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Adam Eckert

Why Upstart Shares Are Getting Cut In Half Today

Upstart UPST Nasdaq Upstart Holdings

Upstart Holdings Inc (NASDAQ:UPST) shares are trading significantly lower Tuesday after the company reported financial results and issued full-year guidance below analyst estimates. Several analysts also downgraded and lowered price targets on the stock.

Upstart said first-quarter revenue increased 156% year-over-year to $310 million, which beat the $300.12 million estimate, according to data from Benzinga Pro. The company reported quarterly earnings of 61 cents per share, which beat the estimate of 50 cents per share.

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