Upstart Holdings Inc (NASDAQ: UPST): Stock Forecast For 2024 Remains Weak With A Downward Revision Of 35.3%

In the last trading session, 6.45 million shares of the Upstart Holdings Inc (NASDAQ:UPST) were traded, and its beta was 2.06. Most recently the company’s share price was $68.36, and it changed around $0.97 or 1.45% from the last close, which brings the market valuation of the company to $6.33B. UPST currently trades at a discount to its 52-week high of $86.07, offering almost -25.91% off that amount. The share price’s 52-week low was $20.60, which indicates that the current value has risen by an impressive 69.87% since then. We note from Upstart Holdings Inc’s average daily trading volume that its 10-day average is 12.89 million shares, with the 3-month average coming to 7.96 million.

Upstart Holdings Inc stock received a consensus recommendation rating of Underweight, based on a mean score of 3.17. If we narrow it down even further, the data shows that 0 out of 2 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended UPST as a Hold, whereas 0 deemed it a Buy, and 2 rated it as Underweight.

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Upstart Holdings Inc (NASDAQ:UPST) trade information

Instantly UPST has showed a green trend with a performance of 1.45% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 86.07 on recent trading dayincreased the stock’s daily price by 20.58%. The company’s shares are currently up 67.30% year-to-date, but still down -15.60% over the last five days. On the other hand, Upstart Holdings Inc (NASDAQ:UPST) is 31.34% up in the 30-day period. We can see from the shorts that 22.48 million shares have been sold at a short interest cover period of 3.42 day(s).

The consensus price target as assigned by Wall Street analysts is $37.5, which translates to bulls needing to decrease their stock price by -82.29% from its current value. Analyst projections state that UPST is forecast to be at a low of $12 and a high of $85.

Upstart Holdings Inc (UPST) estimates and forecasts

Upstart Holdings Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 169.03 percent over the past six months and at a -10.71% annual growth rate that is well below the industry average of 9.60%.

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 14.49% in 2024, but the outlook is positive 77.68% per year for the next five years.

UPST Dividends

Upstart Holdings Inc’s next quarterly earnings report is expected to be released on 2025-Feb-11.

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

Upon looking at major shareholders, it appears that insiders hold 12.57% of Upstart Holdings Inc shares, and 56.58% of them are in the hands of institutional investors. The stock currently has a share float of 64.71%. Upstart Holdings Inc stock is held by 443.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 8.3871% of the shares, which is about 7.3 million shares worth $172.19 million.

BLACKROCK INC., with 6.5084% or 5.66 million shares worth $133.62 million as of 2024-06-30, holds the second largest percentage of outstanding shares.