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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 $27.65, demonstrating a -0.5% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 1.08%. On the other hand, the Dow registered a gain of 0.32%, and the technology-centric Nasdaq increased by 1.58%.

Coming into today, shares of the company had gained 28.42% in the past month. In that same time, the Computer and Technology sector lost 4.77%, while the S&P 500 gained 0.43%.

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 August 6, 2024. The company's upcoming EPS is projected at -$0.39, signifying a 750% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $125.16 million, down 7.81% from the year-ago period.

For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.95 per share and a revenue of $538.81 million, signifying shifts of -69.64% and +4.92%, respectively, from the last year.

It is also important to note the recent changes to analyst estimates for Upstart Holdings, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.25% downward. Upstart Holdings, Inc. presently features a Zacks Rank of #4 (Sell).

The Computers - IT Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 89, this industry ranks in the top 36% of all industries, numbering over 250.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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