Upstart Holdings, Inc. SPEC Shares Surge on Partnership News and Market Sentiment

Upstart Holdings, Inc. SPEC shares saw an increase in trading on Monday, continuing the positive trend that started last week with a 17% rise when the company revealed a new partnership. This boost followed the announcement of a collaboration with Texans Credit Union, one of the significant credit unions in Texas, boasting more than 123,000 members and $2.2 billion in assets. Michael Lock, Upstart’s Senior Vice President of Lending Partnerships, expressed pride in having Texans Credit Union join the Upstart Referral Network, highlighting the opportunity for Texans to access personal loans to achieve their financial goals.

Last week’s mild inflation data boosted stocks in the financial sector, further stimulating the rise of Upstart shares. The company is currently a hot topic on social media, attracting significant attention due to its high short interest combined with substantial trading volume. Analysts have varying opinions on Upstart, with three holding bearish recommendations and none being bullish. The average 1-year price target stands at $16.62, implying a potential downside of 44.64%. However, price targets range widely between Wall Street analysts, from a high of $25.50 to a low of $10.

At the time of this publication, Upstart Holdings shares were up by 8.82% at $29.50, reflecting the positive market sentiment surrounding the company’s recent developments and increasing trading activity. The ongoing interest in Upstart’s stock highlights the impact of company announcements and external economic factors on investor behavior within the financial sector.