Mizuho Raises Upstart (NASDAQ:UPST) Price Target to $48.00

Upstart (NASDAQ:UPST) had its price objective hoisted by Mizuho from $33.00 to $48.00 in a research note published on Friday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other analysts have also commented on UPST. Barclays boosted their price objective on shares of Upstart from $25.00 to $35.00 and gave the stock an equal weight rating in a research report on Monday, August 12th. Needham & Company LLC reiterated a hold rating on shares of Upstart in a report on Thursday, August 8th. Redburn Atlantic upgraded Upstart from a sell rating to a neutral rating and raised their price target for the company from $22.50 to $25.50 in a research note on Tuesday, June 4th. Wedbush reissued an underperform rating and issued a $10.00 price objective on shares of Upstart in a report on Wednesday, August 7th. Finally, BTIG Research started coverage on shares of Upstart in a report on Friday, June 7th. They set a sell rating and a $14.00 target price on the stock. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Upstart presently has an average rating of Hold and an average target price of $27.61.

Upstart Stock Performance

Shares of UPST stock opened at $38.53 on Friday. The company’s 50 day moving average price is $34.31 and its two-hundred day moving average price is $27.90. Upstart has a 52 week low of $19.84 and a 52 week high of $49.62. The company has a market capitalization of $3.39 billion, a P/E ratio of -19.48 and a beta of 2.03.

Upstart (NASDAQ:UPST) last released its quarterly 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. The firm had revenue of $127.63 million for the quarter, compared to the consensus estimate of $124.55 million. Upstart had a negative return on equity of 32.01% and a negative net margin of 38.05%. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.34) EPS. Analysts forecast that Upstart will post -2.39 earnings per share for the current year.

Insider Activity

In related news, CEO Dave Girouard sold 3,361 shares of Upstart stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $38.35, for a total transaction of $128,894.35. Following the completion of the sale, the chief executive officer now owns 61,512 shares of the company’s stock, valued at approximately $2,358,985.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Dave Girouard sold 3,361 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $38.35, for a total value of $128,894.35. Following the completion of the sale, the chief executive officer now directly owns 61,512 shares in the company, valued at approximately $2,358,985.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sanjay Datta sold 1,000 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $27.80, for a total value of $27,800.00. Following the transaction, the chief financial officer now owns 374,398 shares in the company, valued at approximately $10,408,264.40. The disclosure for this sale can be found here. Insiders have sold 159,959 shares of company stock valued at $6,020,644 over the last ninety days. 18.06% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Magnetar Financial LLC increased its stake in Upstart by 1,106.7% during the 1st quarter. Magnetar Financial LLC now owns 97,281 shares of the company’s stock worth $2,616,000 after acquiring an additional 89,219 shares during the period. Norges Bank bought a new position in Upstart in the 4th quarter valued at about $19,017,000. Vanguard Group Inc. raised its position in shares of Upstart by 2.3% in the 4th 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 in the last quarter. Baader Bank Aktiengesellschaft lifted its holdings in shares of Upstart by 273.8% during the 2nd 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 acquired a new stake in shares of Upstart during the 1st quarter worth approximately $1,358,000. 63.01% of the stock is 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.