{"id":82747,"date":"2023-11-09T19:14:39","date_gmt":"2023-11-10T00:14:39","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/upstart-holdings-shares-plummet-following-q3-report-and-revised-forecast\/"},"modified":"2023-11-09T19:14:42","modified_gmt":"2023-11-10T00:14:42","slug":"upstart-holdings-shares-plummet-following-q3-report-and-revised-forecast","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=82747","title":{"rendered":"Upstart Holdings shares plummet following Q3 report and revised forecast"},"content":{"rendered":"
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\u00a9 Reuters. <\/span>
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Shares of AI fintech firm Upstart Holdings (NASDAQ:) experienced a sharp decline of 23% to $22.61 in premarket trading today, following the release of their Q3 report late Tuesday. The San Mateo-based company reported a Q3 loss of $40.3 million, an improvement over the previous year’s loss of $56.2 million.<\/p>\n

Despite the reduced loss, Upstart’s revenue saw a 14% drop to $134.6 million. After adjusting for specific items, the loss was 5 cents per share. The company’s fourth-quarter revenue forecast predicts a steady performance with an anticipated revenue of $135 million.<\/p>\n

However, Upstart is bracing for an expected Q4 loss of approximately $48 million. In response to these results and forecasts, brokerage firm Piper Sandler has revised their price target on Upstart’s shares, signaling a cautious outlook for the AI fintech company.<\/p>\n

InvestingPro Insights<\/h2>\n

In line with the recent performance of Upstart Holdings, InvestingPro data and tips provide some valuable context. The company has a market cap of $2470M and a negative P\/E ratio of -9.05, indicating that it is not currently profitable. This aligns with the InvestingPro tip that analysts do not anticipate the company will be profitable this year.<\/p>\n

Furthermore, Upstart’s revenue has been declining at an accelerating rate, which is reflected in a -47.77% revenue growth over the last twelve months as of Q2 2023. This corresponds with the InvestingPro tip that analysts anticipate a sales decline in the current year.<\/p>\n

Despite these challenges, Upstart has demonstrated significant return over the last week with a 19.15% increase, and a high return over the last year with a 53.89% increase. This is in line with the InvestingPro tip that the stock price movements are quite volatile.<\/p>\n

These insights are just a glimpse of the comprehensive analysis provided by InvestingPro. For a deeper understanding and more tips, consider exploring InvestingPro’s product offerings.<\/p>\n

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.<\/em><\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Shares of AI fintech firm Upstart Holdings (NASDAQ:) experienced a sharp decline of 23% to $22.61 in premarket trading today, following the release of their Q3 report late Tuesday. The San Mateo-based company reported a Q3 loss of $40.3 million, an improvement over the previous year’s loss of $56.2 million. Despite the reduced […]<\/p>\n","protected":false},"author":1,"featured_media":5023,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-82747","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nUpstart Holdings shares plummet following Q3 report and revised forecast | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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