UWM Holdings

UWMC · NYSE

$1.10+$0.04 (+3.77%)TodayMarket closed · Oct 20, 7:54 PM ET

Prev close $1.06

UWMC analyst rating

BuyConsensus of 10 analysts over the last 12 months. 60% rate it a buy.

Strong buy0
Buy6
Hold4
Underperform0
Sell0

12-month price target · 11 analysts

Average $2.75 (+149.8% upside)

Low: $1.51
Now: $1.10
High: $6.82

Upgrades and downgrades

The latest rating actions, newest first

UWMC analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
BTIG	Oct 12, 2026	Downgrade	Buy → Neutral	—	38%
Barclays	Aug 10, 2026	Maintains	Overweight	$4.00 → $2.00	30%
Keefe, Bruyette & Woods	Aug 10, 2026	Maintains	Outperform	$3.75 → $2.75	53%
Stephens & Co.	Aug 7, 2026	Maintains	Equal-Weight	$3.00 → $2.00	59%
BTIG	Aug 7, 2026	Maintains	Buy	$4.00 → $2.00	38%
Citizens	Jul 29, 2026	Upgrade	Market Perform → Market Outperform	$3.00	25%
Morgan Stanley	Jul 20, 2026	Maintains	Equal-Weight	$5.00 → $3.00	57%
Barclays	Jul 7, 2026	Maintains	Overweight	$5.00 → $4.00	30%
Keefe, Bruyette & Woods	Jun 25, 2026	Upgrade	Market Perform → Outperform	$4.50 → $3.75	53%
BTIG	Jun 24, 2026	Maintains	Buy	$4.00	38%

The case for and against

Updated Oct 16, 2026

Bull case

UWM Holdings is viewed positively because its servicing and mortgage businesses are still scaling, with 2Q servicing revenues rising 23% to $221M, servicing UPB up 17% to $248B, and total MSR UPB increasing 54% to $5.3B, which supports recurring fee income and asset value growth. The company also generated $140M of interest income on $9.6B of mortgage LHFS at a 5.46% yield, showing it can monetize its balance sheet even in a higher-rate environment. While estimates for 2026 through 2028 were lowered to reflect a costly capital raise and weaker 2Q results, the thesis remains constructive because successful preferred repayment through cash flow or additional debt could improve earnings and reduce shareholder dilution.

Bear case

UWM Holdings is facing a fundamentally weaker outlook because higher mortgage rates are suppressing origination volumes, intensifying competition from Rocket, and creating downside risk to market share even as management tries to defend margins. Cash generation is also under pressure, with core operations consuming $780 million in the second quarter and still relying on uncertain MSR sales to approach cash-flow neutrality. The capital structure adds another overhang, as the preferred shares carry a 10% cash coupon or 13% PIK plus 10% accretion, raising dilution risk and limiting upside for common shareholders.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.