Upstart Holdings, Inc. (UPST) shares rallied 13% in the last trading session to close at $33.36. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 6.1% gain over the past four weeks.
The stock rose likely driven by positive momentum in the fintech lending sector and broader market optimism.
This company is expected to post quarterly FFO of $0.39 per share in its upcoming report, which represents a year-over-year change of +30%. Revenues are expected to be $289.36 million, up 35.6% from the year-ago quarter.
FFO and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in FFO estimate revisions are strongly correlated with near-term stock price movements.
For Upstart, the consensus FFO per share estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in FFO estimate revisions. So, make sure to keep an eye on UPST going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Upstart belongs to the Zacks Financial - Miscellaneous Services industry. Another stock from the same industry, Brookfield Asset Management (BAM), closed the last trading session 2.8% higher at $48.83. Over the past month, BAM has returned 6.7%.
Brookfield's consensus FFO per share estimate for the upcoming report has changed -2.8% over the past month to $0.43. Compared to the company's year-ago FFO per share, this represents a change of +7.5%. Brookfield currently boasts a Zacks Rank of #3 (Hold).
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Upstart Holdings, Inc. (UPST): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).