Upstart (NASDAQ:UPST) Lowered to “Sell” at Zacks Investment Research

Upstart (NASDAQ:UPSTGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday, Zacks.com reports.

According to Zacks, “Upstart Holdings Inc. is a AI lending platform partnering with banks to expand access to affordable credit. Upstart Holdings Inc. is based in San Mateo, United States. “

A number of other research analysts have also recently commented on the stock. Barclays cut shares of Upstart from an “overweight” rating to an “equal weight” rating and set a $35.00 price target on the stock. in a report on Wednesday. Loop Capital initiated coverage on shares of Upstart in a research report on Tuesday, April 5th. They set a “buy” rating and a $140.00 price target for the company. FBN Securities initiated coverage on shares of Upstart in a report on Tuesday, April 12th. They issued an “outperform” rating and a $150.00 price target on the stock. Morgan Stanley dropped their price objective on shares of Upstart from $115.00 to $88.00 in a research note on Wednesday, May 4th. Finally, The Goldman Sachs Group lowered shares of Upstart from a “buy” rating to a “neutral” rating and cut their price target for the stock from $250.00 to $40.00 in a report on Tuesday. Three analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Upstart currently has an average rating of “Hold” and an average price target of $114.00.

UPST stock traded down $6.88 during mid-day trading on Wednesday, reaching $26.73. 846,773 shares of the stock traded hands, compared to its average volume of 11,136,945. Upstart has a one year low of $29.02 and a one year high of $401.49. The stock has a market capitalization of $2.26 billion, a PE ratio of 18.16 and a beta of 1.14. The business has a 50-day moving average price of $97.99 and a two-hundred day moving average price of $145.75.

Upstart (NASDAQ:UPSTGet Rating) last posted its quarterly earnings data on Monday, May 9th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.08. Upstart had a net margin of 15.96% and a return on equity of 21.33%. The business had revenue of $310.14 million for the quarter, compared to analysts’ expectations of $300.13 million. During the same quarter in the previous year, the business posted $0.12 earnings per share. The business’s revenue was up 155.6% compared to the same quarter last year. As a group, equities analysts anticipate that Upstart will post 1.02 earnings per share for the current year.

In related news, CEO Dave Girouard sold 83,333 shares of the company’s stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $108.39, for a total value of $9,032,463.87. Following the completion of the transaction, the chief executive officer now directly owns 87,114 shares of the company’s stock, valued at $9,442,286.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Alison Nicoll sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $89.62, for a total value of $672,150.00. Following the completion of the transaction, the general counsel now directly owns 186,367 shares of the company’s stock, valued at $16,702,210.54. The disclosure for this sale can be found here. Insiders have sold 207,708 shares of company stock worth $21,254,868 over the last 90 days. Insiders own 18.87% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Moors & Cabot Inc. acquired a new stake in shares of Upstart in the third quarter valued at approximately $25,000. Outfitter Financial LLC acquired a new stake in shares of Upstart in the fourth quarter valued at approximately $25,000. SJS Investment Consulting Inc. acquired a new stake in shares of Upstart in the first quarter valued at approximately $25,000. Tyler Stone Wealth Management acquired a new stake in shares of Upstart in the fourth quarter valued at approximately $26,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Upstart in the fourth quarter valued at approximately $26,000. 59.65% of the stock is owned by institutional investors and hedge funds.

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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