Upstart Shares Surged More Than 26% in Premarket Trading

Tiger Newspress2022-02-16

Upstart shares surged more than 26% in premarket trading.

The company announced a $400M stock buyback program, issued strong Q1 guidance, and posted better-than-expected Q4 results.

"With triple-digit growth and record profits, Q4 was an exceptional finish to a breakout year for Upstart (UPST)," said co-founder and CEO David Girouard. He also said "auto loan originations on our platform are now ramping quickly and will provide growth opportunities to Upstart for years to come."

The lending software company issued Q1 revenue guidance of $295M-$305M vs. consensus of $258.3M. The company expects Q1 adjusted EBITDA of $56M-$58M compared with $50.6M Visible Alpha consensus, and Q1 adjusted net income of $50M-$52M vs. $87M reported in Q4 2021.

It also sees contribution margin of ~46% in Q1 vs. 45.9% Visible Alpha consensus.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Gneiss
2022-02-17
Gneiss
Great!
JLiP
2022-02-16
JLiP
Wow
Handoko
2022-02-16
Handoko
👍🏻
Anoo
2022-02-16
Anoo
👍
CWen
2022-02-16
CWen
good
BoonHuat
2022-02-16
BoonHuat
Nice.

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