Upstart (NASDAQ:UPST) Stock Price Down 4.8% - Here's What Happened

Key Points

• Upstart Holdings, Inc. (NASDAQ:UPST) experienced a **4.8% decline** in stock price, trading as low as **$65.93** and closing at **$65.88** during mid-day trading.
• Despite the recent drop, Wall Street analysts maintain a **mixed outlook** on the stock, with **six Buy ratings**, **seven Hold ratings**, and one Sell rating, resulting in a **consensus price target of $78.54**.
• Upstart reported a **101.6% year-over-year revenue increase**, achieving **$257.29 million** compared to analyst estimates of **$225.35 million**, while also beating EPS expectations by **$0.09**.

Upstart Holdings, Inc. (NASDAQ:UPST - Get Free Report) was down 4.8% during mid-day trading on Wednesday . The company traded as low as $65.93 and last traded at $65.88. Approximately 2,989,862 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 6,292,950 shares. The stock had previously closed at $69.17.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on UPST shares. Morgan Stanley restated an "equal weight" rating on shares of Upstart in a research report on Wednesday, August 6th. JPMorgan Chase & Co. upgraded shares of Upstart from a "neutral" rating to an "overweight" rating and dropped their price objective for the company from $93.00 to $88.00 in a report on Wednesday, August 20th. Barclays upped their price objective on shares of Upstart from $42.00 to $47.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Piper Sandler upped their price objective on shares of Upstart from $75.00 to $90.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Finally, Stephens assumed coverage on Upstart in a research note on Thursday, June 12th. They set an "equal weight" rating and a $55.00 price target on the stock. Six analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Upstart has an average rating of "Hold" and a consensus price target of $78.54.

Upstart Stock Performance

The stock has a market cap of $6.22 billion, a PE ratio of -806.25 and a beta of 2.37. The company's 50 day simple moving average is $72.75 and its 200 day simple moving average is $58.85.

Upstart (NASDAQ:UPST - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.27 by $0.09. Upstart had a negative net margin of 0.75% and a negative return on equity of 5.95%. The firm had revenue of $257.29 million during the quarter, compared to analyst estimates of $225.35 million. During the same quarter last year, the business posted ($0.17) EPS. The company's revenue for the quarter was up 101.6% on a year-over-year basis. Upstart has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities research analysts expect that Upstart Holdings, Inc. will post -0.03 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Dave Girouard sold 41,667 shares of the business's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $60.05, for a total transaction of $2,502,103.35. Following the completion of the transaction, the chief executive officer owned 52,614 shares of the company's stock, valued at approximately $3,159,470.70. The trade was a 44.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Natalia Mirgorodskaya sold 6,533 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $70.06, for a total value of $457,701.98. Following the completion of the transaction, the insider owned 24,623 shares of the company's stock, valued at $1,725,087.38. The trade was a 20.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 193,142 shares of company stock worth $12,533,502 over the last ninety days. 16.67% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Upstart

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Upstart by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 8,014,656 shares of the company's stock valued at $368,915,000 after acquiring an additional 221,204 shares during the period. Geode Capital Management LLC raised its position in shares of Upstart by 3.8% in the 2nd quarter. Geode Capital Management LLC now owns 2,009,116 shares of the company's stock worth $129,965,000 after purchasing an additional 73,582 shares during the last quarter. Two Sigma Investments LP raised its holdings in 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 buying an additional 321,366 shares during the last quarter. Fred Alger Management LLC raised its holdings in Upstart by 53.6% in the fourth quarter. Fred Alger Management LLC now owns 1,915,121 shares of the company's stock worth $117,914,000 after buying an additional 668,282 shares during the last quarter. Finally, Two Sigma Advisers LP raised its holdings in Upstart by 190.2% in the fourth quarter. Two Sigma Advisers LP now owns 1,709,300 shares of the company's stock worth $105,242,000 after buying an additional 1,120,300 shares during the last quarter. 63.01% of the stock is 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.

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