Upstart (NASDAQ:UPST – Get Rating) updated its second quarter 2022 earnings guidance on Monday. The company provided earnings per share guidance of $0.29-$0.31 for the period, compared to the consensus earnings per share estimate of $0.54. The company issued revenue guidance of $295.00 million-$305.00 million, compared to the consensus revenue estimate of $334.81 million.Upstart also updated its FY 2022 guidance to EPS.
A number of equities research analysts have commented on the stock. Wedbush dropped their price objective on shares of Upstart from $70.00 to $35.00 in a research report on Tuesday, May 10th. Stephens downgraded shares of Upstart from an equal weight rating to an underweight rating and dropped their price objective for the company from $124.00 to $28.00 in a research report on Tuesday, May 10th. Piper Sandler cut shares of Upstart from an overweight rating to a neutral rating and lowered their target price for the company from $230.00 to $44.00 in a report on Tuesday, May 10th. Barclays cut shares of Upstart from an overweight rating to an equal weight rating and set a $35.00 target price for the company. in a report on Wednesday, May 11th. Finally, Zacks Investment Research cut shares of Upstart from a hold rating to a sell rating in a report on Wednesday, May 11th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Upstart currently has an average rating of Hold and an average target price of $114.00.
NASDAQ:UPST traded up $1.21 during trading hours on Tuesday, reaching $39.00. 127,143 shares of the company’s stock were exchanged, compared to its average volume of 13,706,342. Upstart has a 1-year low of $25.43 and a 1-year high of $401.49. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 23.04 and a beta of 1.14. The company has a 50-day moving average of $90.66 and a 200 day moving average of $136.10.
In related news, CEO Dave Girouard sold 41,667 shares of the firm’s stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $3,333,360.00. Following the sale, the chief executive officer now directly owns 87,114 shares of the company’s stock, valued at $6,969,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Alison Nicoll sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 16th. The stock was sold at an average price of $144.05, for a total transaction of $1,080,375.00. The disclosure for this sale can be found here. Insiders sold a total of 207,708 shares of company stock valued at $21,254,868 in the last quarter. Insiders own 18.87% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its position in Upstart by 5.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,447 shares of the company’s stock valued at $522,000 after buying an additional 164 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Upstart during the fourth quarter valued at approximately $26,000. Guggenheim Capital LLC lifted its position in Upstart by 18.0% during the first quarter. Guggenheim Capital LLC now owns 2,101 shares of the company’s stock valued at $229,000 after buying an additional 320 shares in the last quarter. Toroso Investments LLC lifted its position in Upstart by 17.9% during the fourth quarter. Toroso Investments LLC now owns 2,208 shares of the company’s stock valued at $334,000 after buying an additional 335 shares in the last quarter. Finally, Salem Investment Counselors Inc. raised its stake in shares of Upstart by 50.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 1,050 shares of the company’s stock valued at $159,000 after purchasing an additional 350 shares during the period. 59.65% of the stock is currently owned by hedge funds and other institutional investors.
About Upstart (Get Rating)
Upstart Holdings, Inc operates a cloud- based artificial intelligence (AI) lending platform in the United States. The company's platform aggregates consumer demand for loans and connects it to its network of the company's AI- enabled bank partners. Its platform connects consumers, banks, and institutional investors through a shared AI lending platform.
- Get a free copy of the StockNews.com research report on Upstart (UPST)
- Walmart’s “Everyday Low Prices” Gets Burned By Inflation
- VMWare Inc: Strong Revenues and Excellent Potential
- Beware The Rebound In Home Depot
- Time to Ride These 3 Mid Cap Momentum Plays
- Etsy Buy!: Why Etsy Stock is Making a Crafty Comeback
Receive News & Ratings for Upstart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Upstart and related companies with MarketBeat.com's FREE daily email newsletter.