Down 38% From Its High, Is Upstart Stock a Smart Buy Right Now?
Upstart Holdings (NASDAQ: UPST) went public in December 2020, and the fintech immediately caught fire. It followed strong first-quarter results with quadruple digital revenue growth in the second quarter, and the enthusiasm surrounding the stock reached a fever pitch. At one point, its share price was up over 1,200%.
But things have gone south since then. In October, two different Wall Street analysts hit the company with downgrades, and in November, JMP Securities analyst Ronald Josey lowered his price target to $315. Those events sparked a significant sell-off, and Upstart stock currently trades 38% below its 52-week high -- though it's still up 715% since the IPO.
After that whirlwind, is Upstart a smart buy? Here's what you should know.
Source Fool.com
