Upstart Holdings, Inc. (NASDAQ:UPST) Stock Has Average Target Price of $43.75

Key Points

• Analyst sentiment is mixed: Seventeen brokerages give Upstart an average “Hold” rating, with a consensus 12-month price target of $43.75 versus a recent share price of $24.10.
• Upstart reported quarterly revenue of $364.71 million, up 41.9% year over year and above estimates, but earnings per share of $0.16 missed consensus by $0.02.
• Insider activity was mixed: CEO Paul Gu purchased 50,000 shares, while the CFO sold shares to cover tax obligations; institutional investors own approximately 63% of the company.

Shares of Upstart Holdings, Inc. (NASDAQ:UPST - Get Free Report) have earned an average recommendation of "Hold" from the seventeen brokerages that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $43.75.

Several research firms have recently commented on UPST. The Goldman Sachs Group upped their target price on Upstart from $32.00 to $39.00 and gave the company a "neutral" rating in a report on Thursday, July 9th. Weiss Ratings downgraded Upstart from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, September 28th. Loop Capital initiated coverage on Upstart in a report on Tuesday, September 8th. They issued a "hold" rating and a $34.00 price target on the stock. BTIG Research restated a "buy" rating and set a $43.00 price objective on shares of Upstart in a research report on Tuesday, September 22nd. Finally, Needham & Company LLC restated a "buy" rating and set a $42.00 price objective on shares of Upstart in a research note on Tuesday, October 6th.

Upstart Price Performance

Shares of NASDAQ:UPST opened at $24.10 on Monday. Upstart has a fifty-two week low of $22.56 and a fifty-two week high of $55.22. The firm has a 50-day simple moving average of $27.18 and a 200 day simple moving average of $29.20. The company has a market cap of $2.35 billion, a PE ratio of 49.18, a P/E/G ratio of 0.85 and a beta of 2.43.

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

Insider Activity

In other news, CFO Andrea Blankmeyer sold 7,175 shares of the company's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $29.36, for a total transaction of $210,658.00. Following the completion of the transaction, the chief financial officer owned 155,208 shares in the company, valued at approximately $4,556,906.88. This represents a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Paul Gu acquired 50,000 shares of the company's stock in a transaction that occurred on Thursday, September 10th. The stock was purchased at an average cost of $25.55 per share, for a total transaction of $1,277,500.00. Following the acquisition, the chief executive officer 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 SEC filing for this purchase provides additional information. Insiders have sold a total of 148,652 shares of company stock worth $4,133,720 over the last ninety days. Insiders own 17.29% of the company's stock.

Institutional Investors Weigh In On Upstart

Several large investors have recently made changes to their positions in UPST. Maxi Investments CY Ltd bought a new stake in shares of Upstart during the second quarter valued at about $6,852,000. Azora Capital LP bought a new position in Upstart in the 4th quarter valued at about $38,580,000. Legal & General Group Plc bought a new position in Upstart in the 2nd quarter valued at about $2,589,000. Deutsche Bank AG bought a new position in Upstart in the 2nd quarter valued at about $3,385,000. Finally, The Manufacturers Life Insurance Company bought a new position in Upstart in the 2nd quarter valued at about $1,557,000. Institutional investors and hedge funds own 63.01% of the company's stock.

Upstart Company Profile

Upstart Holdings, Inc NASDAQ: UPST operates an artificial intelligence-powered lending platform that connects consumers seeking credit with banks and credit unions. Its technology is designed to evaluate a broader range of borrower information than traditional credit-scoring methods, with the goal of helping lending partners assess risk and automate portions of the application and underwriting process.

The company's platform supports lending products including personal loans, automotive loans and refinancing, and home equity lines of credit.

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