Upstart stock dropped 23% in July, according to data from S&P Global Market Intelligence. Macroeconomic data pointed to continued pressure for lenders, which is Upstart's core business, while ongoing concern about agentic artificial intelligence replacing software-as-a-service products also weighed on the stock. The company reported a 42% year-over-year revenue increase and a near tripling of net income to $16.5 million in the 2026 second quarter, with originations up 50%. Management is targeting a 40% revenue increase for the full year 2026 and a 35% compound annual growth rate through 2028, supported by expansion into auto and home loans where secured originations rose 218% year over year.
