Upstart Holdings, Inc. (NASDAQ:UPST) Given Average Recommendation of “Hold” by Analysts

Upstart Holdings, Inc. (NASDAQ:UPST) has been assigned an average recommendation of “Hold” from the fourteen analysts that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $77.8462.

A number of brokerages have recently issued reports on UPST. Piper Sandler lifted their price target on Upstart from $75.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, August 6th. Bank of America dropped their price target on Upstart from $88.00 to $87.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Needham & Company LLC reiterated a “buy” rating and set a $82.00 price target (up previously from $70.00) on shares of Upstart in a research report on Wednesday, August 6th. The Goldman Sachs Group raised Upstart to a “sell” rating and set a $71.00 price objective on the stock in a report on Monday, July 14th. Finally, Barclays boosted their target price on Upstart from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, May 12th.

Insiders Place Their Bets

In other Upstart news, insider Natalia Mirgorodskaya sold 6,533 shares of Upstart stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $70.06, for a total value of $457,701.98. Following the transaction, the insider directly owned 24,623 shares of the company’s stock, valued at $1,725,087.38. The trade was a 20.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sanjay Datta sold 13,512 shares of Upstart stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $46.97, for a total value of $634,658.64. Following the completion of the transaction, the chief financial officer directly owned 311,356 shares in the company, valued at $14,624,391.32. This trade represents a 4.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 151,650 shares of company stock valued at $9,665,841 in the last ninety days. Company insiders own 16.67% of the company’s stock.

Hedge Funds Weigh In On Upstart

Large investors have recently bought and sold shares of the stock. Two Sigma Advisers LP increased its stake in shares of Upstart by 190.2% during the fourth quarter. Two Sigma Advisers LP now owns 1,709,300 shares of the company’s stock valued at $105,242,000 after buying an additional 1,120,300 shares during the period. Marshall Wace LLP increased its stake in shares of Upstart by 300.2% during the fourth quarter. Marshall Wace LLP now owns 1,061,512 shares of the company’s stock valued at $65,357,000 after buying an additional 796,252 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Upstart during the fourth quarter valued at approximately $43,697,000. Fred Alger Management LLC increased its stake in shares of Upstart by 53.6% during the fourth quarter. Fred Alger Management LLC now owns 1,915,121 shares of the company’s stock valued at $117,914,000 after buying an additional 668,282 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Upstart by 886.0% during the fourth quarter. Invesco Ltd. now owns 709,684 shares of the company’s stock valued at $43,695,000 after buying an additional 637,706 shares during the period. 63.01% of the stock is owned by hedge funds and other institutional investors.

Upstart Trading Down 0.1%

Shares of UPST opened at $63.41 on Wednesday. The company has a market cap of $6.10 billion, a PE ratio of -792.63 and a beta of 2.39. The stock has a 50-day moving average price of $69.34 and a 200-day moving average price of $59.09. Upstart has a 12-month low of $31.40 and a 12-month high of $96.43.

Upstart (NASDAQ:UPST) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.09. The firm had revenue of $257.29 million during the quarter, compared to the consensus estimate of $225.35 million. Upstart had a negative return on equity of 5.95% and a negative net margin of 0.75%. The company’s revenue for the quarter was up 101.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.17) EPS. As a group, analysts predict that Upstart will post -0.03 earnings per share 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.