Upstart (UPST) Stock Sinks on Gloomy Forecast

  • Upstart (UPST) stock is falling on a poor outlook in its Q3 earnings report.
  • The company’s Q4 revenue is likely to miss Wall Street’s estimates.
  • It also missed earnings per share and revenue estimates in Q3.
UPST Stock - Upstart (UPST) Stock Sinks on Gloomy Forecast

Source: rafapress /

Upstart (NASDAQ:UPST) stock is sliding lower on Wednesday following a poor performance in the third quarter of 2022 and a weak outlook.

Let’s start with that outlook, which has Upstart expecting revenue of $125 million to $145 million in the fourth quarter of the year. That’s not looking good next to Wall Street’s estimate of $179.04 million for the period.

To go along with that, Upstart is expecting a net loss of $87 million in its upcoming quarter. This comes alongside its estimate of -$35 million in Adjusted EBITDA for the fourth quarter of 2022.

Q3 Results Aren’t Helping UPST Stock

That includes the lending company’s adjusted earnings per share of -24 cents. This is much wider than the -8 cents per share that analysts were expecting for the quarter.

Also not doing UPST stock any favors is its revenue of $157.23. That’s another miss for the company compared to Wall Street’s revenue estimate of $169.44 million. It also represents a 31% decrease year-over-year from $228.45 million.

All of this news has investors selling shares and triggering heavy trading of UPST stock. As of this writing, more than 8 million shares of the stock have changed hands. That’s already above its daily average trading volume of about 7 million shares.

UPST stock is down 16.9% as of Wednesday morning.

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

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