Why Upstart Holdings Inc (NASDAQ: UPST) Stock Should Not Be Discarded By Investors In 2024

In the last trading session, 6.11 million shares of the Upstart Holdings Inc (NASDAQ:UPST) were traded, and its beta was 1.96. Most recently the company’s share price was $26.89, and it changed around -$1.28 or -4.54% from the last close, which brings the market valuation of the company to $2.32B. UPST currently trades at a discount to its 52-week high of $72.58, offering almost -169.91% off that amount. The share price’s 52-week low was $11.93, which indicates that the current value has risen by an impressive 55.63% since then. We note from Upstart Holdings Inc’s average daily trading volume that its 10-day average is 4.88 million shares, with the 3-month average coming to 7.80 million.

Upstart Holdings Inc stock received a consensus recommendation rating of Hold, based on a mean score of 4.12. If we narrow it down even further, the data shows that 6 out of 16 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 7 recommended UPST as a Hold, whereas 0 deemed it a Buy, and 3 rated it as Underweight. Upstart Holdings Inc is expected to report earnings per share of -$0.38 for the current quarter.

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Upstart Holdings Inc (NASDAQ:UPST) trade information

Instantly UPST has showed a red trend with a performance of -4.54% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -34.19% year-to-date, but still up 2.09% over the last five days. On the other hand, Upstart Holdings Inc (NASDAQ:UPST) is 5.37% up in the 30-day period. We can see from the shorts that 27.13 million shares have been sold at a short interest cover period of 4.6 day(s).

The consensus price target as assigned by Wall Street analysts is $41.32, which translates to bulls needing to increase their stock price by 34.92% from its current value. Analyst projections state that UPST is forecast to be at a low of $10 and a high of $180.

Upstart Holdings Inc (UPST) estimates and forecasts

Upstart Holdings Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -0.15 percent over the past six months and at a 37.50% annual growth rate that is well above the industry average of 5.70%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 19.10% in revenue this quarter, and will report a decrease of -383.30% in the next quarter. The year-over-year growth rate is expected to be 2.60%, up from the previous year.

Consensus estimates provided by 9 financial analysts predict the company will bring in an average of $125.09 million in revenue for the current quarter. 9 analysts expect Upstart Holdings Inc to make $140.83 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $108.96 million and $135.77 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 14.80%. Forecasts for the next quarter put sales growth at 3.70%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -76.37%. Upstart Holdings Inc earnings are expected to increase by -24.14% in 2024, but the outlook is positive 30.00% per year for the next five years.

UPST Dividends

Upstart Holdings Inc’s next quarterly earnings report is expected to be released around May 07 and May 13.

Upstart Holdings Inc (NASDAQ:UPST)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 15.37% of Upstart Holdings Inc shares, and 50.19% of them are in the hands of institutional investors. The stock currently has a share float of 59.31%. Upstart Holdings Inc stock is held by 424 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 8.07% of the shares, which is about 6.77 million shares worth $242.38 million.

Blackrock Inc., with 6.41% or 5.37 million shares worth $192.47 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 2.17 million shares worth $77.81 million, making up 2.59% of all outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held roughly 1.81 million shares worth around $64.96 million, which represents about 2.16% of the total shares outstanding.