Barclays Raises Upstart (NASDAQ:UPST) Price Target to $47.00

Upstart (NASDAQ:UPST - Free Report) had its target price upped by Barclays from $42.00 to $47.00 in a research note issued to investors on Monday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

A number of other research analysts have also issued reports on UPST. 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 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 note on Wednesday, February 12th. Piper Sandler lowered their price target on Upstart from $105.00 to $69.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. The Goldman Sachs Group lifted their price objective on Upstart from $15.00 to $16.50 and gave the company a "sell" rating in a report on Thursday, May 8th. Finally, Morgan Stanley lowered their target price on shares of Upstart from $70.00 to $50.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Upstart presently has a consensus rating of "Hold" and an average price target of $63.81.

Upstart Trading Down 5.3%

NASDAQ:UPST traded down $2.70 during midday trading on Monday, hitting $48.63. 4,521,517 shares of the stock were exchanged, compared to its average volume of 6,713,864. The company has a market capitalization of $4.63 billion, a price-to-earnings ratio of -33.29 and a beta of 2.39. Upstart has a one year low of $20.60 and a one year high of $96.43. The business has a 50-day moving average price of $46.07 and a two-hundred day moving average price of $60.31.

Upstart (NASDAQ:UPST - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.19 by $0.11. The firm had revenue of $213.37 million during 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 firm's revenue for the quarter was up 67.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.31) earnings per share. Sell-side analysts forecast that Upstart will post -0.03 EPS for the current fiscal year.

Insider Buying and Selling

In other Upstart news, insider Natalia Mirgorodskaya sold 794 shares of the company's 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 completion of the transaction, the insider now owns 21,985 shares of the company's stock, valued at $1,737,254.70. This represents a 3.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Dave Girouard sold 4,524 shares of Upstart stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $79.01, for a total transaction of $357,441.24. Following the completion of the sale, the chief executive officer now owns 52,614 shares in the company, valued at $4,157,032.14. This trade represents a 7.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,395 shares of company stock valued at $2,638,828 in the last 90 days. 16.67% of the stock is owned by insiders.

Hedge Funds Weigh In On Upstart

A number of institutional investors have recently added to or reduced their stakes in UPST. Magnetar Financial LLC lifted its stake in Upstart by 949.0% in the 1st quarter. Magnetar Financial LLC now owns 121,701 shares of the company's stock valued at $5,602,000 after purchasing an additional 110,099 shares during the last quarter. Driehaus Capital Management LLC raised its stake in Upstart by 71.5% in the first quarter. Driehaus Capital Management LLC now owns 1,215,237 shares of the company's stock valued at $55,937,000 after buying an additional 506,787 shares during the period. Canada Pension Plan Investment Board acquired a new stake in shares of Upstart in the first quarter valued at approximately $7,945,000. Landscape Capital Management L.L.C. boosted its stake in shares of Upstart by 222.0% during the 1st quarter. Landscape Capital Management L.L.C. now owns 70,117 shares of the company's stock worth $3,227,000 after acquiring an additional 48,342 shares during the period. Finally, Ieq Capital LLC boosted its stake in shares of Upstart by 75.4% during the 1st quarter. Ieq Capital LLC now owns 12,654 shares of the company's stock worth $582,000 after acquiring an additional 5,441 shares during the period. 63.01% of the stock is currently owned by institutional investors and hedge funds.

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.