US91680M1071 - Common Stock
Upstart reported a strong quarter, but there's more to the story.
Equity analysts in Manhattan have a difficult time imagining the logistics needs in Brazil.
Upstart uses artificial intelligence to make lending decisions.
Robinhood, Upstart, and Affirm are positioned to head higher.
Shares of AI lending platform Upstart (NASDAQ:UPST) jumped 45.2% in the afternoon session after the company reported impressive earnings and provided an encouraging sales outlook for the next quarter which blew past analysts' expectations. Its revenue also outperformed Wall Street's estimates during the quarter. Upstart achieved sequential 43% growth in lending volume, driven by enhancements to its predictive models. These advanced models more accurately assessed creditworthiness, leading to higher conversion rates and increased customer approvals.
Upstart's earnings show the company is firmly back in growth mode.
Here are the top movers in Friday's session, showcasing the stocks with significant price changes.
Gapping stocks in Friday's session
UPST earnings call for the period ending September 30, 2024.
AI lending platform Upstart (NASDAQ:UPST) reported Q3 CY2024 results beating Wall Street’s revenue expectations, with sales up 20.5% year on year to $162.1 million. On top of that, next quarter’s revenue guidance ($180 million at the midpoint) was surprisingly good and 10.9% above what analysts were expecting. Its non-GAAP loss of $0.06 per share was also 59.1% above analysts’ consensus estimates.
The regular session of the US market on Thursday is now over, but let's get a preview of the after-hours session and explore the top gainers and losers driving the post-market movements.
AI lending platform Upstart (NASDAQ:UPST) will be reporting earnings tomorrow afternoon. Here’s what to expect.
Interest rate cuts should help it get back to growth.
There's nothing wrong with investing a small portion of one's portfolio in riskier growth stocks like these.
These speculative stocks have taken off this month.
The Federal Reserve cut interest rates for the first time since 2020.
The stock is up over 100% in a year. Is this a fluke or the start of something bigger?