Upstart (NASDAQ:UPST) Price Target Raised to $93.00

Upstart (NASDAQ:UPST) had its target price raised by Barclays from $80.00 to $93.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other brokerages also recently issued reports on UPST. JPMorgan Chase & Co. raised Upstart from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $57.00 to $79.00 in a research report on Wednesday, February 12th. Bank of America upped their price target on shares of Upstart from $33.00 to $39.00 and gave the company an “underperform” rating in a report on Wednesday, February 12th. Wedbush upped their price target on shares of Upstart from $60.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. The Goldman Sachs Group increased their target price on shares of Upstart from $13.50 to $15.00 and gave the stock a “sell” rating in a research note on Wednesday, February 12th. Finally, B. Riley upgraded shares of Upstart from a “neutral” rating to a “buy” rating and upped their price target for the stock from $49.00 to $105.00 in a research report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $73.38.

Upstart Price Performance

Shares of NASDAQ:UPST opened at $79.21 on Tuesday. Upstart has a 1 year low of $20.60 and a 1 year high of $96.43. The business has a 50 day simple moving average of $68.61 and a two-hundred day simple moving average of $56.80. The firm has a market capitalization of $7.42 billion, a PE ratio of -54.25 and a beta of 2.25.

Upstart (NASDAQ:UPST) last announced its quarterly earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. Upstart had a negative return on equity of 26.22% and a negative net margin of 20.20%. Equities research analysts expect that Upstart will post -0.51 EPS for the current fiscal year.

Insider Buying and Selling at Upstart

In other news, CEO Dave Girouard sold 41,667 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $62.60, for a total value of $2,608,354.20. Following the sale, the chief executive officer now directly owns 57,138 shares in the company, valued at approximately $3,576,838.80. This trade represents a 42.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Paul Gu sold 58,786 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $75.93, for a total transaction of $4,463,620.98. Following the completion of the sale, the chief technology officer now owns 863,065 shares in the company, valued at $65,532,525.45. The trade was a 6.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 193,983 shares of company stock valued at $13,598,414 in the last 90 days. Company insiders own 18.06% of the company’s stock.

Institutional Investors Weigh In On Upstart

A number of hedge funds and other institutional investors have recently modified their holdings of UPST. Los Angeles Capital Management LLC acquired a new stake in Upstart during the 3rd quarter worth $334,000. Tyler Stone Wealth Management raised its stake in Upstart by 94.1% during the 3rd quarter. Tyler Stone Wealth Management now owns 55,534 shares of the company’s stock worth $2,222,000 after acquiring an additional 26,917 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Upstart during the 3rd quarter worth $939,000. Quadrature Capital Ltd acquired a new stake in Upstart during the 3rd quarter worth $676,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Upstart by 63.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock worth $29,031,000 after acquiring an additional 282,481 shares in the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

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.