Why Upstart Shares Are Falling

Upstart Holdings Inc UPST shares are trading lower by 7% at $334.96 after Jefferies downgraded the stock from Buy to Hold.

Upstart Holdings shares were also trading lower last week after B of A Securities downgraded the stock from Neutral to Underperform and announced a $300 price target.

Upstart Holdings provides credit services. The company provides a proprietary, cloud-based, artificial intelligence lending platform. The platform aggregates consumer demand for loans and connects it to the network of Upstart AI-enabled bank partners. The revenue of the company is primarily comprised of fees paid by banks.

Upstart has a 52-week high of $401.49 and a 52-week low of $22.61.