Upstart Holdings, Inc. (UPST) ended the recent trading session at $44.96, demonstrating a -3.46% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.14%. Meanwhile, the Dow lost 0.2%, and the Nasdaq, a tech-heavy index, lost 0.24%.
Prior to today's trading, shares of the company had gained 5.22% outpaced the Finance sector's gain of 2.19% and the S&P 500's gain of 0.94%.
The investment community will be closely monitoring the performance of Upstart Holdings, Inc. in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.47, marking a 80.77% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $288.47 million, reflecting a 31.74% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $1.68 per share and a revenue of $1.04 billion, demonstrating changes of +940% and +62.77%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Upstart Holdings, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Upstart Holdings, Inc. is currently a Zacks Rank #3 (Hold).
In terms of valuation, Upstart Holdings, Inc. is presently being traded at a Forward P/E ratio of 27.8. This represents a premium compared to its industry average Forward P/E of 12.15.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 111, putting it in the top 45% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Upstart Holdings, Inc. (UPST): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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