Upstart (NASDAQ:UPST) Receives Market Perform Rating from JMP Securities

JMP Securities restated their market perform rating on shares of Upstart (NASDAQ:UPST) in a research note published on Wednesday, Benzinga reports.

Several other research firms have also issued reports on UPST. Mizuho lifted their target price on shares of Upstart from $19.00 to $23.00 and gave the company an underperform rating in a report on Thursday, January 18th. Bank of America assumed coverage on shares of Upstart in a report on Thursday, April 4th. They set an underperform rating and a $22.00 target price for the company. JPMorgan Chase & Co. lowered their target price on shares of Upstart from $26.00 to $24.00 and set an underweight rating for the company in a report on Wednesday, February 14th. Finally, Piper Sandler reiterated a neutral rating and set a $28.00 target price on shares of Upstart in a report on Tuesday, March 19th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $26.00.

Upstart Stock Performance

Shares of UPST opened at $22.44 on Wednesday. Upstart has a one year low of $11.93 and a one year high of $72.58. The company has a 50-day simple moving average of $26.10 and a two-hundred day simple moving average of $29.62.

Upstart (NASDAQ:UPST) last issued its quarterly earnings data on Tuesday, February 13th. The company reported ($0.51) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.05. Upstart had a negative net margin of 46.76% and a negative return on equity of 35.47%. The business had revenue of $140.31 million during the quarter, compared to analyst estimates of $135.28 million. As a group, equities research analysts predict that Upstart will post -2.19 EPS for the current year.

Insider Buying and Selling

In related news, CFO Sanjay Datta sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $32.62, for a total value of $32,620.00. Following the completion of the transaction, the chief financial officer now directly owns 356,090 shares in the company, valued at approximately $11,615,655.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Upstart news, insider Natalia Mirgorodskaya sold 1,919 shares of Upstart stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $24.30, for a total value of $46,631.70. Following the completion of the sale, the insider now owns 28,246 shares of the company’s stock, valued at approximately $686,377.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Sanjay Datta sold 1,000 shares of Upstart stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $32.62, for a total transaction of $32,620.00. Following the completion of the sale, the chief financial officer now directly owns 356,090 shares of the company’s stock, valued at approximately $11,615,655.80. The disclosure for this sale can be found here. Insiders sold a total of 69,777 shares of company stock worth $1,864,629 in the last three months. Insiders own 18.06% of the company’s stock.

Institutional Investors Weigh In On Upstart

A number of large investors have recently added to or reduced their stakes in UPST. Norges Bank bought a new stake in Upstart in the 4th quarter worth approximately $11,225,000. Vanguard Group Inc. grew its position in shares of Upstart by 16.9% during the 1st quarter. Vanguard Group Inc. now owns 5,822,210 shares of the company’s stock valued at $635,145,000 after acquiring an additional 840,668 shares during the period. Morgan Stanley grew its position in shares of Upstart by 65.6% during the 3rd quarter. Morgan Stanley now owns 1,914,933 shares of the company’s stock valued at $54,652,000 after acquiring an additional 758,669 shares during the period. Northern Trust Corp grew its position in shares of Upstart by 141.6% during the 2nd quarter. Northern Trust Corp now owns 710,654 shares of the company’s stock valued at $25,449,000 after acquiring an additional 416,513 shares during the period. Finally, Pathstone Family Office LLC bought a new stake in shares of Upstart during the 3rd quarter valued at $11,332,000. Institutional investors own 63.01% of the company’s stock.

Upstart Company Profile

Upstart Holdings, Inc, together with its subsidiaries, operates a cloud-based artificial intelligence (AI) lending platform in the United States. Its platform includes personal loans, automotive retail and refinance loans, home equity lines of credit, and small dollar loans that connects consumer demand for loans to its to bank and credit unions.