So you may wish to see this free collection of other companies that have reasonable P/E ratios and have grown earnings strongly. This week brings a much quieter week on the earnings front, but we still have a some key stocks set to report. Upstart (UPST) raised $252 million in an initial public offering (IPO) on Wednesday, December 16th 2020.
Upstart Q2 Earnings: Not In Favor Of Its Post-Earnings Rally
The company issued 12,000,000 shares at a price of $20.00-$22.00 per share. Goldman Sachs, BofA Securities and Citigroup served as the underwriters for the IPO and Jefferies, Barclays, JMP Securities and Blaylock Van were co-managers. Upstart Holdings’ stock fell 6% after presenting Q1 financial results, but sales growth returned and a favorable change in fundamentals is expected. Sales in Q1 grew 24% YoY to $127.8 million, and fee… Upstart Holdings’ share price has rebounded over 60% in the last three months, putting it in the green for 2024.
Digging In on the Latest News From Airbnb and Upstart
Despite meager growth forecasts from analysts, Upstart… Upstart Holdings uses AI for lending decisions, but a lack of historical data through a recession makes it unproven against traditional credit models. UPST reported better-than-expected second-quarter financial results and issued third-quarter revenue guidance above estimates on Tuesday.
Upstart Can Move Higher On Short Interest, Efficiency Gains
Upstart (UPST) stock has continued to struggle this year, benefiting investors who have shorted the company. It has dropped by more than 34% this year while the Nasdaq 100 and S&P 500 indices have ris… With this in mind, it’s not hard to understand why Upstart Holdings’ P/S is high relative to its industry peers. Apparently shareholders aren’t keen to offload something that is potentially xcritical eyeing a more prosperous future. In order to justify its P/S ratio, Upstart Holdings would need to produce outstanding growth that’s well in excess of the industry.
Short interest in Upstart is high, potentially leading to a short squeeze that could dr… According to 13 analysts, the average rating for UPST stock is “Sell.” The 12-month stock price forecast is $25.14, which is a decrease of -37.51% from the latest price. Top institutional investors of Upstart include IMC Chicago LLC, Fred Alger Management LLC (0.56%), Bank of Montreal Can (0.51%) and Marshall Wace LLP (0.41%).
In 2017 it became the first to receive a No Action Letter from the Consumer Financial Protection Bureau. The purpose of the No Action Letter is to prevent unnecessary legal actions from impeding a business that offers benefits to consumers. Here are some of the top stories around the financial sector that investors need to know. The business is still struggling, but results were better than expected.
- MINNEAPOLIS , June 20, 2024 /PRNewswire/ — Castlelake, L.P.
- In order to justify its P/S ratio, Upstart Holdings would need to produce outstanding growth that’s well in excess of the industry.
- The all-digital AI-enabled lending platform will increase loan requests, and approvals, and increase customer satisfaction at the same time.
- Together, with its subsidiaries, Upstart Holdings operates a cloud-based artificial intelligence (AI) lending platform in the United States.
You have already added five stocks to your watchlist. Upgrade to MarketBeat All Access to add more stocks to your watchlist. Upstart has worked diligently with regulators since its founding to ensure it remains compliant with regulations and safe for consumers.
Although, it’s not wise to just take the P/S at face value as there may be an explanation why it’s so lofty. The company’s mission is to enable effortless credit based on the true risk of the individual. The business is built on the belief that access to credit is fundamental to unlocking opportunities and upward mobility. With 80% of Americans having never defaulted on a loan, the 48% approval rate is far too low. Upstart’s Q1 earnings beat expectations on both the top and bottom lines.
Highlights important summary options statistics to provide a forward looking indication of investors’ sentiment. The Barchart Technical Opinion rating is a 72% Buy with a Strongest short term outlook on maintaining the current direction. Sign-up to receive the latest news and ratings for Upstart and its competitors with MarketBeat’s FREE daily newsletter. MINNEAPOLIS , June 20, 2024 /PRNewswire/ — Castlelake, L.P.
Lenders can enhance their businesses by partnering with Upstart Holdings. The all-digital AI-enabled lending platform will increase loan requests, and approvals, and increase customer satisfaction at the same time. Automobile retailers can also benefit from the program by offering Upstart-powered financing solutions at the point of sale or within their omnichannel experience.
We’ve established that Upstart Holdings maintains its high P/S on the strength of its forecasted revenue growth being higher than the the rest of the Consumer Finance industry, as expected. Right now shareholders are comfortable with the P/S as they are quite confident future revenues aren’t under threat. It’s hard to see the share price falling strongly in the near future under these circumstances.
The company’s revenue base showed a solid 24% Y/Y growth in Q1. Personal loans, in both volume and transaction dollars, have s… Private credit lender Castlelake will buy up to $1.2 billion in consumer installment loans from fintech firm Upstart to expand its foothold in the retail lending space, it said on Thursday. Of course, profitable companies with a history of great earnings growth are generally safer bets.
We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your xcritical objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Recent times haven’t been great for Upstart Holdings as its revenue has been rising slower than most other companies. Perhaps the market is expecting future revenue performance to undergo a reversal of fortunes, which has elevated the P/S ratio. If not, then existing shareholders may be very nervous about the viability of the share price. Upstart Holdings, Inc. UPST shares are jumping today after it reported better-than-expected second-quarter financial results and issued third-quarter revenue guidance above estimates yesterday. Upstart provides a lending platform that uses a unique proprietary model driven by artificial intelligence to determine a borrower’s creditworthiness.
Upstart Holdings Inc. released its Q earnings, leading to a 40% jump in share price, fuelled by operational improvements. The company has shown progress in its AI-based credit decision models, l… The strong share price surge has lead to Upstart Holdings’ P/S soaring as well. While the price-to-sales ratio shouldn’t be the defining factor in whether you buy a stock or not, it’s quite a capable barometer of revenue expectations.
(“Castlelake”), a global alternative investment manager specializing in asset-based private credit investments, has reached an agreement to… Get stock recommendations, portfolio guidance, and more from The Motley Fool’s premium services. Upstart Holdings continued to report financial challenges, but improved guidance for Q3 offered hope of a return to profitability. Our new AI Stock Screener scans the market every day to uncover opportunities. xcritical reviews Provides a general description of the business conducted by this company. /CNW/ — USA News Group – The race to dominate the artificial intelligence (AI) space continues to heat up, with Goldman Sachs recently asking the question…
