Upstart's (UPST) Buy Rating Reaffirmed at BTIG Research

Upstart (NASDAQ:UPST - Get Free Report)'s stock had its "buy" rating restated by BTIG Research in a research note issued on Tuesday, MarketBeat reports. They currently have a $43.00 target price on the stock. BTIG Research's target price indicates a potential upside of 86.71% from the company's current price.

Several other analysts also recently weighed in on the company. Citigroup dropped their price target on Upstart from $80.00 to $61.00 and set a "buy" rating on the stock in a research note on Wednesday, July 22nd. Piper Sandler lifted their target price on Upstart from $46.00 to $51.00 and gave the stock an "overweight" rating in a report on Wednesday, August 5th. Needham & Company LLC upped their target price on Upstart from $40.00 to $42.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. The Goldman Sachs Group increased their price target on shares of Upstart from $32.00 to $39.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Finally, Jefferies Financial Group restated a "hold" rating and set a $30.00 price objective on shares of Upstart in a research note on Tuesday, June 9th. Eight equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Upstart currently has an average rating of "Hold" and an average price target of $43.75.

Upstart Price Performance

Upstart stock traded down $0.78 during midday trading on Tuesday, reaching $23.03. The company's stock had a trading volume of 5,000,205 shares, compared to its average volume of 4,167,954. The stock has a market capitalization of $2.24 billion, a P/E ratio of 49.60, a PEG ratio of 0.84 and a beta of 2.16. The stock's 50-day simple moving average is $28.02 and its 200-day simple moving average is $29.45. Upstart has a 52-week low of $22.78 and a 52-week high of $57.95.

Upstart (NASDAQ:UPST - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.02). The company had revenue of $364.71 million for the quarter, compared to analyst estimates of $354.74 million. Upstart had a net margin of 4.84% and a return on equity of 7.13%. The business's revenue was up 41.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 EPS. As a group, equities research analysts expect that Upstart will post 0.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Sanjay Datta sold 116,000 shares of the firm's stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $27.29, for a total transaction of $3,165,640.00. Following the sale, the insider owned 476,578 shares in the company, valued at approximately $13,005,813.62. This trade represents a 19.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Paul Gu bought 50,000 shares of the company's stock in a transaction dated Thursday, September 10th. The shares were acquired at an average price of $25.55 per share, for a total transaction of $1,277,500.00. Following the completion of the transaction, the chief executive officer directly owned 130,000 shares in the company, valued at approximately $3,321,500. This trade represents a 62.50% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold 148,652 shares of company stock worth $4,133,720 over the last ninety days. 17.29% of the stock is owned by corporate insiders.

Institutional Trading of Upstart

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc raised its position in Upstart by 26.7% during the second quarter. Versant Capital Management Inc now owns 2,905 shares of the company's stock worth $103,000 after acquiring an additional 612 shares during the period. State of Wyoming increased its stake in shares of Upstart by 10.8% during the first quarter. State of Wyoming now owns 6,901 shares of the company's stock worth $177,000 after purchasing an additional 674 shares in the last quarter. Clearstead Advisors LLC increased its stake in shares of Upstart by 200.0% during the fourth quarter. Clearstead Advisors LLC now owns 1,500 shares of the company's stock worth $66,000 after purchasing an additional 1,000 shares in the last quarter. Pictet Asset Management Holding SA raised its position in shares of Upstart by 7.5% during the 1st quarter. Pictet Asset Management Holding SA now owns 14,528 shares of the company's stock worth $373,000 after purchasing an additional 1,018 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new position in Upstart in the 4th quarter valued at about $48,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

About Upstart

Upstart Holdings, Inc is a financial technology company that operates an artificial intelligence-powered lending marketplace. Its platform connects consumers seeking credit with banks and credit unions, using alternative data and machine-learning models alongside traditional credit information to help lending partners evaluate applicants and originate loans.

The company's offerings include technology for personal lending, auto lending and home equity lending. Upstart provides tools that support the application, underwriting and loan-origination process, while participating financial institutions generally fund and service the loans.