Upstart (NASDAQ:UPST) Upgraded to "Overweight" at Piper Sandler

Upstart (NASDAQ:UPST - Get Free Report) was upgraded by Piper Sandler to an "overweight" rating in a research report issued on Tuesday, MarketBeat.com reports. The brokerage currently has a $75.00 target price on the stock. Piper Sandler's price target would suggest a potential upside of 20.12% from the stock's previous close.

Several other equities analysts also recently issued reports on the company. Stephens began coverage on Upstart in a research report on Thursday, June 12th. They set an "equal weight" rating and a $55.00 price objective for the company. Barclays boosted their price target on Upstart from $42.00 to $47.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Bank of America raised Upstart from an "underperform" rating to a "neutral" rating and set a $53.00 price target on the stock in a report on Tuesday, April 29th. Morgan Stanley reduced their price objective on shares of Upstart from $70.00 to $50.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. Finally, Needham & Company LLC reissued a "buy" rating and set a $70.00 target price on shares of Upstart in a research note on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $67.42.

Upstart Trading Down 3.7%

UPST traded down $2.41 during trading on Tuesday, reaching $62.44. 5,311,751 shares of the company were exchanged, compared to its average volume of 6,808,024. Upstart has a 52 week low of $20.60 and a 52 week high of $96.43. The firm has a 50 day moving average of $49.78 and a 200 day moving average of $57.24. The stock has a market cap of $5.94 billion, a P/E ratio of -83.25 and a beta of 2.29.

Upstart (NASDAQ:UPST - Get Free Report) last announced its quarterly 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. Upstart had a negative net margin of 9.20% and a negative return on equity of 15.27%. The company had revenue of $213.37 million during the quarter, compared to the consensus estimate of $201.08 million. During the same quarter in the previous year, the company posted ($0.31) earnings per share. The company's revenue for the quarter was up 67.0% compared to the same quarter last year. As a group, analysts forecast that Upstart will post -0.03 earnings per share for the current fiscal year.

Insider Activity at Upstart

In other news, insider Natalia Mirgorodskaya sold 1,340 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $44.19, for a total transaction of $59,214.60. Following the completion of the sale, the insider now directly owns 24,623 shares of the company's stock, valued at $1,088,090.37. This trade represents a 5.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dave Girouard sold 41,667 shares of Upstart stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $60.05, for a total value of $2,502,103.35. Following the sale, the chief executive officer now owns 52,614 shares of the company's stock, valued at approximately $3,159,470.70. This represents a 44.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 99,450 shares of company stock valued at $5,759,917 over the last ninety days. Insiders own 16.67% of the company's stock.

Institutional Trading of Upstart

Several large investors have recently added to or reduced their stakes in UPST. Rakuten Securities Inc. acquired a new stake in Upstart in the 4th quarter worth $31,000. Virtus Fund Advisers LLC bought a new stake in shares of Upstart in the fourth quarter valued at about $32,000. Farther Finance Advisors LLC grew its position in Upstart by 24.2% during the fourth quarter. Farther Finance Advisors LLC now owns 882 shares of the company's stock worth $54,000 after buying an additional 172 shares in the last quarter. Mackenzie Financial Corp acquired a new stake in Upstart during the fourth quarter worth about $62,000. Finally, GAMMA Investing LLC increased its stake in Upstart by 23.3% during the first quarter. GAMMA Investing LLC now owns 1,662 shares of the company's stock valued at $77,000 after acquiring an additional 314 shares during the period. 63.01% of the stock is owned by institutional investors.

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.