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Upstart Holdings Inc. UPST stock is trading lower on Monday.
SAN MATEO, Calif.--(BUSINESS WIRE)--Upstart Announces Proposed Private Offering of $500,000,000 of Convertible Senior Notes Due 2032.
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Followers of Palantir (PLTR 2.53%) will know that the company likes to use the Rule of 40 as a performance benchmark.
Despite some significant volatility across the stretch and big macroeconomic risk factors, the financial sector has done quite well over the last year of trading. As of this writing, the the S&P 500 Financials Sector index has delivered a total return of 25% across the stretch -- crushing the S&P 500 index's already-impressive gain of 20% over the period.
It may seem like a long time ago now, but 2021 was the year of Upstart Holdings. The lending platform grew to a market cap of $30 billion and was aiming to disrupt the traditional pricing mechanisms for consumer loans before it crashed over 90% from all-time highs.
Upstart Holdings (UPST 3.89%) stock jumped 26% in July, according to data provided by S&P Global Market Intelligence. The market is getting excited about it again as interest rates come down, and many financial stocks have been reporting robust growth.
After a turbulent couple of years following the interest rate spikes of 2022, Upstart's (UPST -18.07%) business has grown nicely. In fact, despite the persistent high-rate environment and economic uncertainty, Upstart's loan origination volume grew by a staggering 89% year over year in the first quarter of 2025.
A stock must increase 900% to generate a 10x return. Only 23 companies in the S&P 500 (^GSPC 0.73%) accomplished that during the last decade.
Analysts noted high expectations for the AI lender, as well as a sharp increase in the amount of loans held on the company's balance sheet.