In a report released today, Kyle Peterson from Needham reiterated a Buy rating on Upstart Holdings (UPST – Research Report), with a price target of $108.00.
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Kyle Peterson has given his Buy rating due to a combination of factors that highlight the positive outlook for Upstart Holdings. The company exceeded expectations in the fourth quarter, achieving impressive results both in revenue and earnings, primarily driven by substantial loan growth and effective cost management. This performance, coupled with a strong pipeline of funding, has allowed the management to issue guidance that surpasses market predictions, projecting a notable 57% year-over-year revenue increase by 2025 alongside significant margin improvements.
Despite a notable rise in the stock’s price following these announcements, Peterson continues to view Upstart as an attractive opportunity for investors focused on FinTech growth. The company’s rapid growth trajectory, innovative product offerings, and expanding funding sources provide greater clarity and confidence in its business model. Consequently, this combination of strategic advantages supports the reiteration of a Buy rating and an increased target price for the stock.
In another report released today, Mizuho Securities also maintained a Buy rating on the stock with a $110.00 price target.