Upstart (NASDAQ:UPST) Given New $93.00 Price Target at Barclays

Upstart (NASDAQ:UPST) had its price objective upped by equities research analysts at Barclays from $80.00 to $93.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s target price would suggest a potential upside of 11.90% from the company’s current price.

A number of other research firms also recently weighed in on UPST. Redburn Atlantic raised Upstart from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $37.00 to $95.00 in a report on Tuesday, December 3rd. Needham & Company LLC lifted their target price on Upstart from $100.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Bank of America lifted their target price on Upstart from $33.00 to $39.00 and gave the stock an “underperform” rating in a report on Wednesday, February 12th. Piper Sandler reissued an “overweight” rating and set a $105.00 target price (up previously from $85.00) on shares of Upstart in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. raised Upstart from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $57.00 to $79.00 in a research note on Wednesday, February 12th. 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. According to data from MarketBeat.com, Upstart has an average rating of “Hold” and a consensus target price of $73.38.

Upstart Trading Down 4.4 %

NASDAQ:UPST opened at $83.11 on Tuesday. Upstart has a 1-year low of $20.60 and a 1-year high of $96.43. The firm has a fifty day simple moving average of $68.57 and a 200 day simple moving average of $56.65. The stock has a market capitalization of $7.58 billion, a PE ratio of -56.92 and a beta of 2.25.

Upstart (NASDAQ:UPST) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. Upstart had a negative net margin of 20.20% and a negative return on equity of 26.22%. On average, equities analysts predict that Upstart will post -0.51 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Upstart news, CTO Paul Gu sold 87,600 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $69.39, for a total value of $6,078,564.00. Following the sale, the chief technology officer now owns 863,065 shares of the company’s stock, valued at $59,888,080.35. This trade represents a 9.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Dave Girouard sold 41,667 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $62.60, for a total value of $2,608,354.20. Following the completion of the sale, the chief executive officer now directly owns 57,138 shares in the company, valued at approximately $3,576,838.80. The trade was a 42.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 193,983 shares of company stock worth $13,598,414 in the last quarter. 18.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On Upstart

A number of large investors have recently modified their holdings of UPST. Rakuten Securities Inc. purchased a new position in Upstart in the 4th quarter worth approximately $31,000. Virtus Fund Advisers LLC purchased a new position in Upstart in the 4th quarter worth approximately $32,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Upstart in the 3rd quarter worth approximately $35,000. BNP Paribas purchased a new position in Upstart in the 3rd quarter worth approximately $37,000. Finally, Hollencrest Capital Management purchased a new position in Upstart in the 3rd quarter worth approximately $40,000. 63.01% of the stock is owned by hedge funds and other institutional investors.

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.