Upstart (NASDAQ:UPST) Stock Price Up 8.3% After Analyst Upgrade

Shares of Upstart Holdings, Inc. (NASDAQ:UPST) shot up 8.3% during trading on Tuesday after Barclays raised their price target on the stock from $80.00 to $93.00. Barclays currently has an equal weight rating on the stock. Upstart traded as high as $88.15 and last traded at $89.24. 3,046,386 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 6,009,632 shares. The stock had previously closed at $82.42.

A number of other research analysts also recently issued reports on UPST. Citigroup raised their price target on shares of Upstart from $87.00 to $108.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. B. Riley raised shares of Upstart from a “neutral” rating to a “buy” rating and raised their target price for the company from $49.00 to $105.00 in a research note on Wednesday, February 12th. Morgan Stanley upgraded Upstart from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $12.00 to $70.00 in a research report on Friday. Piper Sandler restated an “overweight” rating and set a $105.00 price objective (up previously from $85.00) on shares of Upstart in a research report on Wednesday, February 12th. Finally, Bank of America boosted their target price on shares of Upstart from $33.00 to $39.00 and gave the stock an “underperform” rating in a report on Wednesday, February 12th. 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 has a consensus rating of “Hold” and an average price target of $73.38.

Insider Buying and Selling at Upstart

In other Upstart news, CEO Dave Girouard sold 41,667 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $62.60, for a total value of $2,608,354.20. Following the transaction, the chief executive officer now owns 57,138 shares of the company’s stock, valued at approximately $3,576,838.80. The trade was a 42.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Natalia Mirgorodskaya sold 1,411 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $77.36, for a total value of $109,154.96. Following the sale, the insider now owns 18,596 shares in the company, valued at $1,438,586.56. The trade was a 7.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 239,701 shares of company stock worth $16,900,884 over the last ninety days. Corporate insiders own 18.06% of the company’s stock.

Institutional Trading of Upstart

A number of hedge funds and other institutional investors have recently modified their holdings of UPST. Vanguard Group Inc. boosted its position in Upstart by 5.0% in the 4th quarter. Vanguard Group Inc. now owns 7,793,452 shares of the company’s stock valued at $479,843,000 after buying an additional 369,640 shares during the last quarter. Two Sigma Investments LP raised its position in shares of Upstart by 20.1% during the 4th quarter. Two Sigma Investments LP now owns 1,922,770 shares of the company’s stock valued at $118,385,000 after acquiring an additional 321,366 shares during the last quarter. Fred Alger Management LLC lifted its stake in shares of Upstart by 53.6% in the 4th 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 boosted its position in shares of Upstart by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 1,846,438 shares of the company’s stock worth $113,711,000 after purchasing an additional 29,664 shares during the last quarter. Finally, Two Sigma Advisers LP grew its stake in shares of Upstart by 190.2% during the fourth quarter. Two Sigma Advisers LP now owns 1,709,300 shares of the company’s stock worth $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.

Upstart Stock Up 7.5 %

The firm has a market cap of $8.08 billion, a P/E ratio of -45.97 and a beta of 2.25. The business has a fifty day moving average of $68.22 and a 200 day moving average of $56.01.

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, sell-side analysts expect that Upstart Holdings, Inc. will post -2.18 EPS for the current fiscal year.

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.