Upstart Holdings, Inc. (UPST) Stock Sinks As Market Gains: What You Should Know
Upstart Holdings, Inc. (UPST) closed at $18.68 in the latest trading session, marking a -0.43% move from the prior day. This change lagged the S&P 500's 1.46% gain on the day. Meanwhile, the Dow gained 1.09%, and the Nasdaq, a tech-heavy index, added 6.63%.
Prior to today's trading, shares of the company had gained 41.91% over the past month. This has outpaced the Computer and Technology sector's gain of 9.6% and the S&P 500's gain of 4.75% in that time.
Upstart Holdings, Inc. will be looking to display strength as it nears its next earnings release, which is expected to be February 14, 2023. In that report, analysts expect Upstart Holdings, Inc. to post earnings of -$0.48 per share. This would mark a year-over-year decline of 153.93%. Our most recent consensus estimate is calling for quarterly revenue of $133.29 million, down 56.28% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Upstart Holdings, Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 16.34% lower. Upstart Holdings, Inc. is holding a Zacks Rank of #3 (Hold) right now.
The Computers - IT Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 177, putting it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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