Upstart (NASDAQ:UPST) Sets New 52-Week High on Analyst Upgrade

Upstart Holdings, Inc. (NASDAQ:UPST)’s stock price reached a new 52-week high during trading on Friday after Wedbush raised their price target on the stock from $45.00 to $60.00. Wedbush currently has a neutral rating on the stock. Upstart traded as high as $64.30 and last traded at $64.30, with a volume of 1035751 shares. The stock had previously closed at $55.47.

Other analysts also recently issued reports about the company. Citigroup upgraded Upstart from a “neutral” rating to a “buy” rating and raised their target price for the company from $56.00 to $87.00 in a research note on Friday. Needham & Company LLC reissued a “hold” rating on shares of Upstart in a research note on Thursday, August 8th. Barclays upped their target price on Upstart from $25.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. raised shares of Upstart from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $30.00 to $45.00 in a research report on Friday. Finally, Piper Sandler upgraded shares of Upstart from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $31.00 to $85.00 in a report on Friday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $46.83.

Insider Transactions at Upstart

In related news, CFO Sanjay Datta sold 1,500 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $51.70, for a total transaction of $77,550.00. Following the transaction, the chief financial officer now directly owns 334,093 shares of the company’s stock, valued at $17,272,608.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Upstart news, CFO Sanjay Datta sold 1,500 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $51.70, for a total value of $77,550.00. Following the completion of the sale, the chief financial officer now owns 334,093 shares in the company, valued at approximately $17,272,608.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Dave Girouard sold 3,361 shares of Upstart stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $38.35, for a total transaction of $128,894.35. Following the transaction, the chief executive officer now directly owns 61,512 shares in the company, valued at approximately $2,358,985.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 312,959 shares of company stock worth $13,724,175 in the last quarter. 18.06% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Private Advisor Group LLC grew its position in Upstart by 13.6% during the first quarter. Private Advisor Group LLC now owns 17,936 shares of the company’s stock valued at $482,000 after buying an additional 2,149 shares during the period. Quantbot Technologies LP bought a new position in shares of Upstart during the 1st quarter valued at approximately $658,000. Swiss National Bank increased its stake in shares of Upstart by 1.6% during the 1st quarter. Swiss National Bank now owns 142,700 shares of the company’s stock worth $3,837,000 after purchasing an additional 2,200 shares during the last quarter. TCI Wealth Advisors Inc. increased its stake in shares of Upstart by 18.0% during the 1st quarter. TCI Wealth Advisors Inc. now owns 39,971 shares of the company’s stock worth $1,075,000 after purchasing an additional 6,088 shares during the last quarter. Finally, Inspire Advisors LLC raised its holdings in shares of Upstart by 5.8% in the 1st quarter. Inspire Advisors LLC now owns 16,143 shares of the company’s stock worth $434,000 after purchasing an additional 890 shares during the period. Institutional investors own 63.01% of the company’s stock.

Upstart Stock Up 46.0 %

The firm has a 50 day moving average of $43.81 and a 200 day moving average of $32.99. The firm has a market cap of $7.25 billion, a PE ratio of -32.50 and a beta of 1.97.

Upstart (NASDAQ:UPST) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.22. Upstart had a negative return on equity of 32.01% and a negative net margin of 38.05%. The firm had revenue of $127.63 million for the quarter, compared to analysts’ expectations of $124.55 million. During the same quarter in the prior year, the firm earned ($0.34) EPS. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. On average, research analysts anticipate that Upstart Holdings, Inc. will post -2.39 EPS for the current 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.