The Upstart stock price is staring at its lowest level on record after the company published unsatisfactory quarterly results this week. UPST shares have nosedived to $28, which is closer to its record low of $22.56 as analysts slashed their targets. The retreat mirrors other fintech companies like SoFi, Coinbase, Block, and Affirm. Why has UPST crashed? Upstart is a fintech company that uses technology to aggregate most types of loans to individuals and companies. In addition, the firm works with companies in the financial services industry like credit unions and banks to provide them with loan leads. Upstart was a beloved stock at its peak that attracted many retail and institutional investors. Its market cap was north of $30 billion. Upstart stock price plummeted after its weak results and analysts' downgrades. Its revenue rose to $310 million while its profit per share rose to 61 cents. This happened as the firm increased its loan transactions to $4.5 billion. The firm also saw a strong uptick in its auto lending business. It expects its revenue for the second quarter to be between $295 million and $305 million. Also, it believes that it will lose $4 million in the quarter. Meanwhile, the management believes that its revenue for this year will be $1.25 billion. Its previous guidance was $1.4 billion. To justify this guidance, the CEO said: Of course, in the recent weeks and months, it's become apparent that 2022 is shaping up to be a challenging one for the economy and for the financial services industry in particular.” Analysts have slashed their Upstart stock price forecast. For example, Citi slashed its target from $180 to $50 while Piper Sandler moved from neutral to overweight. Others who slashed their ratings are from Wedbush and Atlantic. Upstart stock price forecast The Upstart share price plummeted hard after publishing weak results. As it did that, the shares managed to move below the important support at $75.71. It had struggled to move below this point earlier this year. Now, the stock’s True Strength Indicator and the Ultimate Oscillator have all declined. Similarly, the accumulation and distribution indicator points to strong distribution. Therefore, the UPST stock price will likely keep falling in the near term as worries about growth and high-interest rates remain. This will see it drop to about $15, with the stop being at $30. However, the shares will likely recover in the long-term as investors buy the dip.