Analysts Set Upstart Holdings, Inc. (NASDAQ:UPST) Price Target at $70.54

Shares of Upstart Holdings, Inc. (NASDAQ:UPST - Get Free Report) have received a consensus rating of "Hold" from the thirteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $63.31.

Several brokerages recently issued reports on UPST. The Goldman Sachs Group raised their price target on Upstart from $13.50 to $15.00 and gave the stock a "sell" rating in a report on Wednesday, February 12th. Morgan Stanley reduced their price target on shares of Upstart from $70.00 to $50.00 and set an "equal weight" rating for the company in a report on Wednesday. Needham & Company LLC cut their price objective on shares of Upstart from $108.00 to $70.00 and set a "buy" rating on the stock in a research report on Wednesday. Piper Sandler reduced their target price on shares of Upstart from $105.00 to $69.00 and set an "overweight" rating for the company in a research note on Wednesday. Finally, Bank of America upgraded shares of Upstart from an "underperform" rating to a "neutral" rating and set a $53.00 price target on the stock in a research note on Tuesday, April 29th.

Upstart Stock Down 9.6 %

NASDAQ:UPST traded down $4.96 during trading hours on Monday, reaching $46.44. 23,967,940 shares of the stock were exchanged, compared to its average volume of 6,756,560. Upstart has a 52 week low of $20.60 and a 52 week high of $96.43. The stock has a market capitalization of $4.42 billion, a P/E ratio of -31.81 and a beta of 2.39. The firm has a 50 day simple moving average of $47.21 and a 200-day simple moving average of $60.43.

Upstart (NASDAQ:UPST - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.11. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. The company had revenue of $213.37 million for the quarter, compared to the consensus estimate of $201.08 million. During the same period last year, the firm posted ($0.31) EPS. The company's revenue for the quarter was up 67.0% on a year-over-year basis. As a group, analysts expect that Upstart will post -0.03 earnings per share for the current year.

Insider Activity

In other news, CTO Paul Gu sold 12,007 shares of Upstart stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $79.02, for a total value of $948,793.14. Following the transaction, the chief technology officer now owns 1,006,599 shares of the company's stock, valued at $79,541,452.98. The trade was a 1.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Dave Girouard sold 4,524 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $79.01, for a total transaction of $357,441.24. Following the sale, the chief executive officer now owns 52,614 shares of the company's stock, 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 have sold 33,395 shares of company stock worth $2,638,828. 16.67% of the stock is owned by company insiders.

Hedge Funds Weigh In On Upstart

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Inspire Advisors LLC boosted its position in shares of Upstart by 5.8% in the first quarter. Inspire Advisors LLC now owns 7,616 shares of the company's stock worth $351,000 after buying an additional 419 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Upstart by 10.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,825 shares of the company's stock worth $1,005,000 after acquiring an additional 2,132 shares during the period. KLP Kapitalforvaltning AS boosted its position in Upstart by 14.5% during the 1st quarter. KLP Kapitalforvaltning AS now owns 18,200 shares of the company's stock worth $838,000 after acquiring an additional 2,300 shares during the period. Private Advisor Group LLC grew its stake in Upstart by 26.4% during the 1st quarter. Private Advisor Group LLC now owns 14,318 shares of the company's stock valued at $659,000 after acquiring an additional 2,986 shares in the last quarter. Finally, Jackson Creek Investment Advisors LLC acquired a new position in shares of Upstart in the 1st quarter valued at about $877,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

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.