Upstart Holdings Inc (UPST) PT Raised to $81 at Jefferies After Beating Expectations in its First Public Report

Jefferies analyst Ryan Carr raised the price target on Upstart Holdings Inc (NASDAQ: UPST) to $81.00 (from $66.00) after the company reported 4Q20 EPS of $0.07, beating the Street's $0.01. Fee revenues of $84.4M exceeded the $73.7M forecast, as a result of impressive loan volume growth. UPST originated 123.4M loans during the quarter ahead of the 89.5M estimate and up 57% YoY. EPS of $0.07 beat expectations for $0.05 as well.

The analyst stated "It was a very strong inaugural, post-IPO qtr. for UPST, with most metrics seeing significant upside vs our / Street expectations. Also, guidance was especially strong - we note 1Q21 revenue guidance represents ~41% upside from our prior ests. at the midpoint. We continue to believe Upstart's cloud-based, Artificial Intelligence (AI) lending platform results in a superior credit product with attractive
economics for both consumers and lenders, a 'win-win' model for both participants. We see LT, strong growth opportunities given a first-mover advantage and a very large TAM."

while maintaining a Buy rating.

You May Also Be Interested In

• Advance Auto Parts (AAP) PT Lowered to $48 at DA Davidson Following 25% Selloff Post Q2 Results
• Nomura/Instinet Downgrades Pop Mart International Group Ltd (9992:HK) to Neutral
• Benchmark Reiterates Buy Rating on Rank One Computing (ROC)