Upstart Holdings, Inc. (UPST) concluded its latest trading day at $27.11, reflecting an increase of 0.71% from the previous session’s close. This uptick surpasses the S&P 500’s daily gain of 0.55%. In comparison, the Dow rose by 0.62%, and the technology-driven Nasdaq climbed by 0.63%.
Over the past month, Upstart Holdings’ shares have appreciated by 16.69%. During the same period, the Computer and Technology sector saw an increase of 5.73%, while the S&P 500 gained 4.28%.
Investors are keenly watching Upstart Holdings, Inc.’s performance ahead of its upcoming earnings report, which is set for release on August 6, 2024. Projections indicate an earnings per share (EPS) of -$0.39, marking a drastic 750% decline compared to the same quarter in the previous year. Meanwhile, revenue is expected to be $125.16 million, reflecting a 7.81% decrease from the previous year’s corresponding quarter.
For the entire year, Zacks Consensus Estimates forecast an EPS of -$0.93 and revenue of $557.68 million. These figures signify changes of -66.07% and +8.59%, respectively, compared to the prior year.
Analyst estimates for Upstart Holdings, Inc. have recently seen adjustments, mirroring the dynamic nature of short-term business trends. Positive revisions typically indicate growing analyst confidence in the company’s operations and profitability.
Research indicates that such estimate changes are closely linked to near-term stock prices. To leverage this, the Zacks Rank system was developed, incorporating these adjustments into a practical rating system. This system ranges from #1 (Strong Buy) to #5 (Strong Sell). Notably, stocks with a #1 rating have historically delivered an average annual return of +25% since 1988, as validated by third-party audits. In the past 30 days, consensus EPS projections for Upstart Holdings, Inc. have remained unchanged. The company currently holds a Zacks Rank of #3 (Hold).
The Computers – IT Services industry, part of the Computer and Technology sector, holds a Zacks Industry Rank of 78, placing it within the top 31% of over 250 industries. The Zacks Industry Rank evaluates the health of specific industry groups by calculating the average Zacks Rank of the individual stocks within them. Research shows that industries in the top 50% outperform the lower half by a ratio of 2 to 1.
To stay updated with all these stock-moving metrics and more, investors are encouraged to utilize Zacks.com in the coming trading sessions.
 closes at $27.11, up 0.71%. Its monthly performance outshines the S&P 500. Watch for the earnings report on August 6, 2024.){kind=link}