Equities research firm Wedbush has revised its earnings estimates for Upstart Holdings, Inc. (NASDAQ: UPST) for the fiscal year 2024. In a research note issued to investors on Monday, October 14th, Wedbush analyst D. Chiaverini stated that the company is now expected to earn ($2.28) per share for the year, down from the previous estimate of ($2.26). Wedbush currently maintains a “Neutral” rating and a $45.00 price target on the stock. The consensus estimate for Upstart’s current full-year earnings stands at ($2.39) per share.
Furthermore, Wedbush provided estimates for Upstart’s earnings in subsequent quarters and fiscal years. These include Q4 2024 earnings at ($0.35) EPS, Q1 2025 earnings at ($0.41) EPS, Q2 2025 earnings at ($0.27) EPS, Q3 2025 earnings at ($0.12) EPS, Q4 2025 earnings at $0.09 EPS, FY2025 earnings at ($0.70) EPS, and FY2026 earnings at $0.11 EPS.
Upstart last reported its quarterly earnings data on Tuesday, August 6th. The company exceeded expectations, reporting ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.22. Upstart’s revenue for the quarter was $127.63 million, surpassing analysts’ expectations of $124.55 million. However, the company’s revenue was down 6.0% compared to the same quarter last year. Upstart had a negative net margin of 38.05% and a negative return on equity of 32.01%.
Upstart’s stock opened at $52.05 on Wednesday, with a 1-year low of $19.84 and a 1-year high of $57.40. The company has a market cap of $4.66 billion, a price-to-earnings ratio of -22.24, and a beta of 2.01. Its 50-day moving average is $40.29, and the 200-day moving average is $30.19.
Institutional investors have shown interest in Upstart, with Indiana Trust & Investment Management Co and Anfield Capital Management LLC recently acquiring positions in the company. Benjamin F. Edwards & Company Inc. and GAMMA Investing LLC also increased their holdings, while Comerica Bank added to its stake. Institutional investors now own 63.01% of Upstart’s stock.
Regarding insider trading, CEO Dave Girouard sold 3,361 shares of Upstart’s stock on Tuesday, August 20th, at an average price of $38.35, totaling $128,894.35. Following this sale, Girouard’s ownership of the stock decreased by 0.00%. CTO Paul Gu also sold 20,000 shares on Monday, October 14th, at an average price of $50.26, amounting to $1,005,200.00. After the transaction, Gu’s ownership of the stock decreased by 0.00%. Insiders have sold a total of 312,959 shares valued at $13,641,350 over the last quarter. Insiders now own 18.06% of the company’s stock.
Upstart Holdings, Inc. operates a cloud-based AI lending platform in the United States, connecting consumer loan demand to banks and credit unions. The platform offers personal loans, automotive retail and refinance loans, home equity lines of credit, and small dollar loans.