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Upstart Holdings, Inc. - UPST STOCK NEWS

Welcome to our dedicated page for Upstart Holdings news (Ticker: UPST), a resource for investors and traders seeking the latest updates and insights on Upstart Holdings stock.

Upstart Holdings, Inc. (symbol: UPST) is a pioneering financial technology company that leverages artificial intelligence (AI) and machine learning to transform the credit lending process. Founded by ex-Googlers, Upstart has revolutionized the lending industry by using advanced algorithms to assess credit risk and automate the borrowing process, making it more efficient and accessible.

Upstart's core business revolves around its proprietary, cloud-based AI lending platform, which aggregates consumer demand for loans and connects it to a network of AI-enabled bank partners. This platform supports a variety of loan types, including personal loans, automotive retail and refinance loans, home equity lines of credit, and small-dollar loans.

One of Upstart's key offerings is their direct-to-consumer lending platform, which has achieved impressive credit performance and garnered the industry's highest consumer ratings. Additionally, Upstart extends its technology to banks, credit unions, and other partners through a SaaS product known as Powered by Upstart. This service allows financial institutions to integrate advanced AI-driven credit assessment tools, improving their lending efficiency and customer satisfaction.

Recent achievements include expanding their product portfolio and forging significant partnerships with leading financial institutions. The company's latest projects focus on enhancing their AI models to provide even more accurate risk assessments and expanding their reach within the fintech ecosystem.

Upstart is financially robust, continuously innovating, and committed to providing excellent services to both consumers and partners. For more details about their operations and opportunities, visit Upstart About and Upstart Careers.

Stay updated with the latest news and developments from Upstart Holdings, Inc.:

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Upstart Holdings, Inc. (NASDAQ: UPST) plans to release its fourth quarter and fiscal year 2022 business and financial results on February 14, 2023, after market close. A conference call will follow at 1:30 p.m. PT / 4:30 p.m. ET. Interested parties can access earnings reports and presentations on Upstart’s investor relations website, ir.upstart.com. Upstart leverages its AI lending platform to improve approval rates and lower loss rates, aiming to enhance affordable credit access. The company was founded in 2012 and is headquartered in San Mateo, California.

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Carver Federal Savings Bank has partnered with Upstart, a leading AI lending marketplace, to enhance access to personal loans for middle-income communities. This collaboration aims to utilize Upstart's AI technology to assess creditworthiness beyond traditional credit scores, promoting economic empowerment. Carver, which became an Upstart lending partner in August 2022, will offer tailored loan offers to qualified applicants via the Upstart Referral Network. The partnership aims to provide affordable credit and improve the online lending experience for consumers.

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Upstart Holdings, Inc. (NASDAQ: UPST) reported Q3 2022 financial results, showing total revenue of $157 million, a 31% decline year-over-year. The company experienced a 48% drop in transaction volume, originating 188,519 loans worth $1.9 billion. A loss from operations amounted to ($58.1 million), contrasting with a profit of $28.6 million last year. Despite a contribution profit increase of 0.1%, adjusted EBITDA fell to ($14.4 million). For Q4 2022, Upstart projects a revenue range of $125 to $145 million.

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Upstart (NASDAQ: UPST) announces its Auto Retail platform has been certified as a Honda Digital Solutions partner, enhancing car purchasing for Honda dealers and customers nationwide. With the platform, Upstart Auto Retail optimizes the buying journey, allowing seamless transitions between online and in-store experiences. This partnership aims to boost sales and profitability for Honda through improved customer relations and experience. Upstart's platform, recognized as the fastest growing digital retail software, continues to add significant OEM certifications.

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Commonwealth Credit Union, serving over 117,000 members in Central Kentucky and the Louisville Metro Area, has partnered with Upstart (NASDAQ: UPST) to offer personal loans to more residents. This collaboration expands access to affordable credit via Upstart's AI lending platform. Since becoming a partner in June 2022, Commonwealth has utilized the Upstart Referral Network to provide tailored loan offers to qualified applicants. Both organizations aim to improve financial situations for more Kentuckians, with Commonwealth emphasizing its commitment to community service.

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Upstart Holdings, Inc. (NASDAQ: UPST) will release its third quarter fiscal year 2022 results on November 8, 2022, after market close. A conference call will be held at 1:30 p.m. PT / 4:30 p.m. ET to discuss these results. Interested parties can access the earnings press release and investor presentation on Upstart’s investor relations website. The live webcast will also be available on their site, with an archived version to follow.

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The Atlantic Federal Credit Union, serving Essex and Union counties in New Jersey, has partnered with Upstart (NASDAQ: UPST) to offer personal loans to its members. This collaboration enhances the credit union's ability to provide loans to a diverse range of borrowers through Upstart's AI-driven platform. Since September 2021, The Atlantic has been part of Upstart's Referral Network, enabling seamless applications for qualified loan applicants. This partnership aims to improve lending experiences and expand access to credit.

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Upstart has partnered with Vantage West Credit Union to offer personal loans to Arizona members, expanding credit access. The collaboration aims to streamline the loan process, allowing borrowers to apply and receive decisions quickly through the Upstart platform. Vantage West, with over 170,000 members and $2.6 billion in assets, is part of the Upstart Referral Network, enhancing their lending capabilities to qualified applicants. This initiative highlights Upstart's focus on using AI to improve lending efficiency and borrower experience.

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Alliant Credit Union has partnered with Upstart (NASDAQ: UPST) to provide AI-powered personal loans across the U.S. Alliant, one of the top 10 credit unions with over $15 billion in assets, aims to improve lending efficiency through this collaboration. The partnership allows qualified personal loan applicants to receive tailored offers and complete the application process swiftly, enhancing the digital experience. Upstart's AI platform is expected to expand Alliant's reach, enabling better access to affordable credit for its members.

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FAQ

What is the current stock price of Upstart Holdings (UPST)?

The current stock price of Upstart Holdings (UPST) is $64.98 as of February 5, 2025.

What is the market cap of Upstart Holdings (UPST)?

The market cap of Upstart Holdings (UPST) is approximately 5.8B.

What does Upstart Holdings, Inc. do?

Upstart Holdings, Inc. uses artificial intelligence to transform credit lending, offering various loan types via its proprietary AI lending platform.

What types of loans does Upstart offer?

Upstart offers personal loans, automotive retail and refinance loans, home equity lines of credit, and small-dollar loans.

How does Upstart's AI lending platform work?

The platform aggregates consumer demand for loans and connects it to a network of AI-enabled bank partners, using advanced algorithms to assess credit risk.

What is 'Powered by Upstart'?

'Powered by Upstart' is a SaaS offering that allows banks, credit unions, and other partners to use Upstart's AI-driven credit assessment tools.

Who founded Upstart Holdings, Inc.?

Upstart was founded by ex-Googlers who aimed to innovate the credit lending industry with AI and machine learning.

How can I learn more about Upstart?

You can visit Upstart's official website for more information at https://www.upstart.com/about.

Is Upstart a financially stable company?

Yes, Upstart is financially robust and continuously innovating within the fintech industry.

What recent achievements has Upstart made?

Recent achievements include expanding their product portfolio and forming significant partnerships with leading financial institutions.

Where can I find career opportunities at Upstart?

You can explore career opportunities at Upstart by visiting https://www.upstart.com/careers.

How can I stay updated with Upstart's latest news?

Stay updated by following Upstart's latest news and developments listed on their website and other financial news sources.
Upstart Holdings, Inc.

Nasdaq:UPST

UPST Rankings

UPST Stock Data

5.81B
79.65M
12.63%
57.5%
21.18%
Credit Services
Finance Services
Link
United States of America
SAN MATEO