With its stock down 96% from its peak close, Upstart is finally showing "incremental positives," though analysts say the company has a long journey...
With its stock down 96% from peak closing levels, Upstart Holdings Inc. is finally showing “incremental positives,” though analysts say the company still has a long recovery journey ahead of it.
Upstart’s battered shares UPST were getting a lift in Wednesday’s premarket action, up 35% after the company, which uses artificial intelligence to inform lending decisions, gave an upbeat outlook and indicated that it was making some progress with funding partners.“We applaud UPST’s ability to lock up $2B of new funding while existing lender partners remain conservative with their funding,” Barclays analyst Ramsey El-Assal wrote.
Piper Sandler’s Arvind Ramnani also highlighted the mix of opportunity and uncertainty stemming from the latest disclosures about new funding partners.
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