$213.46 Million in Sales Expected for Upstart Holdings, Inc. (NASDAQ:UPST) This Quarter

Brokerages expect that Upstart Holdings, Inc. (NASDAQ:UPST) will report sales of $213.46 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Upstart’s earnings, with the highest sales estimate coming in at $214.68 million and the lowest estimate coming in at $212.24 million. The firm is expected to announce its next quarterly earnings report on Tuesday, November 9th.

On average, analysts expect that Upstart will report full-year sales of $758.35 million for the current year, with estimates ranging from $757.78 million to $758.91 million. For the next fiscal year, analysts expect that the company will report sales of $1.05 billion, with estimates ranging from $1.03 billion to $1.07 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Upstart.

Upstart (NASDAQ:UPST) last announced its earnings results on Tuesday, August 10th. The company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.37. The firm had revenue of $193.95 million during the quarter, compared to analyst estimates of $157.75 million. The business’s revenue for the quarter was up 1017.7% compared to the same quarter last year.

Several equities research analysts have weighed in on the stock. Atlantic Securities assumed coverage on shares of Upstart in a research note on Monday, September 6th. They issued an “overweight” rating and a $290.00 target price for the company. Barclays lifted their price objective on shares of Upstart from $230.00 to $345.00 and gave the stock an “overweight” rating in a research note on Monday, September 20th. Citigroup downgraded shares of Upstart from a “buy” rating to a “neutral” rating and set a $350.00 price objective for the company. in a research note on Monday, September 20th. The Goldman Sachs Group assumed coverage on shares of Upstart in a research note on Monday, July 12th. They set a “buy” rating and a $147.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of Upstart from a “hold” rating to a “buy” rating and set a $325.00 price objective for the company in a research note on Thursday, October 7th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Upstart currently has a consensus rating of “Buy” and an average target price of $218.64.

Shares of UPST opened at $344.89 on Thursday. Upstart has a twelve month low of $22.61 and a twelve month high of $346.54. The company has a 50 day moving average of $255.59 and a two-hundred day moving average of $169.44.

In other Upstart news, General Counsel Alison Nicoll sold 22,500 shares of Upstart stock in a transaction on Wednesday, August 18th. The shares were sold at an average price of $213.93, for a total value of $4,813,425.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Natalia Mirgorodskaya sold 16,351 shares of Upstart stock in a transaction on Thursday, August 12th. The shares were sold at an average price of $167.62, for a total transaction of $2,740,754.62. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,111,464 shares of company stock valued at $449,147,257. 25.20% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UPST. American International Group Inc. purchased a new stake in shares of Upstart during the first quarter worth about $25,000. Koshinski Asset Management Inc. purchased a new stake in shares of Upstart during the third quarter worth about $30,000. Carroll Financial Associates Inc. purchased a new stake in shares of Upstart during the third quarter worth about $31,000. West Oak Capital LLC purchased a new stake in shares of Upstart during the third quarter worth about $32,000. Finally, Berman Capital Advisors LLC purchased a new stake in shares of Upstart during the third quarter worth about $42,000. 49.24% of the stock is owned by institutional investors.

About Upstart

Upstart Holdings, Inc operates a cloud- based artificial intelligence (AI) lending platform. The company's platform aggregates consumer demand for loans and connects it to its network of the company's AI- enabled bank partners. Its platform connects consumers, banks, and institutional investors through a shared AI lending platform.

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Earnings History and Estimates for Upstart (NASDAQ:UPST)

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