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

Upstart Holdings, Inc. (NASDAQ:UPST) has earned a consensus recommendation of “Reduce” from the thirteen analysts that are presently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $24.50.

UPST has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on Upstart from $24.00 to $27.00 and gave the stock an “underweight” rating in a report on Wednesday. Mizuho raised Upstart from an “underperform” rating to an “outperform” rating and lifted their target price for the company from $17.00 to $31.00 in a research report on Wednesday, July 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Upstart in a research report on Thursday. Citigroup raised shares of Upstart from a “sell” rating to a “neutral” rating and raised their price target for the stock from $15.00 to $33.00 in a research note on Wednesday. Finally, Piper Sandler boosted their price objective on shares of Upstart from $28.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday.

Insider Activity

In other news, CTO Paul Gu sold 80,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CTO Paul Gu sold 80,000 shares of the stock in a transaction dated 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 transaction, the chief technology officer now directly owns 893,596 shares of the company’s stock, valued at $26,378,953.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott Darling sold 3,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $25.44, for a total transaction of $76,320.00. Following the sale, the insider now owns 196,993 shares of the company’s stock, valued at approximately $5,011,501.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 171,610 shares of company stock valued at $4,725,533. 18.06% of the stock is owned by company insiders.

Institutional Investors Weigh In On Upstart

A number of institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC acquired a new stake in Upstart during the 4th quarter worth approximately $25,000. Strs Ohio bought a new position in Upstart during the 4th quarter worth $57,000. Anfield Capital Management LLC acquired a new stake in shares of Upstart during the second quarter worth $33,000. ICA Group Wealth Management LLC bought a new stake in shares of Upstart in the fourth quarter valued at about $61,000. Finally, BOCHK Asset Management Ltd acquired a new position in shares of Upstart in the fourth quarter valued at about $61,000. Institutional investors own 63.01% of the company’s stock.

Upstart Trading Up 6.0 %

Shares of NASDAQ:UPST traded up $2.04 during trading on Friday, hitting $36.25. 17,062,470 shares of the company’s stock traded hands, compared to its average volume of 6,434,901. The company has a 50-day moving average price of $25.50 and a 200-day moving average price of $26.06. Upstart has a 52 week low of $19.84 and a 52 week high of $49.62. The company has a market cap of $3.19 billion, a price-to-earnings ratio of -17.60 and a beta of 1.97.

Upstart (NASDAQ:UPST) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.17) earnings per share 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 31.57%. The firm had revenue of $127.63 million for the quarter, compared to analyst estimates of $124.55 million. During the same quarter in the previous year, the firm posted ($0.34) earnings per share. The business’s revenue was down 6.0% on a year-over-year basis. On average, analysts predict that Upstart will post -2.7 earnings per share 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.