Analysts Set Upstart Holdings, Inc. (NASDAQ:UPST) PT at $31.50

Shares of Upstart Holdings, Inc. (NASDAQ:UPST) have been assigned a consensus recommendation of “Reduce” from the eleven brokerages that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $31.50.

A number of brokerages have recently weighed in on UPST. Barclays raised their price target on Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Piper Sandler raised their target price on shares of Upstart from $28.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Mizuho increased their price target on shares of Upstart from $33.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Wedbush raised shares of Upstart from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $10.00 to $45.00 in a research note on Monday, October 14th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Upstart in a research note on Thursday, August 8th.

Insider Buying and Selling at Upstart

In other news, Chief Legal Officer Scott Darling sold 9,000 shares of Upstart stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $45.00, for a total value of $405,000.00. Following the transaction, the insider now directly owns 164,870 shares of the company’s stock, valued at $7,419,150. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Upstart news, CFO Sanjay Datta sold 1,500 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $53.81, for a total value of $80,715.00. Following the transaction, the chief financial officer now directly owns 335,593 shares of the company’s stock, valued at $18,058,259.33. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chief Legal Officer Scott Darling sold 9,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $45.00, for a total value of $405,000.00. Following the completion of the sale, the insider now directly owns 164,870 shares of the company’s stock, valued at $7,419,150. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 313,459 shares of company stock valued at $13,693,915. Company insiders own 18.06% of the company’s stock.

Hedge Funds Weigh In On Upstart

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Upstart by 1.6% during the first quarter. Vanguard Group Inc. now owns 7,128,975 shares of the company’s stock valued at $191,698,000 after purchasing an additional 115,057 shares during the period. Liontrust Investment Partners LLP lifted its holdings in Upstart by 26.1% in the 2nd quarter. Liontrust Investment Partners LLP now owns 290,000 shares of the company’s stock worth $6,841,000 after buying an additional 60,000 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Upstart by 15.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 272,430 shares of the company’s stock valued at $6,427,000 after buying an additional 36,206 shares during the last quarter. Millennium Management LLC grew its stake in shares of Upstart by 1,792.9% during the second quarter. Millennium Management LLC now owns 262,396 shares of the company’s stock valued at $6,190,000 after acquiring an additional 277,896 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of Upstart by 4,087.8% during the third quarter. International Assets Investment Management LLC now owns 233,258 shares of the company’s stock worth $9,333,000 after acquiring an additional 227,688 shares during the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.

Upstart Stock Down 4.3 %

Shares of NASDAQ UPST opened at $49.75 on Thursday. The firm has a 50-day moving average price of $41.28 and a 200 day moving average price of $30.82. Upstart has a 52 week low of $19.84 and a 52 week high of $57.40. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of -24.15 and a beta of 2.01.

Upstart (NASDAQ:UPST) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.22. The company had revenue of $127.63 million during the quarter, compared to the consensus estimate of $124.55 million. Upstart had a negative net margin of 38.05% and a negative return on equity of 32.01%. The company’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period last year, the firm earned ($0.34) EPS. Equities research analysts expect that Upstart will post -2.39 EPS for the current fiscal year.

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.