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Upstart Holdings, Inc. stock surged nearly 40% after beating its Q2 estimates. Despite its revenue and earnings beats, Upstart's financial results softened year-over-year. The company's operating metrics are under pressure, which we believe will linger due to a challenging credit market.
Upstart, an AI-based lending platform, stands to benefit from the current economic backdrop. With a recent earnings beat and a high short interest, shares have short squeeze potential over the next few months.
Upstart beat estimates, though revenue still declined. The company expects momentum to pick up in the second half of the year.
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.
U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining around 250 points on Wednesday.
Although the revenue and EPS for Upstart (UPST) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Upstart (NASDAQ: UPST ) stock is on the move Wednesday as investors are taking extra interest in the cloud-based artificial intelligence ( AI ) lending platform. This comes after Upstart reported adjusted earnings per share of -17 cents in the second quarter of 2024.
The Federal Reserve appears set to begin cutting interest rates in September. In fact, the cuts may be rather aggressive, with some traders starting to bet on 50 rather than 25 basis point cuts to try to support the job market.
Upstart Holdings, Inc. UPST reported better-than-expected second-quarter financial results and issued third-quarter revenue guidance above estimates on Tuesday.
Upstart's better-than-expected earnings led to a 20% share price increase, but its high debt and valuation make it a risky investment. The company faces challenges with debt, stock volatility, and macroeconomic conditions, despite progress in revenue growth and efficiency. Upstart's valuation at 50x next year's EBITDA, along with its substantial debt burden, makes it an unattractive investment opportunity.