Upstart Holdings, Inc. (NASDAQ:UPST) Receives Average Rating of “Hold” from Analysts

Upstart Holdings, Inc. (NASDAQ:UPST) has been assigned an average recommendation of “Hold” from the fourteen ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $71.62.

UPST has been the subject of several research analyst reports. Morgan Stanley reduced their price target on shares of Upstart from $70.00 to $50.00 and set an “equal weight” rating for the company in a report on Wednesday, May 7th. Barclays upped their price target on shares of Upstart from $42.00 to $47.00 and gave the company an “equal weight” rating in a report on Monday, May 12th. Bank of America upgraded shares of Upstart from an “underperform” rating to a “neutral” rating and set a $53.00 price target for the company in a report on Tuesday, April 29th. The Goldman Sachs Group upgraded shares of Upstart to a “sell” rating and set a $71.00 target price for the company in a report on Monday, July 14th. Finally, Stephens began coverage on shares of Upstart in a report on Thursday, June 12th. They set an “equal weight” rating and a $55.00 target price for the company.

Upstart Stock Performance

Shares of NASDAQ:UPST opened at $78.36 on Friday. The company has a market capitalization of $7.46 billion, a PE ratio of -104.48 and a beta of 2.37. Upstart has a 52 week low of $20.60 and a 52 week high of $96.43. The company has a 50 day moving average price of $59.38 and a two-hundred day moving average price of $57.35.

Upstart (NASDAQ:UPST) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.11. The company had revenue of $213.37 million during the quarter, compared to analysts’ expectations of $201.08 million. Upstart had a negative net margin of 9.20% and a negative return on equity of 15.27%. The business’s quarterly revenue was up 67.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.31) earnings per share. On average, sell-side analysts forecast that Upstart will post -0.03 earnings per share for the current year.

Insider Buying and Selling at Upstart

In other Upstart news, CFO Sanjay Datta sold 13,512 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $46.97, for a total value of $634,658.64. Following the completion of the sale, the chief financial officer owned 311,356 shares in the company, valued at $14,624,391.32. This trade represents a 4.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Natalia Mirgorodskaya sold 4,000 shares of the stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $80.07, for a total transaction of $320,280.00. Following the completion of the sale, the insider owned 24,623 shares of the company’s stock, valued at approximately $1,971,563.61. This represents a 13.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 151,650 shares of company stock worth $9,665,841 over the last quarter. 16.67% of the stock is currently owned by insiders.

Institutional Trading of Upstart

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Upstart by 2.8% in the first quarter. Vanguard Group Inc. now owns 8,014,656 shares of the company’s stock valued at $368,915,000 after purchasing an additional 221,204 shares during the period. Two Sigma Investments LP raised its position in shares of Upstart by 20.1% in the fourth quarter. Two Sigma Investments LP now owns 1,922,770 shares of the company’s stock valued at $118,385,000 after purchasing an additional 321,366 shares during the period. Fred Alger Management LLC raised its position in shares of Upstart by 53.6% in the fourth quarter. Fred Alger Management LLC now owns 1,915,121 shares of the company’s stock valued at $117,914,000 after purchasing an additional 668,282 shares during the period. Geode Capital Management LLC raised its position in shares of Upstart by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 1,846,438 shares of the company’s stock valued at $113,711,000 after purchasing an additional 29,664 shares during the period. Finally, Two Sigma Advisers LP raised its position in shares of Upstart by 190.2% in the fourth quarter. Two Sigma Advisers LP now owns 1,709,300 shares of the company’s stock valued at $105,242,000 after purchasing an additional 1,120,300 shares during the period. Institutional investors and hedge funds own 63.01% of the company’s stock.

About Upstart

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.