Upstart (NASDAQ:UPST) Releases Q2 2021 Earnings Guidance

Upstart (NASDAQ:UPST) updated its second quarter 2021 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.220-0.260 for the period, compared to the Thomson Reuters consensus estimate of $0.110. The company issued revenue guidance of $150 million-160 million, compared to the consensus revenue estimate of $117.13 million.Upstart also updated its FY 2021 guidance to $- EPS.

Shares of Upstart stock traded down $10.84 on Friday, hitting $135.58. The company’s stock had a trading volume of 48,676 shares, compared to its average volume of 2,783,629. Upstart has a 1 year low of $22.61 and a 1 year high of $191.89. The firm’s fifty day moving average is $123.51.

Upstart (NASDAQ:UPST) last announced its quarterly earnings results on Tuesday, May 11th. The company reported $0.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.07. The business had revenue of $121.35 million during the quarter, compared to analysts’ expectations of $116.16 million. During the same quarter in the prior year, the firm earned $0.05 EPS. Upstart’s revenue for the quarter was up 89.6% on a year-over-year basis. Sell-side analysts anticipate that Upstart will post 0.31 earnings per share for the current fiscal year.

UPST has been the subject of several recent analyst reports. Zacks Investment Research lowered Upstart from a buy rating to a hold rating in a research note on Saturday, May 1st. Piper Sandler lifted their price objective on Upstart from $143.00 to $152.00 and gave the stock an overweight rating in a report on Wednesday, May 12th. JMP Securities lifted their price objective on Upstart from $149.00 to $190.00 and gave the stock a market outperform rating in a report on Monday. Bank of America upgraded Upstart from a neutral rating to a buy rating and lifted their price objective for the stock from $57.00 to $135.00 in a report on Thursday, March 18th. Finally, Barclays lifted their price objective on Upstart from $58.00 to $110.00 and gave the stock an equal weight rating in a report on Monday, March 22nd. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $106.11.

About Upstart

Upstart Holdings, Inc operates a cloud- based artificial intelligence (AI) lending platform. The company's platform aggregates consumer demand for loans and connects it to its network of the company's AI- enabled bank partners. Its platform connects consumers, banks, and institutional investors through a shared AI lending platform.

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Earnings History and Estimates for Upstart (NASDAQ:UPST)

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