Upstart (NASDAQ:UPST) PT Raised to $48.00 at Mizuho

Upstart (NASDAQ:UPST) had its price target boosted by research analysts at Mizuho from $33.00 to $48.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price objective points to a potential upside of 20.79% from the stock’s current price.

Several other analysts have also weighed in on the company. Piper Sandler upped their target price on Upstart from $28.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Citigroup raised shares of Upstart from a “sell” rating to a “neutral” rating and increased their price objective for the company from $15.00 to $33.00 in a research note on Wednesday, August 7th. Needham & Company LLC restated a “hold” rating on shares of Upstart in a research report on Thursday, August 8th. JPMorgan Chase & Co. increased their price target on shares of Upstart from $27.00 to $30.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Finally, Redburn Atlantic raised shares of Upstart from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $22.50 to $25.50 in a research note on Tuesday, June 4th. Four 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 an average rating of “Hold” and a consensus price target of $27.61.

Upstart Price Performance

NASDAQ UPST opened at $39.74 on Friday. The company has a fifty day moving average of $34.31 and a two-hundred day moving average of $27.86. The company has a market capitalization of $3.49 billion, a PE ratio of -19.29 and a beta of 2.03. Upstart has a 1 year low of $19.84 and a 1 year high of $49.62.

Upstart (NASDAQ:UPST) last announced its earnings results on Tuesday, August 6th. The company reported ($0.17) EPS for the quarter, beating 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 business had revenue of $127.63 million for the quarter, compared to analysts’ expectations of $124.55 million. During the same period in the previous year, the company posted ($0.34) EPS. The company’s quarterly revenue was down 6.0% on a year-over-year basis. On average, research analysts expect that Upstart will post -2.39 earnings per share for the current year.

Insiders Place Their Bets

In other Upstart news, CFO Sanjay Datta sold 1,500 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $34.42, for a total transaction of $51,630.00. Following the transaction, the chief financial officer now owns 343,093 shares of the company’s stock, valued at approximately $11,809,261.06. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Upstart news, CFO Sanjay Datta sold 1,500 shares of Upstart stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $34.42, for a total value of $51,630.00. Following the completion of the sale, the chief financial officer now owns 343,093 shares in the company, valued at approximately $11,809,261.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Paul Gu sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $23.52, for a total transaction of $117,600.00. Following the transaction, the chief technology officer now directly owns 894,629 shares of the company’s stock, valued at approximately $21,041,674.08. The disclosure for this sale can be found here. In the last three months, insiders sold 160,959 shares of company stock valued at $6,042,324. Company insiders own 18.06% of the company’s stock.

Institutional Trading of Upstart

A number of institutional investors have recently added to or reduced their stakes in UPST. Anfield Capital Management LLC acquired a new position in Upstart during the 2nd quarter worth approximately $33,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of Upstart by 80.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,743 shares of the company’s stock valued at $47,000 after purchasing an additional 778 shares during the period. GAMMA Investing LLC lifted its position in shares of Upstart by 259.0% during the second quarter. GAMMA Investing LLC now owns 2,204 shares of the company’s stock worth $52,000 after purchasing an additional 1,590 shares in the last quarter. BOCHK Asset Management Ltd purchased a new position in shares of Upstart in the fourth quarter valued at $61,000. Finally, Comerica Bank grew its holdings in Upstart by 144.0% during the 1st quarter. Comerica Bank now owns 2,313 shares of the company’s stock valued at $62,000 after purchasing an additional 1,365 shares in the last quarter. 63.01% of the stock is owned by hedge funds and other 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.