JMP Securities Reiterates “Market Perform” Rating for Upstart (NASDAQ:UPST)

Upstart (NASDAQ:UPST)‘s stock had its “market perform” rating reissued by investment analysts at JMP Securities in a note issued to investors on Wednesday, Benzinga reports.

Other analysts have also recently issued research reports about the stock. Piper Sandler reiterated a “neutral” rating and issued a $28.00 price objective on shares of Upstart in a research note on Tuesday, March 19th. JPMorgan Chase & Co. reduced their price objective on shares of Upstart from $26.00 to $24.00 and set an “underweight” rating for the company in a research note on Wednesday, February 14th. Mizuho raised their price objective on shares of Upstart from $19.00 to $23.00 and gave the company an “underperform” rating in a research note on Thursday, January 18th. Finally, Bank of America started coverage on shares of Upstart in a research note on Thursday, April 4th. They issued an “underperform” rating and a $22.00 price objective for the company. Five research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $26.00.

Upstart Stock Down 0.6 %

Shares of NASDAQ:UPST opened at $22.31 on Wednesday. The company has a market cap of $1.96 billion, a price-to-earnings ratio of -7.69 and a beta of 1.94. The firm’s 50-day simple moving average is $25.86 and its 200-day simple moving average is $29.57. Upstart has a fifty-two week low of $11.93 and a fifty-two week high of $72.58.

Upstart (NASDAQ:UPST) last announced its quarterly earnings data on Tuesday, February 13th. The company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.05. Upstart had a negative net margin of 46.76% and a negative return on equity of 35.47%. The firm had revenue of $140.31 million during the quarter, compared to analysts’ expectations of $135.28 million. On average, research analysts forecast that Upstart will post -2.19 EPS for the current year.

Insiders Place Their Bets

In other Upstart news, insider Natalia Mirgorodskaya sold 1,919 shares of Upstart stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $24.30, for a total transaction of $46,631.70. Following the completion of the transaction, the insider now owns 28,246 shares in the company, valued at $686,377.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Natalia Mirgorodskaya sold 1,919 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $24.30, for a total value of $46,631.70. Following the completion of the transaction, the insider now owns 28,246 shares of the company’s stock, valued at $686,377.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Paul Gu sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $26.31, for a total transaction of $1,578,600.00. Following the completion of the transaction, the chief technology officer now directly owns 893,596 shares of the company’s stock, valued at approximately $23,510,510.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,777 shares of company stock worth $1,864,629. Insiders own 18.06% of the company’s stock.

Hedge Funds Weigh In On Upstart

A number of institutional investors have recently modified their holdings of UPST. GAMMA Investing LLC acquired a new position in shares of Upstart in the fourth quarter valued at approximately $25,000. IFP Advisors Inc raised its position in shares of Upstart by 4,153.3% in the second quarter. IFP Advisors Inc now owns 638 shares of the company’s stock valued at $26,000 after buying an additional 623 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in Upstart in the second quarter valued at approximately $26,000. Comerica Bank purchased a new stake in Upstart in the third quarter valued at approximately $27,000. Finally, CWM LLC grew its holdings in Upstart by 56.5% in the third quarter. CWM LLC now owns 1,169 shares of the company’s stock valued at $33,000 after purchasing an additional 422 shares during the period. Institutional investors and hedge funds 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.