1 Growth Stock Down 76% That Could Soar, According to Wall Street

In December 2021, Wall Street banking giant CitiGroup(NYSE:C)upgraded Upstart stock to a buy and gave it a $350 price target, representing 268% upside from today's price. Citi analyst Peter Christiansen, noting the company's expansion into other lending segments, thinks the current decline in its share price represents a buying opportunity.

But Citi isn't alone. A total of six analysts have a buy rating on Upstart stock, five have a hold, and just one has a sell rating. Their average price target stands at $266, which is 180% higher than where the stock trades today, suggesting there's a broad bullish sentiment for Upstart on Wall Street.

Based on the company's estimated $2.33 in earnings per share for 2022, its stock trades at a forward price-to-earnings multiple of 40. It's more expensive than the technology-centric Nasdaq 100, which trades at a multiple of 23, but Upstart commands a premium for its astronomical growth rates.

It's those growth rates that could make Upstartlook like a bargain for long-term investors when they look back a few years from now.