Upstart's Strong Q3 Results Could Fuel Stock Surge Amid High Short Interest
Upstart delivered strong Q3 results, surpassing expectations across several key metrics.
32% short interest should act as a rocket fuel 🔥🔥
Piper Sandler has upgraded Upstart from Neutral to Overweight, raising the price target significantly from $31 to $85.
Breakout point: $72.6
Potentially imminent long-term multi-year rangebound breakout.
CEO Dave Girouard expressed confidence in Upstart’s progress, highlighting, "With 43% sequential growth in lending volume and a return to positive adjusted EBITDA, we are continually solidifying Upstart’s position as a fintech leader in artificial intelligence."
🔹 Revenue: $162.1M (Est. $150.4M) 🟢; UP +20% YoY
🔹 Fee Revenue: $167.6M; UP +14% YoY 🟢
🔹 Adjusted Loss per Share: -$0.06 (Est. -$0.14) 🟢
🔹 Contribution Profit: $102.4M (Est. $90.5M); UP +8.7% YoY🟢
🔹 Adjusted EBITDA: $1.41M (Est. -$5.59M) 🟢
Modify on 2024-11-08 22:54
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