Upstart (NASDAQ:UPST) Receives New Coverage from Analysts at FBN Securities

Stock analysts at FBN Securities began coverage on shares of Upstart (NASDAQ:UPSTGet Rating) in a research note issued to investors on Tuesday, Benzinga reports. The brokerage set an “outperform” rating and a $150.00 price target on the stock. FBN Securities’ price target would indicate a potential upside of 67.17% from the company’s previous close.

Several other research analysts have also weighed in on the company. Zacks Investment Research raised Upstart from a “sell” rating to a “hold” rating in a research report on Thursday, February 24th. JMP Securities lowered their price target on Upstart from $315.00 to $245.00 and set a “market outperform” rating on the stock in a research report on Wednesday, February 16th. Stephens assumed coverage on Upstart in a research note on Thursday, March 31st. They set an “equal weight” rating and a $124.00 target price for the company. Barclays reduced their target price on Upstart from $285.00 to $180.00 in a research note on Thursday, February 17th. Finally, Loop Capital assumed coverage on Upstart in a research note on Tuesday, April 5th. They set a “buy” rating and a $140.00 target price for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $217.21.

Shares of NASDAQ UPST opened at $89.73 on Tuesday. The stock has a market capitalization of $7.60 billion, a PE ratio of 63.64 and a beta of -0.58. Upstart has a 52 week low of $75.15 and a 52 week high of $401.49. The stock has a 50 day moving average price of $115.51 and a 200 day moving average price of $181.93.

Upstart (NASDAQ:UPSTGet Rating) last posted its quarterly earnings results on Tuesday, February 15th. The company reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.43. The firm had revenue of $304.85 million for the quarter, compared to analyst estimates of $262.01 million. Upstart had a return on equity of 21.33% and a net margin of 15.96%. As a group, sell-side analysts forecast that Upstart will post 1.04 earnings per share for the current fiscal year.

In other Upstart news, CEO Dave Girouard sold 83,333 shares of Upstart stock in a transaction on Tuesday, February 1st. The stock was sold at an average price of $109.37, for a total value of $9,114,130.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Alison Nicoll sold 7,500 shares of Upstart stock in a transaction on Wednesday, January 19th. The shares were sold at an average price of $108.27, for a total value of $812,025.00. The disclosure for this sale can be found here. Insiders sold a total of 256,874 shares of company stock valued at $28,664,939 over the last ninety days. Insiders own 25.20% of the company’s stock.

Several hedge funds have recently made changes to their positions in UPST. Wells Fargo & Company MN lifted its position in shares of Upstart by 1,542.2% during the 2nd quarter. Wells Fargo & Company MN now owns 20,429 shares of the company’s stock worth $2,551,000 after buying an additional 19,185 shares during the last quarter. Parametric Portfolio Associates LLC bought a new position in Upstart in the second quarter valued at about $510,000. Wolff Wiese Magana LLC increased its stake in shares of Upstart by 89.1% in the third quarter. Wolff Wiese Magana LLC now owns 1,144 shares of the company’s stock valued at $362,000 after buying an additional 539 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of Upstart in the third quarter valued at about $270,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Upstart in the third quarter valued at about $1,587,000. Institutional investors and hedge funds own 67.88% of the company’s stock.

About Upstart (Get Rating)

Upstart Holdings, Inc operates a cloud- based artificial intelligence (AI) lending platform in the United States. The company's platform aggregates consumer demand for loans and connects it to its network of the company's AI- enabled bank partners. Its platform connects consumers, banks, and institutional investors through a shared AI lending platform.

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