Piper Sandler raised the firm’s price target on Upstart to $28 from $27 and keeps a Neutral rating on the shares. The firm notes Q4 results came in ahead of expectations, driven by a robust +13% quarter-over-quarter in loan volumes, offset by -9% in loan sizes. Q1 guidance was below the Street, and Piper expects consensus 2024 estimates to move closer to its estimates.
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