
Upstart Holdings Inc (NASDAQ:UPST) reported better-than-expected first-quarter results on Monday after the bell. However, shares of the AI consumer lending company tumbled more than 40% as management slashed the 2022 revenue forecast to $1.25 billion.
Piper Sandler On Upstart Holdings: Analyst Arvind Ramnani downgraded the rating for Upstart Holdings from Overweight to Neutral, while lowering the price target from $230 to $44.