Barclays Has Lowered Expectations for Upstart (NASDAQ:UPST) Stock Price

Upstart (NASDAQ:UPST) had its target price reduced by equities research analysts at Barclays from $93.00 to $42.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective points to a potential upside of 3.83% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Bank of America boosted their target price on Upstart from $33.00 to $39.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. upgraded shares of Upstart from an “underweight” rating to a “neutral” rating and upped their target price for the company from $57.00 to $79.00 in a research report on Wednesday, February 12th. B. Riley upgraded shares of Upstart from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $49.00 to $105.00 in a research report on Wednesday, February 12th. Needham & Company LLC increased their price objective on shares of Upstart from $100.00 to $108.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Finally, The Goldman Sachs Group raised their price objective on shares of Upstart from $13.50 to $15.00 and gave the company a “sell” rating in a research note on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $69.46.

Upstart Trading Up 1.2 %

UPST stock opened at $40.45 on Monday. The business’s 50 day moving average is $56.22 and its 200-day moving average is $60.37. Upstart has a 1-year low of $20.60 and a 1-year high of $96.43. The firm has a market cap of $3.79 billion, a P/E ratio of -27.71 and a beta of 2.39.

Upstart (NASDAQ:UPST) last announced its earnings results on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.02. Upstart had a negative return on equity of 25.87% and a negative net margin of 20.20%. Sell-side analysts forecast that Upstart will post -0.03 EPS for the current year.

Insider Activity

In other Upstart news, insider Natalia Mirgorodskaya sold 794 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $79.02, for a total value of $62,741.88. Following the sale, the insider now owns 21,985 shares in the company, valued at approximately $1,737,254.70. The trade was a 3.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Paul Gu sold 12,007 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $79.02, for a total value of $948,793.14. Following the transaction, the chief technology officer now directly owns 1,006,599 shares of the company’s stock, valued at approximately $79,541,452.98. This trade represents a 1.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,395 shares of company stock worth $2,638,828 over the last quarter. 18.06% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in UPST. SG Americas Securities LLC bought a new stake in Upstart during the 1st quarter worth about $1,639,000. Simplicity Wealth LLC acquired a new stake in shares of Upstart in the first quarter valued at about $1,712,000. GAMMA Investing LLC raised its holdings in Upstart by 23.3% during the first quarter. GAMMA Investing LLC now owns 1,662 shares of the company’s stock worth $77,000 after acquiring an additional 314 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in Upstart by 12,752.4% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,699 shares of the company’s stock valued at $124,000 after purchasing an additional 2,678 shares during the last quarter. Finally, Merit Financial Group LLC boosted its position in Upstart by 19.7% during the first quarter. Merit Financial Group LLC now owns 5,263 shares of the company’s stock valued at $242,000 after purchasing an additional 867 shares during the last quarter. 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.