Upstart (NASDAQ:UPST) Price Target Raised to $39.00

Upstart (NASDAQ:UPST) had its target price raised by Bank of America from $33.00 to $39.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has an underperform rating on the stock.

Several other brokerages also recently issued reports on UPST. Wedbush upped their price objective on Upstart from $60.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. JPMorgan Chase & Co. upgraded Upstart from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $57.00 to $79.00 in a research report on Wednesday. B. Riley upgraded Upstart from a “neutral” rating to a “buy” rating and upped their price objective for the company from $49.00 to $105.00 in a research report on Wednesday. Citigroup upgraded Upstart from a “neutral” rating to a “buy” rating and upped their price objective for the company from $56.00 to $87.00 in a research report on Friday, November 8th. Finally, Needham & Company LLC upped their price objective on Upstart from $100.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $68.92.

Upstart Stock Performance

Upstart stock opened at $82.42 on Wednesday. The firm has a market capitalization of $7.52 billion, a price-to-earnings ratio of -42.70 and a beta of 2.25. Upstart has a fifty-two week low of $20.60 and a fifty-two week high of $96.43. The stock’s fifty day moving average is $68.10 and its two-hundred day moving average is $55.22.

Upstart (NASDAQ:UPST) last posted its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.02. Upstart had a negative return on equity of 32.57% and a negative net margin of 30.15%. As a group, sell-side analysts forecast that Upstart will post -2.18 EPS for the current fiscal year.

Insider Transactions at Upstart

In other news, CEO Dave Girouard sold 41,667 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $62.60, for a total value of $2,608,354.20. Following the transaction, the chief executive officer now directly owns 57,138 shares in the company, valued at $3,576,838.80. This trade represents a 42.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Natalia Mirgorodskaya sold 1,511 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $69.85, for a total value of $105,543.35. Following the completion of the transaction, the insider now owns 20,007 shares in the company, valued at approximately $1,397,488.95. This trade represents a 7.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 241,201 shares of company stock worth $17,003,724 in the last three months. 18.06% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Upstart

Large investors have recently modified their holdings of the stock. Rakuten Securities Inc. acquired a new stake in shares of Upstart in the fourth quarter valued at about $31,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Upstart in the third quarter valued at about $35,000. BNP Paribas acquired a new stake in shares of Upstart in the third quarter valued at about $37,000. Blue Trust Inc. grew its stake in shares of Upstart by 125.3% in the third quarter. Blue Trust Inc. now owns 989 shares of the company’s stock valued at $40,000 after buying an additional 550 shares in the last quarter. Finally, Hollencrest Capital Management acquired a new stake in shares of Upstart in the third quarter valued at about $40,000. Institutional investors and hedge funds 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.