This Fintech's Hypergrowth Could Last for Years
Fintech company Upstart Holdings (NASDAQ: UPST) recently posted an earnings report that the market embraced, sending the stock higher. Upstart's been on a wild ride since its IPO in late 2020, trading between $42 and $401 per share over just the past 12 months.
The stock not sits at almost $150 per share, and investors are probably curious how much upside there is. Fear not, I will unravel the company's phenomenal quarter and detail why Upstart could continue posting impressive numbers.
The company, which uses artificial intelligence to replace the FICO credit score used by lenders in credit decisions, recently reported results for 2021. The company had fourth-quarter revenue of $305 million, a whopping 252% year-over-year increase, and smashing analyst estimates by 16%. Upstart also is profitable; non-GAAP earnings-per-share came in at $0.89, beating estimates by $0.38.
Source Fool.com
