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Upstart Holdings, Inc. (UPST) Laps the Stock Market: Here's Why
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Upstart Holdings, Inc. (UPST - Free Report) closed the latest trading day at $26.11, indicating a +1.36% change from the previous session's end. The stock exceeded the S&P 500, which registered a gain of 1.11% for the day. At the same time, the Dow added 1.64%, and the tech-heavy Nasdaq gained 1.03%.
Shares of the company witnessed a gain of 9.11% over the previous month, beating the performance of the Computer and Technology sector with its loss of 5.32% and the S&P 500's loss of 1.16%.
The investment community will be paying close attention to the earnings performance of Upstart Holdings, Inc. in its upcoming release. The company is slated to reveal its earnings on August 6, 2024. The company's earnings per share (EPS) are projected to be -$0.39, reflecting a 750% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $125.16 million, down 7.81% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.95 per share and revenue of $538.81 million, indicating changes of -69.64% and +4.92%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Upstart Holdings, Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.25% downward. Upstart Holdings, Inc. is currently sporting a Zacks Rank of #4 (Sell).
The Computers - IT Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 93, placing it within the top 37% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Upstart Holdings, Inc. (UPST) Laps the Stock Market: Here's Why
Upstart Holdings, Inc. (UPST - Free Report) closed the latest trading day at $26.11, indicating a +1.36% change from the previous session's end. The stock exceeded the S&P 500, which registered a gain of 1.11% for the day. At the same time, the Dow added 1.64%, and the tech-heavy Nasdaq gained 1.03%.
Shares of the company witnessed a gain of 9.11% over the previous month, beating the performance of the Computer and Technology sector with its loss of 5.32% and the S&P 500's loss of 1.16%.
The investment community will be paying close attention to the earnings performance of Upstart Holdings, Inc. in its upcoming release. The company is slated to reveal its earnings on August 6, 2024. The company's earnings per share (EPS) are projected to be -$0.39, reflecting a 750% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $125.16 million, down 7.81% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.95 per share and revenue of $538.81 million, indicating changes of -69.64% and +4.92%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Upstart Holdings, Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.25% downward. Upstart Holdings, Inc. is currently sporting a Zacks Rank of #4 (Sell).
The Computers - IT Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 93, placing it within the top 37% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.