Upstart (NASDAQ:UPST) Given New $108.00 Price Target at Needham & Company LLC

Upstart (NASDAQ:UPST) had its target price hoisted by Needham & Company LLC from $100.00 to $108.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts also recently issued reports on the company. Piper Sandler upgraded Upstart from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $31.00 to $85.00 in a research note on Friday, November 8th. BTIG Research raised shares of Upstart from a “sell” rating to a “neutral” rating in a research report on Monday, November 11th. B. Riley upgraded 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 report on Wednesday. Citigroup raised shares of Upstart from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $56.00 to $87.00 in a report on Friday, November 8th. Finally, Wedbush increased their price objective on Upstart from $60.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $67.08.

Upstart Trading Up 31.8 %

Shares of UPST opened at $88.77 on Wednesday. The business’s fifty day moving average is $67.78 and its 200 day moving average is $54.62. Upstart has a 12-month low of $20.60 and a 12-month high of $90.44.

Upstart (NASDAQ:UPST) last released its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.02. Upstart had a negative net margin of 30.15% and a negative return on equity of 32.57%. On average, equities research analysts expect that Upstart will post -2.18 EPS for the current fiscal year.

Insider Activity

In related news, CTO Paul Gu sold 65,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $66.58, for a total transaction of $4,327,700.00. Following the completion of the transaction, the chief technology officer now owns 878,565 shares of the company’s stock, valued at approximately $58,494,857.70. The trade was a 6.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kerry Whorton Cooper sold 500 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $74.59, for a total transaction of $37,295.00. Following the sale, the director now directly owns 17,961 shares in the company, valued at $1,339,710.99. This trade represents a 2.71 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 347,868 shares of company stock worth $24,056,862. 18.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Upstart

A number of institutional investors and hedge funds have recently made changes to their positions in UPST. Jones Financial Companies Lllp increased its stake in Upstart by 3.1% in the 4th quarter. Jones Financial Companies Lllp now owns 5,511 shares of the company’s stock worth $339,000 after acquiring an additional 167 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Upstart by 24.2% during the fourth quarter. Farther Finance Advisors LLC now owns 882 shares of the company’s stock worth $54,000 after purchasing an additional 172 shares in the last quarter. Bailard Inc. increased its position in shares of Upstart by 0.5% in the fourth quarter. Bailard Inc. now owns 38,759 shares of the company’s stock worth $2,386,000 after purchasing an additional 212 shares during the last quarter. GAMMA Investing LLC raised its stake in Upstart by 19.9% in the fourth quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock valued at $83,000 after purchasing an additional 224 shares in the last quarter. Finally, Orion Capital Management LLC lifted its position in Upstart by 5.1% during the third quarter. Orion Capital Management LLC now owns 5,560 shares of the company’s stock valued at $222,000 after purchasing an additional 270 shares during the last quarter. Hedge funds and other institutional investors 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.