Upstart (NASDAQ:UPST) Upgraded by Wedbush to “Neutral”

Upstart (NASDAQ:UPST) was upgraded by analysts at Wedbush from an “underperform” rating to a “neutral” rating in a research note issued on Monday, Briefing.com reports. The firm currently has a $45.00 target price on the stock, up from their prior target price of $10.00. Wedbush’s price objective would indicate a potential downside of 4.30% from the company’s previous close.

Several other equities analysts have also weighed in on UPST. Citigroup raised Upstart from a “sell” rating to a “neutral” rating and increased their price objective for the company from $15.00 to $33.00 in a report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price objective on Upstart from $27.00 to $30.00 and gave the company an “underweight” rating in a research note on Tuesday, August 20th. Mizuho lifted their target price on shares of Upstart from $33.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Piper Sandler raised their price objective on shares of Upstart from $28.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Barclays boosted their target price on shares of Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $31.50.

Upstart Stock Performance

Upstart stock opened at $47.02 on Monday. The stock has a market cap of $4.21 billion, a PE ratio of -20.09 and a beta of 2.01. Upstart has a fifty-two week low of $19.84 and a fifty-two week high of $49.62. The firm’s 50-day simple moving average is $38.33 and its 200 day simple moving average is $29.49.

Upstart (NASDAQ:UPST) last released its earnings results on Tuesday, August 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.22. Upstart had a negative return on equity of 32.01% and a negative net margin of 38.05%. The company had revenue of $127.63 million during the quarter, compared to analyst estimates of $124.55 million. During the same period in the prior year, the company posted ($0.34) earnings per share. Upstart’s quarterly revenue was down 6.0% on a year-over-year basis. As a group, analysts predict that Upstart will post -2.39 EPS for the current fiscal year.

Insider Buying and Selling

In other Upstart news, CFO Sanjay Datta sold 1,000 shares of Upstart stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $26.31, for a total transaction of $26,310.00. Following the completion of the sale, the chief financial officer now owns 372,398 shares of the company’s stock, valued at $9,797,791.38. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CTO Paul Gu sold 10,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $40.01, for a total value of $400,100.00. Following the completion of the sale, the chief technology officer now owns 894,629 shares of the company’s stock, valued at approximately $35,794,106.29. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Sanjay Datta sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $26.31, for a total value of $26,310.00. Following the transaction, the chief financial officer now owns 372,398 shares in the company, valued at approximately $9,797,791.38. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 187,459 shares of company stock worth $7,461,450. Corporate insiders own 18.06% of the company’s stock.

Institutional Trading of Upstart

Institutional investors have recently made changes to their positions in the stock. Magnetar Financial LLC increased its holdings in Upstart by 1,106.7% during the 1st quarter. Magnetar Financial LLC now owns 97,281 shares of the company’s stock valued at $2,616,000 after purchasing an additional 89,219 shares during the period. Vanguard Group Inc. increased its stake in shares of Upstart by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 7,013,918 shares of the company’s stock valued at $286,589,000 after buying an additional 157,719 shares during the period. LifePro Asset Management bought a new position in shares of Upstart during the third quarter valued at approximately $2,008,000. Baader Bank Aktiengesellschaft lifted its stake in Upstart by 273.8% in the second quarter. Baader Bank Aktiengesellschaft now owns 41,115 shares of the company’s stock worth $969,000 after acquiring an additional 30,115 shares during the period. Finally, Entropy Technologies LP bought a new stake in Upstart in the first quarter valued at $1,358,000. Hedge funds and other 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.