Should You Buy Upstart (UPST) Stock Right Now?

Do you know about Upstart (NASDAQ: UPST)? It's a fintech (financial technology) company making good use of artificial intelligence (AI) in the lending arena. It's essentially a new kind of credit bureau, and it describes itself as "the leading AI lending marketplace, connecting millions of consumers to more than 100 banks and credit unions ... With Upstart AI, lenders can approve more borrowers at lower rates. ... More than 90% of loans are fully automated, with no human intervention by Upstart." See? Upstart is intriguing!Image source: Getty Images.How's Upstart been doing? Well, in its second quarter, it originated 372,599 loans, up 159% year over year, and took in $257 million in revenue, about twice the year-earlier level. Its algorithm seems quite effective, allowing for 43% more loan approvals, often at lower interest rates. This is a win-win scenario for lenders, who want to lend, and for borrowers, who want lower interest rates. The company is also expanding into other promising realms, such as auto loans.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool