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Better-than-expected earnings sparked hope for a turnaround. Shares of fintech loan platform Upstart (UPST -1.20%) rocketed 44% higher through Thursday of this week, according to data from S&P Global Market Intelligence. The struggling fintech reported better-than-feared earnings amid operational improvements, along with a more optimistic outlook for the back half of the year. Given that the company has been thoroughly beaten down, about 95% below its 2021 highs, the stock rocketed higher on prospects for a ...

J Studios Upstart Holdings, Inc. (UPST) is our topic today. The company released its second-quarter results earlier this week, surpassing analysts' estimates, leading to a near 40% surge in its stock price. Given the velocity of the subsequent response, we decided to revise the asset, especially as the current financial market parameters are unstable. UPST Stock (Seeking Alpha) We last covered Upstart in April, assigning the stock a neutral rating. However, considering recent events, we decided to revise it ...

A helpful metaphor for amateur investors to think of related to the market environment is that the major stock indices are the current, and individual stocks are fish within that current. In other words, most stocks will trend upwards in an up market, and in a down market, most stocks will succumb to the market's weakness. Historical data tells us that roughly 75% of a stock's move can be attributed to the underlying market trend in the major indices such as the S&P 500 Index ETF ((SPY) ), Dow Jones Industr ...

The business is still struggling, but results were better than expected. Shares of Upstart (UPST 44.20%) were surging today after the struggling consumer lending platform posted better-than-expected results in the second quarter and offered upbeat guidance for the third quarter, showing that the business may finally be returning to growth. As of 12:51 p.m. ET, the stock was up 48.6%. Upstart bounces back Upstart, which uses an AI-based model to screen prospective lenders to better assess creditworthiness an ...

Upstart Holdings, Inc. UPST shares are jumping today after it reported better-than-expected second-quarter financial results and issued third-quarter revenue guidance above estimates yesterday. The company reported an EPS loss of $0.17, which beat the analyst consensus loss estimate of $0.39, and revenue of $128 million, which beat the analyst consensus estimate of $124.54 million. For the third quarter of 2024, Upstart expects revenue of approximately $150 million vs. the $135.36 million estimate. Piper Sa ...

U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining around 250 points on Wednesday. The Dow traded up 0.95% to 39,367.42 while the NASDAQ rose 1.52% to 16,616.10. The S&P 500 also rose, gaining, 1.33% to 5,309.90. Leading and Lagging Sectors Energy shares climbed by 2% on Wednesday. In trading on Wednesday, health care shares rose by just 0.1%. Top Headline The EIA said crude oil inventories in the U.S. declined by 3.728 million barrels in the week ended Aug. 2, compared to m ...

Upstart Holdings, Inc. (UPST) reported $127.63 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 6%. EPS of -$0.17 for the same period compares to $0.06 a year ago. The reported revenue represents a surprise of +1.97% over the Zacks Consensus Estimate of $125.16 million. With the consensus EPS estimate being -$0.39, the EPS surprise was +56.41%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations ...

Nanci Santos/iStock via Getty Images Investment Thesis The notorious fintech Upstart (NASDAQ:UPST) reported Q2 2024 results that were better than expected, which led to its share price jumping more than 20% after hours. Meanwhile, if we move beyond the positive surprises of its better-than-expected EBITDA losses, I struggle to see how investors will be positively rewarded in this name. Particularly given that as it stands, investors are asked to pay around 50x next year's best-case EBITDA scenario, while ta ...