Upstart (NASDAQ:UPST) Raised to “Hold” at Zacks Investment Research

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

Other analysts also recently issued research reports about the stock. Wedbush cut their price target on shares of Upstart from $70.00 to $35.00 in a report on Tuesday, May 10th. Loop Capital assumed coverage on shares of Upstart in a report on Tuesday, April 5th. They set a “buy” rating and a $140.00 price target for the company. Piper Sandler downgraded shares of Upstart from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $230.00 to $44.00 in a report on Tuesday, May 10th. FBN Securities assumed coverage on shares of Upstart in a report on Tuesday, April 12th. They set an “outperform” rating and a $150.00 price target for the company. Finally, Citigroup downgraded shares of Upstart from a “buy” rating to a “neutral” rating and cut their price target for the stock from $180.00 to $50.00 in a report on Tuesday, May 10th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $114.00.

UPST opened at $48.34 on Thursday. The company’s 50 day simple moving average is $87.97 and its two-hundred day simple moving average is $134.87. Upstart has a 1-year low of $25.43 and a 1-year high of $401.49. The firm has a market capitalization of $4.10 billion, a price-to-earnings ratio of 29.48 and a beta of 1.14.

Upstart (NASDAQ:UPSTGet Rating) last released its earnings results on Monday, May 9th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.08. Upstart had a net margin of 15.23% and a return on equity of 20.27%. The business had revenue of $310.14 million for the quarter, compared to analyst estimates of $300.13 million. During the same period last year, the company posted $0.12 EPS. The business’s revenue was up 155.6% on a year-over-year basis. On average, sell-side analysts forecast that Upstart will post 0.68 EPS for the current year.

In related news, General Counsel Alison Nicoll sold 7,500 shares of the business’s stock in a transaction 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 sale, the general counsel now directly owns 186,367 shares of the company’s stock, valued at $16,702,210.54. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Dave Girouard sold 83,333 shares of the business’s stock in a transaction on Friday, April 1st. The shares were sold at an average price of $108.39, for a total transaction of $9,032,463.87. Following the completion of the sale, the chief executive officer now directly owns 87,114 shares of the company’s stock, valued at $9,442,286.46. The disclosure for this sale can be found here. In the last 90 days, insiders sold 200,808 shares of company stock valued at $20,198,547. Insiders own 18.87% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Arizona State Retirement System increased its stake in shares of Upstart by 1.6% during the third quarter. Arizona State Retirement System now owns 5,237 shares of the company’s stock worth $1,657,000 after acquiring an additional 80 shares during the period. Wagner Wealth Management LLC acquired a new position in Upstart during the third quarter worth about $29,000. Hoey Investments Inc. acquired a new position in Upstart during the third quarter worth about $32,000. Manchester Capital Management LLC purchased a new stake in shares of Upstart in the third quarter valued at about $32,000. Finally, O Shaughnessy Asset Management LLC purchased a new stake in shares of Upstart in the third quarter valued at about $33,000. Institutional investors own 59.65% 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.

Recommended Stories

Get a free copy of the Zacks research report on Upstart (UPST)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Upstart (NASDAQ:UPST)

Receive News & Ratings for Upstart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Upstart and related companies with MarketBeat.com's FREE daily email newsletter.