Upstart Holdings, Inc. (NASDAQ:UPST - Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $53.40, but opened at $55.53. Upstart shares last traded at $57.64, with a volume of 2,034,287 shares traded.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on UPST. Stephens began coverage on Upstart in a report on Thursday, June 12th. They set an "equal weight" rating and a $55.00 target price for the company. Needham & Company LLC reissued a "buy" rating and set a $70.00 target price on shares of Upstart in a report on Monday, May 19th. Piper Sandler dropped their target price on Upstart from $105.00 to $69.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. The Goldman Sachs Group lifted their target price on Upstart from $15.00 to $16.50 and gave the stock a "sell" rating in a report on Thursday, May 8th. Finally, Bank of America raised Upstart from an "underperform" rating to a "neutral" rating and set a $53.00 target price for the company in a report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $66.96.
Read Our Latest Research Report on UPST
Upstart Price Performance
The company has a market capitalization of $5.64 billion, a P/E ratio of -79.05 and a beta of 2.29. The company has a fifty day moving average price of $47.80 and a two-hundred day moving average price of $57.69.
Upstart (NASDAQ:UPST - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.19 by $0.11. Upstart had a negative return on equity of 15.27% and a negative net margin of 9.20%. The business had revenue of $213.37 million for the quarter, compared to analysts' expectations of $201.08 million. During the same period in the prior year, the business posted ($0.31) earnings per share. The firm's revenue was up 67.0% on a year-over-year basis. As a group, sell-side analysts forecast that Upstart Holdings, Inc. will post -0.03 earnings per share for the current year.
Insider Activity at Upstart
In related news, insider Natalia Mirgorodskaya sold 764 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $46.96, for a total value of $35,877.44. Following the completion of the sale, the insider now directly owns 25,963 shares of the company's stock, valued at approximately $1,219,222.48. This represents a 2.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Sanjay Datta sold 13,512 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $46.97, for a total value of $634,658.64. Following the completion of the sale, the chief financial officer now directly owns 311,356 shares of the company's stock, valued at $14,624,391.32. The trade was a 4.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 57,783 shares of company stock worth $3,257,814 over the last ninety days. Insiders own 16.67% of the company's stock.
Institutional Investors Weigh In On Upstart
A number of institutional investors and hedge funds have recently bought and sold shares of UPST. Rakuten Securities Inc. bought a new position in Upstart in the 4th quarter valued at $31,000. Virtus Fund Advisers LLC bought a new position in Upstart in the 4th quarter valued at $32,000. Farther Finance Advisors LLC grew its stake in Upstart by 24.2% in the 4th quarter. Farther Finance Advisors LLC now owns 882 shares of the company's stock valued at $54,000 after purchasing an additional 172 shares during the period. Mackenzie Financial Corp bought a new position in Upstart in the 4th quarter valued at $62,000. Finally, Blue Trust Inc. grew its stake in Upstart by 49.1% in the 4th quarter. Blue Trust Inc. now owns 1,475 shares of the company's stock valued at $91,000 after purchasing an additional 486 shares during the period. 63.01% of the stock is owned by hedge funds and other institutional investors.
Upstart Company Profile
(
Get Free Report)
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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