Upstart (UPST) Scheduled to Post Quarterly Earnings on Tuesday

Upstart (NASDAQ:UPST) is set to announce its earnings results after the market closes on Tuesday, November 7th. Analysts expect the company to announce earnings of ($0.02) per share for the quarter. Upstart has set its Q3 2023 guidance at EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

Upstart (NASDAQ:UPST) last announced its quarterly earnings results on Tuesday, August 8th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.15. The company had revenue of $135.77 million for the quarter, compared to analyst estimates of $133.91 million. Upstart had a negative net margin of 49.54% and a negative return on equity of 38.15%. On average, analysts expect Upstart to post $-2 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Upstart Trading Up 10.5 %

Shares of Upstart stock opened at $30.32 on Friday. The firm has a market capitalization of $2.54 billion, a PE ratio of -9.24 and a beta of 2.09. The firm’s 50 day moving average is $28.18 and its 200 day moving average is $31.97. Upstart has a 1 year low of $11.93 and a 1 year high of $72.58.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on UPST shares. Barclays lifted their price target on shares of Upstart from $17.00 to $31.00 and gave the company an “equal weight” rating in a report on Monday, August 14th. BTIG Research cut their target price on shares of Upstart from $72.00 to $64.00 in a research report on Wednesday, August 9th. B. Riley cut their target price on shares of Upstart from $49.00 to $36.00 and set a “neutral” rating on the stock in a research report on Thursday, September 21st. JPMorgan Chase & Co. lifted their target price on shares of Upstart from $23.00 to $28.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 22nd. Finally, Mizuho lifted their target price on shares of Upstart from $16.00 to $19.00 and gave the stock an “underperform” rating in a research report on Monday, August 14th. Five equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $25.92.

Insider Transactions at Upstart

In related news, CFO Sanjay Datta sold 20,013 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $32.62, for a total transaction of $652,824.06. Following the transaction, the chief financial officer now owns 399,764 shares in the company, valued at approximately $13,040,301.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Scott Darling sold 1,670 shares of the business’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $29.92, for a total transaction of $49,966.40. Following the transaction, the insider now owns 184,588 shares in the company, valued at approximately $5,522,872.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sanjay Datta sold 20,013 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $32.62, for a total transaction of $652,824.06. Following the transaction, the chief financial officer now owns 399,764 shares in the company, valued at approximately $13,040,301.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 105,783 shares of company stock worth $3,329,274. Company insiders own 18.45% of the company’s stock.

Institutional Trading of Upstart

A number of hedge funds and other institutional investors have recently bought and sold shares of UPST. Bank of New York Mellon Corp increased its stake in Upstart by 19.8% during the 1st quarter. Bank of New York Mellon Corp now owns 172,118 shares of the company’s stock valued at $18,777,000 after purchasing an additional 28,494 shares in the last quarter. American Century Companies Inc. increased its stake in Upstart by 66.9% during the 1st quarter. American Century Companies Inc. now owns 13,549 shares of the company’s stock valued at $1,478,000 after purchasing an additional 5,429 shares in the last quarter. HighTower Advisors LLC increased its stake in Upstart by 32.0% during the 1st quarter. HighTower Advisors LLC now owns 6,991 shares of the company’s stock valued at $765,000 after purchasing an additional 1,694 shares in the last quarter. Cetera Advisor Networks LLC increased its stake in Upstart by 15.2% during the 1st quarter. Cetera Advisor Networks LLC now owns 3,705 shares of the company’s stock valued at $404,000 after purchasing an additional 488 shares in the last quarter. Finally, Private Advisor Group LLC increased its stake in Upstart by 73.0% during the 1st quarter. Private Advisor Group LLC now owns 6,185 shares of the company’s stock valued at $675,000 after purchasing an additional 2,610 shares in the last quarter. Institutional investors own 42.50% of the company’s stock.

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 aggregates consumer demand for loans and connects it to its network of the company's AI-enabled bank and credit union partners. The company was founded in 2012 and is headquartered in San Mateo, California.