Upstart Holdings, Inc. (NASDAQ:UPST) Receives $21.65 Consensus PT from Brokerages

Upstart Holdings, Inc. (NASDAQ:UPST) has earned a consensus recommendation of “Reduce” from the twelve analysts that are presently covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $21.65.

Several analysts have recently issued reports on the stock. Redburn Atlantic raised shares of Upstart from a “sell” rating to a “neutral” rating and increased their price target for the stock from $22.50 to $25.50 in a research report on Tuesday, June 4th. JMP Securities reissued a “market perform” rating on shares of Upstart in a research report on Wednesday, April 17th. Wedbush restated an “underperform” rating and issued a $10.00 price target on shares of Upstart in a research note on Wednesday, May 8th. Needham & Company LLC reiterated a “hold” rating on shares of Upstart in a research note on Wednesday, May 8th. Finally, Piper Sandler reissued a “neutral” rating and set a $28.00 target price on shares of Upstart in a research note on Tuesday, March 19th.

Upstart Stock Performance

Shares of UPST stock opened at $29.96 on Tuesday. The firm has a market cap of $2.63 billion, a P/E ratio of -14.54 and a beta of 1.97. The firm’s 50 day moving average price is $24.35 and its 200-day moving average price is $26.82. Upstart has a one year low of $19.84 and a one year high of $72.58.

Upstart (NASDAQ:UPST) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.74) EPS for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.06. Upstart had a negative return on equity of 27.89% and a negative net margin of 32.59%. The company had revenue of $127.79 million for the quarter, compared to analysts’ expectations of $124.82 million. As a group, research analysts predict that Upstart will post -2.67 EPS for the current fiscal year.

Insider Buying and Selling at Upstart

In other news, CTO Paul Gu sold 80,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $29.52, for a total transaction of $2,361,600.00. Following the completion of the sale, the chief technology officer now owns 893,596 shares in the company, valued at approximately $26,378,953.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Upstart news, insider Natalia Mirgorodskaya sold 2,156 shares of Upstart stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $24.27, for a total transaction of $52,326.12. Following the transaction, the insider now owns 25,821 shares of the company’s stock, valued at $626,675.67. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Paul Gu sold 80,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $29.52, for a total value of $2,361,600.00. Following the completion of the sale, the chief technology officer now directly owns 893,596 shares of the company’s stock, valued at $26,378,953.92. The disclosure for this sale can be found here. Insiders have sold 157,610 shares of company stock worth $4,321,793 over the last three months. Insiders own 18.06% of the company’s stock.

Institutional Trading of Upstart

Several institutional investors and hedge funds have recently bought and sold shares of the business. Northern Trust Corp boosted its stake in shares of Upstart by 1.1% during the third quarter. Northern Trust Corp now owns 718,745 shares of the company’s stock worth $20,513,000 after buying an additional 8,091 shares during the period. Banque Pictet & Cie SA purchased a new position in shares of Upstart in the 3rd quarter valued at approximately $2,283,000. Vanguard Group Inc. lifted its holdings in shares of Upstart by 1.3% during the third quarter. Vanguard Group Inc. now owns 6,856,199 shares of the company’s stock worth $195,676,000 after purchasing an additional 87,832 shares during the period. SG Americas Securities LLC grew its position in Upstart by 28.1% in the 4th quarter. SG Americas Securities LLC now owns 33,794 shares of the company’s stock valued at $1,381,000 after buying an additional 7,404 shares during the last quarter. Finally, Raymond James & Associates acquired a new position in Upstart in the 4th quarter valued at $854,000. Hedge funds and other institutional investors 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.