Upstart (NASDAQ:UPST) Rating Increased to Overweight at JPMorgan Chase & Co.

Key Points

• Upstart has been upgraded by JPMorgan Chase & Co. from a "neutral" to an "overweight" rating, with a target price of $88.00, indicating a potential upside of 42.90%.
• The company reported quarterly earnings of $0.36 EPS for the last quarter, surpassing the consensus estimate of $0.27, with a revenue increase of 101.6% year-over-year.
• Insider trading activity included significant sales by CEO Dave Girouard, who reduced his holdings by 44.19%, signaling potential concerns among company leadership.

JPMorgan Chase & Co. upgraded shares of Upstart (NASDAQ:UPST - Free Report) from a neutral rating to an overweight rating in a report released on Wednesday morning, MarketBeat reports. JPMorgan Chase & Co. currently has $88.00 price objective on the stock, down from their prior price objective of $93.00.

UPST has been the subject of several other reports. Piper Sandler increased 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. The Goldman Sachs Group raised shares of Upstart to a "sell" rating and set a $71.00 target price for the company in a research note on Monday, July 14th. Barclays increased their target price on shares of Upstart from $42.00 to $47.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Needham & Company LLC reissued a "buy" rating and set a $82.00 target price (up from $70.00) on shares of Upstart in a research note on Wednesday, August 6th. Finally, Bank of America cut their target price on shares of Upstart from $88.00 to $87.00 and set a "neutral" rating for the company in a research note on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Upstart presently has an average rating of "Hold" and an average price target of $78.54.

Upstart Price Performance

Shares of Upstart stock traded up $1.2380 on Wednesday, hitting $70.0880. The company had a trading volume of 3,691,736 shares, compared to its average volume of 6,323,826. The business has a 50-day simple moving average of $70.98 and a 200-day simple moving average of $59.02. The company has a market cap of $6.74 billion, a PE ratio of -877.80 and a beta of 2.39. Upstart has a 52 week low of $31.40 and a 52 week high of $96.43.

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

Insiders Place Their Bets

In other Upstart news, CFO Sanjay Datta sold 13,473 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $61.12, for a total value of $823,469.76. Following the completion of the sale, the chief financial officer owned 297,904 shares in the company, valued at $18,207,892.48. This represents a 4.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dave Girouard sold 41,667 shares of the stock in a transaction that occurred on 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 sale, 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 192,253 shares of company stock worth $12,461,780. Corporate insiders own 16.67% of the company's stock.

Institutional Investors Weigh In On Upstart

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UPST. Two Sigma Advisers LP lifted its position in Upstart by 190.2% in the 4th 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 in the last quarter. Norges Bank purchased a new stake in Upstart in the 2nd quarter worth approximately $67,777,000. Fuller & Thaler Asset Management Inc. purchased a new stake in Upstart in the 4th quarter worth approximately $43,697,000. Mane Global Capital Management LP purchased a new stake in Upstart in the 2nd quarter worth approximately $43,576,000. Finally, Fred Alger Management LLC lifted its position in Upstart by 53.6% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 63.01% of the company's stock.

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.