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Here's Why Upstart Holdings, Inc. (UPST) Fell More Than Broader Market
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Upstart Holdings, Inc. (UPST - Free Report) closed the latest trading day at $24.37, indicating a -1.3% change from the previous session's end. This change lagged the S&P 500's 0.17% loss on the day. Elsewhere, the Dow saw a downswing of 0.58%, while the tech-heavy Nasdaq appreciated by 0.27%.
The the stock of company has fallen by 7.01% in the past month, lagging the Computer and Technology sector's loss of 2.16% and the S&P 500's loss of 3.95%.
The investment community will be closely monitoring the performance of Upstart Holdings, Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on November 7, 2023. In that report, analysts expect Upstart Holdings, Inc. to post earnings of -$0.02 per share. This would mark year-over-year growth of 91.67%. Our most recent consensus estimate is calling for quarterly revenue of $139.69 million, down 11.16% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.35 per share and revenue of $533.48 million, which would represent changes of -266.67% and -36.67%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Upstart Holdings, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.69% rise in the Zacks Consensus EPS estimate. Upstart Holdings, Inc. currently has a Zacks Rank of #1 (Strong Buy).
The Computers - IT Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 31, placing it within the top 13% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Here's Why Upstart Holdings, Inc. (UPST) Fell More Than Broader Market
Upstart Holdings, Inc. (UPST - Free Report) closed the latest trading day at $24.37, indicating a -1.3% change from the previous session's end. This change lagged the S&P 500's 0.17% loss on the day. Elsewhere, the Dow saw a downswing of 0.58%, while the tech-heavy Nasdaq appreciated by 0.27%.
The the stock of company has fallen by 7.01% in the past month, lagging the Computer and Technology sector's loss of 2.16% and the S&P 500's loss of 3.95%.
The investment community will be closely monitoring the performance of Upstart Holdings, Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on November 7, 2023. In that report, analysts expect Upstart Holdings, Inc. to post earnings of -$0.02 per share. This would mark year-over-year growth of 91.67%. Our most recent consensus estimate is calling for quarterly revenue of $139.69 million, down 11.16% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.35 per share and revenue of $533.48 million, which would represent changes of -266.67% and -36.67%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Upstart Holdings, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.69% rise in the Zacks Consensus EPS estimate. Upstart Holdings, Inc. currently has a Zacks Rank of #1 (Strong Buy).
The Computers - IT Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 31, placing it within the top 13% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.