Dilok Klaisataporn/iStock via Getty Images AI has sent growth stocks a bout of extreme volatility. Upstart ( UPST ) has been caught in the crossfire, in spite of continuing to post solid growth rates. But rising macro uncertainty as well as the potential for AI-led competition has changed the way I look at the same numbers. I was disappointed by the pause in margin expansion and find the current v...
Dilok Klaisataporn/iStock via Getty Images AI has sent growth stocks a bout of extreme volatility. Upstart ( UPST ) has been caught in the crossfire, in spite of continuing to post solid growth rates. But rising macro uncertainty as well as the potential for AI-led competition has changed the way I look at the same numbers. I was disappointed by the pause in margin expansion and find the current valuation stretched even after the recent fall. I am downgrading the stock to a sell rating. UPST Stock Price I last covered UPST in November , where I upgraded the stock to a buy rating on account of the volatility. That has proven true early as the stock has fallen yet another 36%. Data by YCharts I typically loathe downgrading stocks after a significant drawdown, but the setup here means everything. UPST Stock Key Metrics UPST is a financial tech company that uses artificial intelligence to underwrite loans. This is an AI-first company that has improved its underwriting models based on cycles even before the rise of generative AI. Ironically, the stock might be more popular if it had come public after the rise of AI, but here we are. 2025 Q4 Presentation In the most recent quarter, UPST generated 35% YoY revenue growth to $296 million, slightly exceeding guidance of $288 million. I suspect investors were disappointed by both the steep deceleration in YoY growth (which is understandable due to tough comps) as well as the smaller magnitude of the beat to guidance. 2025 Q4 Presentation The company saw contribution margins contract 400 bps QoQ and 800 bps YoY to 53%, in line with guidance. 2025 Q4 Presentation The company generated $64 million in adjusted EBITDA, exceeding guidance of $63 million. Similar to the top line, I viewed the small beat with disappointment and also note that margins retreated 400 bps QoQ after increasing sequentially to that 26% level in the third quarter. 2025 Q4 Presentation The company generated $19 million in GAAP net income, exceeding guidance o...
The average one-year price target for Wizz Air Holdings (LSE:WIZZ) has been revised to 1,210.89 GBX / share. This is a decrease of 11.03% from the prior estimate of 1,360.97 GBX dated February 21, 2026. The price target is an average of many targets provided b
The average one-year price target for Wizz Air Holdings (LSE:WIZZ) has been revised to 1,210.89 GBX / share. This is a decrease of 11.03% from the prior estimate of 1,360.97 GBX dated February 21, 2026. The price target is an average of many targets provided b
jetcityimage/iStock Editorial via Getty Images In January this year, I issued a buy rating for Verizon's ( VZ ) stock, due to strong financial performance and an apparent undervaluation based on its dividends. Since then, VZ's price climbed significantly and by now reached $50 per share, which was my estimated fair value at that time, based on a dividend discount model. At this point, I no longer ...
jetcityimage/iStock Editorial via Getty Images In January this year, I issued a buy rating for Verizon's ( VZ ) stock, due to strong financial performance and an apparent undervaluation based on its dividends. Since then, VZ's price climbed significantly and by now reached $50 per share, which was my estimated fair value at that time, based on a dividend discount model. At this point, I no longer think that it is attractive to start a new position or to add to an existing one, and I believe a hold rating is more warranted. Despite reporting strong Q4 earnings , I believe that the increased debt YoY and the uncertain interest rate environment warrant caution. Analysis history (Author) Update on the business I believe that Verizon's business remains attractive fundamentally, especially during times of significant market volatility. In the most recent quarter, the firm also impressed with its earnings and subscriber growth figures. Here are a couple of key figures that investors should keep in mind and monitor looking forward. Total postpaid phone net additions in Q4 reached 616,000, making it the strongest quarter of additions since 2019. Revenue grew in the wireless segment, both for equipment and for services. They also managed to add as many as 372,000 broadband customers. All this means that the demand for the firm's services remains strong. Operating metrics (Verizon) Looking forward, Verizon has ambitious plans. First of all, significant cost reduction is foreseen after the Frontier acquisition. Operating cost synergies are expected to reach $1 billion by 2028, and an operational turnaround, which includes a workforce reduction, could lead to $5 billion in cost savings annually. These are significant numbers on the cost side, and I am excited to see how it will play out over the coming years. I do have a positive view on these ambitions, however. It is not only the cost side of things that is appealing. Total retail postpaid phone net additions are expected to i...
A police raid in Dublin triggers unrest in Belgium as the Hidden Assets cops begin another gripping case. Plus, the feverishly awaited grand final of Gladiators. Here’s what to watch this evening 9pm, BBC Four The third series of this hit criminal assets thriller is set between Dublin and Belgium, and it starts with one hell of a stressful opener once more. When DS Claire Wallace (Nora-Jane Noone)...
A police raid in Dublin triggers unrest in Belgium as the Hidden Assets cops begin another gripping case. Plus, the feverishly awaited grand final of Gladiators. Here’s what to watch this evening 9pm, BBC Four The third series of this hit criminal assets thriller is set between Dublin and Belgium, and it starts with one hell of a stressful opener once more. When DS Claire Wallace (Nora-Jane Noone) conducts a raid on a wealthy family home in Ireland, it ends in tragedy – and triggers a case of drugs, diamonds and a series of bombings in Belgium. Hollie Richardson Continue reading...
Pope Leo heads on Saturday to the Mediterranean principality of Monaco, a millionaires’ playground on the French Riviera that is the pontiff’s surprise pick for the first western European trip of his papacy. The US-born pope, a former missionary critical of the wealthy elite, will helicopter in for a day in the world’s second-smallest state, best known for its casinos, luxury yachts and Michelin-s...
Pope Leo heads on Saturday to the Mediterranean principality of Monaco, a millionaires’ playground on the French Riviera that is the pontiff’s surprise pick for the first western European trip of his papacy. The US-born pope, a former missionary critical of the wealthy elite, will helicopter in for a day in the world’s second-smallest state, best known for its casinos, luxury yachts and Michelin-starred dining. In Monte Carlo, billboards featuring mild-mannered, white-cassocked Leo stand in...
Unintended consequences, especially in business, can be painful lessons to learn. A recent unrelated example was Major League Baseball introducing a pitch clock to improve the speed of the game -- it worked well and improved the game, by most accounts. However, the reduced overall game time and the shorter downtime gave fans less time to buy valuable products such as beer, food, and novelties, whi...
Unintended consequences, especially in business, can be painful lessons to learn. A recent unrelated example was Major League Baseball introducing a pitch clock to improve the speed of the game -- it worked well and improved the game, by most accounts. However, the reduced overall game time and the shorter downtime gave fans less time to buy valuable products such as beer, food, and novelties, which is a big moneymaker. Ford Motor Company (NYSE: F) could find itself looking at unintended consequences as it begins its radical production change. More than a century after Ford pioneered the moving assembly line, current CEO Jim Farley thinks the automaker has yet again found a better way of making vehicles. While Ford's Universal EV Production System, and its developing "assembly tree" process, isn't the first time the process has been considered -- Tesla touted a similar thought process years ago -- it has the potential to accelerate Ford into the front of the pack in the race against Chinese competitors for cheaper vehicles and more efficient manufacturing. "It gets Ford into the game," Sam Abuelsamid, vice president of market research at Telemetry, told Automotive News . "I'm not aware of any other legacy automaker that is going down this path to this degree yet -- certainly not GM and Stellantis . If they execute this properly, they're back among the leading pack." Continue reading
John Wells’ stellar medical drama arrives on this side of the pond, while Sergei Loznitsa’s haunting film is a terrifying tale of bureaucratic evil. Here’s the pick of the week’s culture, taken from the Guardian’s best-rated reviews Continue reading...
John Wells’ stellar medical drama arrives on this side of the pond, while Sergei Loznitsa’s haunting film is a terrifying tale of bureaucratic evil. Here’s the pick of the week’s culture, taken from the Guardian’s best-rated reviews Continue reading...
This is simply some deliciously spicy, baked grated potatoes, with an egg on top and a moreish chutney to go with it – you can thank us later Eggs are very Easter-appropriate, and some of my favourite egg recipes come from the egg-obsessed Parsis (descendants of Persian Zoroastrians, who emigrated to India thousands of years ago). Their obsession extends beyond the kitchen, too: achoo-meechoo , fo...
This is simply some deliciously spicy, baked grated potatoes, with an egg on top and a moreish chutney to go with it – you can thank us later Eggs are very Easter-appropriate, and some of my favourite egg recipes come from the egg-obsessed Parsis (descendants of Persian Zoroastrians, who emigrated to India thousands of years ago). Their obsession extends beyond the kitchen, too: achoo-meechoo , for example, is a custom where an egg is waved around a person’s head (six times clockwise, once anti-clockwise), then broken to ward off evil. When it comes to cooking, meanwhile, Parsis will put an egg on anything, and one favourite dish is kanda papeta par eeda , or eggs on potatoes, which I ate when staying with friends in Mumbai’s Malabar Hill and which inspired today’s recipe. Continue reading...
Decision to choose small, wealthy – but very Catholic – state for first European trip has baffled some Vatican observers Pope Leo will travel to Monaco, the semi-enclave famous for casinos and superyachts, on Saturday on his first European trip since being elected pontiff, causing bemusement among some Vatican observers, not least because it comes 488 years after the last papal visit. Leo will tra...
Decision to choose small, wealthy – but very Catholic – state for first European trip has baffled some Vatican observers Pope Leo will travel to Monaco, the semi-enclave famous for casinos and superyachts, on Saturday on his first European trip since being elected pontiff, causing bemusement among some Vatican observers, not least because it comes 488 years after the last papal visit. Leo will travel from the Vatican by helicopter for the one-day trip, and will be greeted at Monaco’s heliport by Prince Albert and his wife, Princess Charlene, before being taken to the palace, which has been the residence of the Grimaldi dynasty since the 13th century. It is the first time a pontiff has visited Monaco since Pope Paul III in 1538. Continue reading...
Luckily, I have learned two phrases that express my helplessness very efficiently The middle one, the youngest one and I are at a car hire desk in an Italian airport. It has taken us a while to get this far, because we had to take a bus to a different terminal. But we’re here now, some way into the process. “You are not skiing?” asks the woman behind the desk. Continue reading...
Luckily, I have learned two phrases that express my helplessness very efficiently The middle one, the youngest one and I are at a car hire desk in an Italian airport. It has taken us a while to get this far, because we had to take a bus to a different terminal. But we’re here now, some way into the process. “You are not skiing?” asks the woman behind the desk. Continue reading...
The Swedish musician decided to pursue motherhood alone, and found it came with a surprising sexual awakening – a story she lays out on her new album, her first in eight years Robyn sits silently, eyes closed, for what feels like a full minute. “Wow,” she says. “This is really deep” It has been eight years since this elder stateswoman of alt-pop released music. She is talking about how, since then...
The Swedish musician decided to pursue motherhood alone, and found it came with a surprising sexual awakening – a story she lays out on her new album, her first in eight years Robyn sits silently, eyes closed, for what feels like a full minute. “Wow,” she says. “This is really deep” It has been eight years since this elder stateswoman of alt-pop released music. She is talking about how, since then, her life has fractured and reassembled. The 46-year-old Swede’s previous album, Honey, was finished in the afterglow of repairing her engagement to director Max Vitali. Now, she’s no longer in that relationship, she’s raising a three-year-old son, Tyko, whom she had by IVF, on her own, and she has also reckoned with the scars of her own childhood, growing up in an exploitative music industry. We meet in a breezy attic above a recording studio in London to talk about her new album, Sexistential – an ode to letting your guard down and feeling things deeply. “Defending my right to be myself and be vulnerable,” she says. She’s wearing biker boots and a mesh hoodie, and has tucked a bomber jacket, two overflowing handbags and a black leather sailor hat into the nooks and crannies of the sofa as if constructing a nest around herself. She’s thrilled to be back. “I’ve never released an album as a parent , so it’s really exciting to work .” She laughs, flashing a chipped tooth. “When I do get time for myself, it’s liberating and fun.” Continue reading...
Adam, 25, a civil servant, meets Tina, 26, who works in advertising What were you hoping for? Good food, good company and hopefully a bit of romance. Continue reading...
Adam, 25, a civil servant, meets Tina, 26, who works in advertising What were you hoping for? Good food, good company and hopefully a bit of romance. Continue reading...