents a premium compared to its industry's average Forward P/E of 27.92.
The Computers - IT Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 162, positioning it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow UPST in the coming trading sessions, be sure to utilize Zacks.com.
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Upstart Holdings, Inc. (UPST) Stock Declines While Market Improves: Some Information for Investors
Upstart Holdings, Inc. (UPST - Free Report) ended the recent trading session at $33.90, demonstrating a -1.19% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 0.57% for the day. Meanwhile, the Dow lost 0.14%, and the Nasdaq, a tech-heavy index, added 1.25%.
Shares of the company witnessed a gain of 3.25% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 10.16% and the S&P 500's gain of 5.07%.
Market participants will be closely following the financial results of Upstart Holdings, Inc. in its upcoming release. The company plans to announce its earnings on February 13, 2024. On that day, Upstart Holdings, Inc. is projected to report earnings of -$0.15 per share, which would represent year-over-year growth of 40%. Meanwhile, our latest consensus estimate is calling for revenue of $135.28 million, down 7.92% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Upstart Holdings, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 11.75% lower. Right now, Upstart Holdings, Inc. possesses a Zacks Rank of #4 (Sell).
From a valuation perspective, Upstart Holdings, Inc. is currently exchanging hands at a Forward P/E ratio of 447.52. This represents a premium compared to its industry's average Forward P/E of 27.92.
The Computers - IT Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 162, positioning it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow UPST in the coming trading sessions, be sure to utilize Zacks.com.