Schaeffer's Top Stock Picks for '25

Upstart Holdings Stock Plummets on Downgrade

The shares recently hit two-year highs

Deputy Editor
Dec 2, 2024 at 11:08 AM
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The shares of artificial intelligence (AI) lending marketplace Upstart Holdings Inc (NASDAQ:UPST) are down 13.9% at $67.83 at last glance, after a downgrade from J.P. Morgan Securities to "underweight" from "neutral," though the firm also added a price-target hike to $57 from $45. The analyst in coverage expects the funding environment to improve in 2025. 

Pacing for its worst single-day percentage loss since February, Upstart stock is pulling back from its Nov. 11, two-year high of $86.07. Shares are testing recent support at their 20-day moving average, and still sport a 65.4% year-to-date lead.

Today's bear note adds to the pessimism already surrounding UPST. Of the 16 in coverage, only three brokerages carry a "buy" or better rating. Plus, the 12-month consensus price target of $50.18 is a 25.9% discount to current levels. 

When weighing in on UPST's next move, options look like a decent way to go. The equity's Schaeffer's Volatility Index (SVI) of 84% sits in the low 18th percentile of its annual range, meaning options traders are pricing in low volatility expectations at the moment. 

 
 

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