Upstart (NASDAQ:UPST) Price Target Raised to $39.00

Upstart (NASDAQ:UPST) had its target price raised by stock analysts at Bank of America from $33.00 to $39.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “underperform” rating on the stock. Bank of America‘s price objective points to a potential downside of 42.08% from the stock’s current price.

A number of other brokerages have also recently issued reports on UPST. Wedbush lifted their target price on Upstart from $60.00 to $75.00 and gave the stock a “neutral” rating in a report on Monday, December 2nd. Redburn Atlantic raised Upstart from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $37.00 to $95.00 in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. upgraded Upstart from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $57.00 to $79.00 in a report on Wednesday. BTIG Research upgraded shares of Upstart from a “sell” rating to a “neutral” rating in a report on Monday, November 11th. Finally, Citigroup upgraded shares of Upstart from a “neutral” rating to a “buy” rating and boosted their price target for the company from $56.00 to $87.00 in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Upstart presently has an average rating of “Hold” and a consensus price target of $71.82.

Upstart Trading Down 5.1 %

Shares of NASDAQ UPST opened at $67.34 on Wednesday. Upstart has a twelve month low of $20.60 and a twelve month high of $88.95. The firm has a 50-day moving average of $67.49 and a two-hundred day moving average of $54.38. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of -34.89 and a beta of 2.25.

Upstart (NASDAQ:UPST) last released its earnings results on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.02. Upstart had a negative net margin of 30.15% and a negative return on equity of 32.57%. As a group, research analysts predict that Upstart will post -2.18 earnings per share for the current year.

Insider Activity

In other news, CTO Paul Gu sold 65,000 shares of Upstart stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $66.58, for a total transaction of $4,327,700.00. Following the completion of the sale, the chief technology officer now directly owns 878,565 shares in the company, valued at $58,494,857.70. The trade was a 6.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dave Girouard sold 41,667 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $62.60, for a total transaction of $2,608,354.20. Following the transaction, the chief executive officer now directly owns 57,138 shares in the company, valued at approximately $3,576,838.80. The trade was a 42.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 347,868 shares of company stock worth $24,056,862 in the last ninety days. Corporate insiders own 18.06% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Indiana Trust & Investment Management Co acquired a new position in Upstart during the third quarter worth $43,000. Summit Financial Strategies Inc. raised its stake in shares of Upstart by 13.3% in the 3rd quarter. Summit Financial Strategies Inc. now owns 10,399 shares of the company’s stock valued at $416,000 after acquiring an additional 1,223 shares in the last quarter. Blue Trust Inc. lifted its holdings in Upstart by 125.3% in the 3rd quarter. Blue Trust Inc. now owns 989 shares of the company’s stock worth $40,000 after purchasing an additional 550 shares during the last quarter. Castleview Partners LLC lifted its holdings in Upstart by 21,610.0% in the 3rd quarter. Castleview Partners LLC now owns 2,171 shares of the company’s stock worth $87,000 after purchasing an additional 2,161 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in Upstart during the third quarter worth approximately $235,000. Institutional investors and hedge funds 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.