UPST - Upstart: Indicators Suggest Weak Start To 2024 (Downgrade)
2024-01-23 13:48:44 ET
Summary
- Upstart Holdings, Inc. is expected to report weak Q4 '23 earnings, with mounting headwinds in personal loans and increased loan defaults.
- The Upstart Macro Index suggests a 73% increase in the default rate for unsecured personal loans.
- Upstart's AI lending platform has seen a surge in lending partners, but weak results and projections may lead to stock weakness in 2024.
Upstart Holdings, Inc. ( UPST ) should report Q4 '23 earnings in the next few weeks ( expected post-market on February 13th) with headwinds in personal loans mounting. The fintech's economic index continues pointing to excessive borrower weakness leading to additional defaults. My investment thesis is more Neutral, with the stock up over 70% since our last Bullish call at $22....
Upstart: Indicators Suggest Weak Start To 2024 (Downgrade)