Upstart Holdings, Inc. (NASDAQ:UPST) Receives Consensus Rating of “Reduce” from Analysts

Upstart Holdings, Inc. (NASDAQ:UPST) has earned a consensus rating of “Reduce” from the eleven ratings firms that are currently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $27.61.

UPST has been the subject of a number of research analyst reports. Citigroup raised Upstart from a “sell” rating to a “neutral” rating and boosted their target price for the company from $15.00 to $33.00 in a research note on Wednesday, August 7th. Redburn Atlantic raised Upstart from a “sell” rating to a “neutral” rating and increased their target price for the stock from $22.50 to $25.50 in a research note on Tuesday, June 4th. Needham & Company LLC restated a “hold” rating on shares of Upstart in a report on Thursday, August 8th. Mizuho upped their price target on shares of Upstart from $33.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Finally, Piper Sandler raised their price objective on shares of Upstart from $28.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th.

Insider Activity at Upstart

In other Upstart news, Chief Legal Officer Scott Darling sold 9,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $45.00, for a total transaction of $405,000.00. Following the sale, the insider now directly owns 164,870 shares of the company’s stock, valued at approximately $7,419,150. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Chief Legal Officer Scott Darling sold 9,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $45.00, for a total transaction of $405,000.00. Following the sale, the insider now owns 164,870 shares in the company, valued at approximately $7,419,150. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Natalia Mirgorodskaya sold 1,264 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $38.36, for a total value of $48,487.04. Following the completion of the sale, the insider now directly owns 24,557 shares of the company’s stock, valued at approximately $942,006.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 161,459 shares of company stock valued at $6,080,644. Corporate insiders own 18.06% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of UPST. Charles Schwab Investment Management Inc. lifted its stake in Upstart by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 573,176 shares of the company’s stock valued at $23,420,000 after purchasing an additional 17,463 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Upstart by 12.2% during the 4th quarter. Principal Financial Group Inc. now owns 8,450 shares of the company’s stock worth $345,000 after acquiring an additional 916 shares during the period. Norges Bank acquired a new position in shares of Upstart during the 4th quarter worth approximately $19,017,000. Hsbc Holdings PLC raised its stake in Upstart by 8.2% in the 4th quarter. Hsbc Holdings PLC now owns 29,535 shares of the company’s stock valued at $1,205,000 after acquiring an additional 2,226 shares during the period. Finally, IPG Investment Advisors LLC bought a new position in Upstart during the fourth quarter worth $277,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Upstart Price Performance

Upstart stock opened at $40.89 on Friday. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of -19.85 and a beta of 2.03. The company’s 50 day simple moving average is $35.01 and its 200 day simple moving average is $28.23. Upstart has a fifty-two week low of $19.84 and a fifty-two week high of $49.62.

Upstart (NASDAQ:UPST) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.22. Upstart had a negative net margin of 38.05% and a negative return on equity of 32.01%. The company had revenue of $127.63 million for the quarter, compared to analysts’ expectations of $124.55 million. During the same period last year, the firm posted ($0.34) earnings per share. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. As a group, analysts predict that Upstart will post -2.39 EPS for the current fiscal year.

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.