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

Upstart (NASDAQ:UPST) had its price target upped by 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 price objective indicates a potential upside of 12.84% from the company’s previous close.

Several other brokerages have also issued reports on UPST. Wedbush boosted their target price on shares of Upstart from $60.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. B. Riley raised Upstart from a “neutral” rating to a “buy” rating and raised their target price for the stock from $49.00 to $105.00 in a report on Wednesday, February 12th. JPMorgan Chase & Co. upgraded Upstart from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $57.00 to $79.00 in a research report on Wednesday, February 12th. BTIG Research upgraded Upstart from a “sell” rating to a “neutral” rating in a research report on Monday, November 11th. Finally, Redburn Atlantic raised Upstart from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $37.00 to $95.00 in a research report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Upstart currently has an average rating of “Hold” and a consensus target price of $73.38.

Upstart Trading Down 2.1 %

Upstart stock opened at $82.42 on Tuesday. Upstart has a 12 month low of $20.60 and a 12 month high of $96.43. The stock has a fifty day simple moving average of $68.22 and a two-hundred day simple moving average of $56.01. The firm has a market cap of $7.52 billion, a price-to-earnings ratio of -42.70 and a beta of 2.25.

Upstart (NASDAQ:UPST) last posted its earnings results 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 30.15% and a negative return on equity of 32.57%. On average, equities research analysts forecast that Upstart will post -2.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other Upstart news, CEO Dave Girouard sold 41,667 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $62.60, for a total transaction of $2,608,354.20. Following the completion of the transaction, the chief executive officer now owns 57,138 shares of the company’s stock, valued at $3,576,838.80. This represents a 42.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sanjay Datta sold 18,619 shares of Upstart stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $69.82, for a total value of $1,299,978.58. Following the completion of the sale, the chief financial officer now directly owns 310,974 shares in the company, valued at $21,712,204.68. This trade represents a 5.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 239,701 shares of company stock worth $16,900,884 in the last three months. 18.06% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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