Upstart (NASDAQ:UPST) Receives “Overweight” Rating from Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Upstart (NASDAQ:UPST) in a research report released on Wednesday,Benzinga reports. They currently have a $105.00 price target on the stock, up from their prior price target of $85.00.

Other equities analysts have also issued research reports about the company. B. Riley raised Upstart from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $49.00 to $105.00 in a research note on Wednesday. Needham & Company LLC upped their price target on Upstart from $100.00 to $108.00 and gave the stock a “buy” rating in a research note on Wednesday. Citigroup raised shares of Upstart from a “neutral” rating to a “buy” rating and increased their price objective for the company from $56.00 to $87.00 in a report on Friday, November 8th. Redburn Atlantic raised shares of Upstart from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $37.00 to $95.00 in a report on Tuesday, December 3rd. Finally, BTIG Research raised shares of Upstart from a “sell” rating to a “neutral” rating in a research note on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $67.08.

Upstart Stock Performance

NASDAQ UPST opened at $88.77 on Wednesday. Upstart has a 12 month low of $20.60 and a 12 month high of $90.44. The company’s 50 day moving average is $67.78 and its two-hundred day moving average is $54.62.

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

Insider Buying and Selling

In other Upstart news, CFO Sanjay Datta sold 1,500 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $68.56, for a total transaction of $102,840.00. Following the transaction, the chief financial officer now owns 329,593 shares in the company, valued at approximately $22,596,896.08. This represents a 0.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Dave Girouard sold 41,667 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $62.60, for a total transaction of $2,608,354.20. Following the sale, the chief executive officer now directly owns 57,138 shares of the company’s stock, valued at $3,576,838.80. This represents 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. 18.06% of the stock is owned by insiders.

Hedge Funds Weigh In On Upstart

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