What is Wedbush’s Estimate for Upstart FY2024 Earnings?

Upstart Holdings, Inc. (NASDAQ:UPST) – Equities researchers at Wedbush cut their FY2024 earnings estimates for Upstart in a research note issued to investors on Monday, October 14th. Wedbush analyst D. Chiaverini now expects that the company will earn ($2.28) per share for the year, down from their previous estimate of ($2.26). Wedbush currently has a “Neutral” rating and a $45.00 price target on the stock. The consensus estimate for Upstart’s current full-year earnings is ($2.39) per share. Wedbush also issued estimates for Upstart’s Q4 2024 earnings at ($0.35) EPS, Q1 2025 earnings at ($0.41) EPS, Q2 2025 earnings at ($0.27) EPS, Q3 2025 earnings at ($0.12) EPS, Q4 2025 earnings at $0.09 EPS, FY2025 earnings at ($0.70) EPS and FY2026 earnings at $0.11 EPS.

Upstart (NASDAQ:UPST) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.22. The company had revenue of $127.63 million for the quarter, compared to analysts’ expectations of $124.55 million. Upstart had a negative net margin of 38.05% and a negative return on equity of 32.01%. Upstart’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.34) earnings per share.

UPST has been the topic of a number of other reports. Needham & Company LLC reiterated a “hold” rating on shares of Upstart in a research report on Thursday, August 8th. Barclays increased their price target on shares of Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Citigroup upgraded shares of Upstart from a “sell” rating to a “neutral” rating and increased their price target for the company from $15.00 to $33.00 in a research report on Wednesday, August 7th. JPMorgan Chase & Co. increased their price target on shares of Upstart from $27.00 to $30.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Finally, Piper Sandler increased their price objective on Upstart from $28.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $31.50.

Upstart Trading Down 4.3 %

UPST stock opened at $52.05 on Wednesday. Upstart has a 1-year low of $19.84 and a 1-year high of $57.40. The company’s 50 day moving average is $40.29 and its 200 day moving average is $30.19. The stock has a market cap of $4.66 billion, a price-to-earnings ratio of -22.24 and a beta of 2.01.

Hedge Funds Weigh In On Upstart

Institutional investors have recently added to or reduced their stakes in the company. Indiana Trust & Investment Management Co bought a new position in shares of Upstart during the third quarter valued at $43,000. Anfield Capital Management LLC bought a new position in shares of Upstart during the second quarter valued at $33,000. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Upstart by 80.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,743 shares of the company’s stock valued at $47,000 after acquiring an additional 778 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Upstart by 259.0% during the second quarter. GAMMA Investing LLC now owns 2,204 shares of the company’s stock valued at $52,000 after acquiring an additional 1,590 shares in the last quarter. Finally, Comerica Bank increased its holdings in shares of Upstart by 144.0% during the first quarter. Comerica Bank now owns 2,313 shares of the company’s stock valued at $62,000 after acquiring an additional 1,365 shares in the last quarter. Institutional investors own 63.01% of the company’s stock.

Insider Buying and Selling

In related news, CEO Dave Girouard sold 3,361 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $38.35, for a total value of $128,894.35. Following the completion of the sale, the chief executive officer now owns 61,512 shares of the company’s stock, valued at $2,358,985.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Upstart news, CTO Paul Gu sold 20,000 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $50.26, for a total value of $1,005,200.00. Following the completion of the transaction, the chief technology officer now owns 878,565 shares in the company, valued at approximately $44,156,676.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dave Girouard sold 3,361 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $38.35, for a total value of $128,894.35. Following the completion of the transaction, the chief executive officer now owns 61,512 shares of the company’s stock, valued at approximately $2,358,985.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 312,959 shares of company stock valued at $13,641,350 over the last quarter. 18.06% of the stock is owned by company insiders.

About Upstart

Upstart Holdings, Inc, together with its subsidiaries, operates a cloud-based artificial intelligence (AI) lending platform in the United States. Its platform includes personal loans, automotive retail and refinance loans, home equity lines of credit, and small dollar loans that connects consumer demand for loans to its to bank and credit unions.