Upstart Holdings, Inc. (UPST)

Upstart's stock experienced volatility in the past six months due to strong financial results, credit risk concerns, and strategic developments. In November 2025, strong Q3 results were announced, but the stock declined due to softer Q4 guidance and concerns about rising credit risk; a $1.5 billion forward-flow agreement with Castlelake was also announced. In December 2025, Upstart expanded partnerships with Tech CU for personal and auto refinance loans. In January 2026, MyPoint Credit Union selected Upstart for personal lending, and analysts had mixed ratings on the stock. The stock price as of January 9, 2026, was $49.12, a 13.93% decline from January 13, 2025.

Demand seasonality for Upstart's products is influenced by macroeconomic conditions and consumer behavior. The company's AI models adapt to seasonal repayment patterns. Consumer demand has shown rapid growth, but financial performance is tied to macroeconomic conditions. Expansion into new product categories helps diversify demand drivers.

Upstart Holdings, Inc. is an AI lending marketplace partnering with banks and credit unions to provide consumer loans. It operates in the fintech and credit technology sectors, using AI models to assess borrower creditworthiness with non-traditional variables. Upstart's platform offers personal loans, auto retail and refinance loans, HELOCs, and small dollar loans, accessible through Upstart.com, lender-branded websites, and auto dealerships.

Upstart Holdings, Inc. primarily serves the United States. The company's headquarters are located in San Mateo, California, with another significant presence in Columbus, Ohio.

Upstart's brand reputation has been tied to the performance of its AI lending platform amidst evolving macroeconomic conditions. Concerns about AI model performance arose in mid-2022 due to tightening credit conditions, leading to underperformance. Upstart has since improved its AI models, including launching an upgraded Upstart Macro Index. Strong Q3 2025 results positively impacted its reputation, and continued partnerships with banks and credit unions reinforce confidence in Upstart's platform.

Upstart Holdings, Inc. has a diverse ownership structure, with approximately 66.65% held by institutional shareholders and 43.29% by insiders. Major institutional owners include Vanguard Group Inc., BlackRock, Inc., and Susquehanna International Group, Llp. Key individual owners include Daniel S. Loeb, the largest individual shareholder, and Dave Girouard, CEO and co-founder.