Upstart (NASDAQ:UPST) Raised to Outperform at Mizuho

Mizuho upgraded shares of Upstart (NASDAQ:UPST) from an underperform rating to an outperform rating in a research report sent to investors on Wednesday, Marketbeat reports. The firm currently has $31.00 price target on the stock, up from their prior price target of $17.00.

A number of other equities analysts also recently weighed in on the stock. BTIG Research began coverage on shares of Upstart in a research note on Friday, June 7th. They set a sell rating and a $14.00 target price for the company. Needham & Company LLC reaffirmed a hold rating on shares of Upstart in a research note on Wednesday, May 8th. JMP Securities reaffirmed a market perform rating on shares of Upstart in a research note on Wednesday, April 17th. Bank of America began coverage on shares of Upstart in a research note on Thursday, April 4th. They set an underperform rating and a $22.00 target price for the company. Finally, Wedbush reaffirmed an underperform rating and set a $10.00 target price on shares of Upstart in a research note on Wednesday, May 8th. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Upstart has a consensus rating of Hold and a consensus target price of $23.05.

Upstart Trading Down 6.5 %

Upstart stock opened at $23.76 on Wednesday. The firm has a 50-day moving average of $24.85 and a 200-day moving average of $26.10. The firm has a market cap of $2.09 billion, a P/E ratio of -11.53 and a beta of 1.97. Upstart has a 1-year low of $19.84 and a 1-year high of $71.08.

Upstart (NASDAQ:UPST) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.06. Upstart had a negative net margin of 32.59% and a negative return on equity of 27.89%. The company had revenue of $127.79 million during the quarter, compared to the consensus estimate of $124.82 million. Research analysts forecast that Upstart will post -2.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO Paul Gu sold 80,000 shares of the firm’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 value of $2,361,600.00. Following the sale, the chief technology officer now owns 893,596 shares in the company, valued at $26,378,953.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CTO Paul Gu sold 80,000 shares of Upstart stock in a transaction 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 transaction, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sanjay Datta sold 18,138 shares of Upstart stock in a transaction on Monday, May 20th. The stock was sold at an average price of $25.61, for a total transaction of $464,514.18. Following the transaction, the chief financial officer now owns 382,398 shares in the company, valued at approximately $9,793,212.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 170,610 shares of company stock worth $4,704,553. 18.06% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Upstart by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 7,128,975 shares of the company’s stock valued at $191,698,000 after buying an additional 115,057 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Upstart by 0.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,018,354 shares of the company’s stock valued at $41,610,000 after buying an additional 5,875 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Upstart by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 573,176 shares of the company’s stock valued at $23,420,000 after buying an additional 17,463 shares in the last quarter. Norges Bank bought a new stake in Upstart in the 4th quarter valued at $19,017,000. Finally, International Assets Investment Management LLC increased its holdings in Upstart by 3,532.7% in the 4th quarter. International Assets Investment Management LLC now owns 329,740 shares of the company’s stock valued at $13,473,000 after acquiring an additional 320,663 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

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.