In the latest trading session, Upstart Holdings, Inc. (UPST) closed at $63.35, marking a +1.46% move from the previous day. This move outpaced the S&P 500's daily gain of 0.8%. On the other hand, the Dow registered a gain of 0.94%, and the technology-centric Nasdaq increased by 0.97%.
Heading into today, shares of the company had gained 32.82% over the past month, outpacing the Finance sector's gain of 2.69% and the S&P 500's gain of 5.12%.
Analysts and investors alike will be keeping a close eye on the performance of Upstart Holdings, Inc. in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.27, reflecting a 258.82% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $226.12 million, showing a 77.17% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.56 per share and revenue of $1.01 billion, indicating changes of +880% and +58.99%, respectively, compared to the previous 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. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Upstart Holdings, Inc. is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, Upstart Holdings, Inc. is currently exchanging hands at a Forward P/E ratio of 40.03. This represents a premium compared to its industry average Forward P/E of 11.65.
The Financial - Miscellaneous Services industry is part of the Finance sector. With its current Zacks Industry Rank of 91, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming 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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