Why Upstart Stock Is Plummeting This Week
Upstart (NASDAQ: UPST) stock is sinking in this week's trading. The company's share price was down 21.9% from last week's market close as of 2:30 p.m. ET this Friday, according to data from S&P Global Market Intelligence.
Upstart published fourth-quarter results after the market closed on Feb. 13. While the company's loss came in lower than expected, sales fell short of the market's target. Additionally, Wall Street doesn't seem to be pleased with the company's forward guidance.
Upstart posted a non-GAAP (generally accepted accounting principles) adjusted loss of $0.11 per share on sales of $140.31 million in the fourth quarter. Meanwhile, the average analyst estimate had called for the business to post an adjusted loss of $0.14 per share on sales of $145.32 million.
Source Fool.com
