Where Will Upstart Stock Be in 1 Year?
It's been another wild ride of a year for Upstart Holdings (NASDAQ: UPST) stock. It's up more than 250% to close out the year, so if you bought at the right time, you may have made some major money. But "if" is the important word here, because there were huge highs and lows in 2023. You can't time the market, but if you had the luck to buy at the right time and stick it out, you came out ahead, at least this year.
What about next year? Is there going to be the same volatility that has plagued the stock almost from the beginning? If you're ahead now, should you pocket the change and breathe a sigh of relief? Or should you hold on for more fun? Let's see where Upstart stock could be at this time next year.
Upstart caught investor attention when it went public in December 2020 because it seemed like an exciting artificial intelligence (AI) disruptor in a huge industry highly in need of change. Creditors have been using the same traditional credit evaluation tools for decades, and these tools use narrow specifications to determine borrower risk. Upstart's platform, in contrast, operates a machine-learning platform rich with data points that can assess credit risk quickly and easily using a much broader array of criteria. Upstart says that has led to many more loan approvals without increased risk to the lender. Revenue was surging, and Upstart was profitable.
Source Fool.com
