Morgan Stanley Has Lowered Expectations for Upstart (NASDAQ:UPST) Stock Price

Upstart (NASDAQ:UPST - Get Free Report) had its target price decreased by research analysts at Morgan Stanley from $70.00 to $50.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's target price indicates a potential downside of 2.72% from the company's previous close.

A number of other analysts have also recently issued reports on the company. Needham & Company LLC upped their target price on Upstart from $100.00 to $108.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Citigroup raised their target price on shares of Upstart from $87.00 to $108.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. B. Riley upgraded shares of Upstart from a "neutral" rating to a "buy" rating and upped their price objective for the company from $49.00 to $105.00 in a research report on Wednesday, February 12th. Bank of America raised shares of Upstart from an "underperform" rating to a "neutral" rating and set a $53.00 price objective for the company in a research report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. raised Upstart from an "underweight" rating to a "neutral" rating and upped their target price for the company from $57.00 to $79.00 in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Upstart currently has a consensus rating of "Hold" and an average target price of $69.00.

Upstart Stock Performance

Shares of UPST opened at $51.40 on Wednesday. The firm has a market capitalization of $4.89 billion, a P/E ratio of -35.21 and a beta of 2.39. The stock has a 50 day moving average price of $47.21 and a two-hundred day moving average price of $60.43. Upstart has a 52 week low of $20.60 and a 52 week high of $96.43.

Upstart (NASDAQ:UPST - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.11. The business had revenue of $213.37 million for the quarter, compared to analysts' expectations of $201.08 million. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. The business's revenue for the quarter was up 67.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.31) EPS. On average, equities analysts forecast that Upstart will post -0.03 earnings per share for the current year.

Insiders Place Their Bets

In other Upstart news, insider Natalia Mirgorodskaya sold 794 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $79.02, for a total transaction of $62,741.88. Following the transaction, the insider now owns 21,985 shares of the company's stock, valued at $1,737,254.70. This trade represents a 3.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Dave Girouard sold 4,524 shares of Upstart stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $79.01, for a total value of $357,441.24. Following the completion of the transaction, the chief executive officer now owns 52,614 shares in the company, valued at $4,157,032.14. The trade was a 7.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,395 shares of company stock worth $2,638,828. 16.67% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of UPST. Vanguard Group Inc. increased its holdings in Upstart by 5.0% in the fourth quarter. Vanguard Group Inc. now owns 7,793,452 shares of the company's stock valued at $479,843,000 after purchasing an additional 369,640 shares during the period. Two Sigma Investments LP grew its stake in shares of Upstart by 20.1% in the fourth quarter. Two Sigma Investments LP now owns 1,922,770 shares of the company's stock worth $118,385,000 after acquiring an additional 321,366 shares during the last quarter. Fred Alger Management LLC lifted its stake in shares of Upstart by 53.6% in the 4th quarter. Fred Alger Management LLC now owns 1,915,121 shares of the company's stock worth $117,914,000 after purchasing an additional 668,282 shares during the period. Geode Capital Management LLC grew its stake in Upstart by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 1,846,438 shares of the company's stock valued at $113,711,000 after acquiring an additional 29,664 shares in the last quarter. Finally, Two Sigma Advisers LP raised its position in Upstart by 190.2% in the 4th quarter. Two Sigma Advisers LP now owns 1,709,300 shares of the company's stock worth $105,242,000 after purchasing an additional 1,120,300 shares during the period. Institutional investors own 63.01% 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 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.

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