Upstart Holdings, Inc. (NASDAQ:UPST) Given Average Rating of “Reduce” by Brokerages

Shares of Upstart Holdings, Inc. (NASDAQ:UPSTGet Free Report) have earned an average recommendation of “Reduce” from the twelve brokerages that are currently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $21.65.

Several brokerages recently issued reports on UPST. Piper Sandler reiterated a “neutral” rating and set a $28.00 price objective on shares of Upstart in a report on Tuesday, March 19th. Bank of America assumed coverage on Upstart in a research note on Thursday, April 4th. They set an “underperform” rating and a $22.00 price target for the company. Wedbush reissued an “underperform” rating and issued a $10.00 price target on shares of Upstart in a research note on Wednesday, May 8th. JMP Securities reaffirmed a “market perform” rating on shares of Upstart in a research report on Wednesday, April 17th. Finally, Redburn Atlantic raised shares of Upstart from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $22.50 to $25.50 in a research report on Tuesday, June 4th.

Get Our Latest Research Report on Upstart

Upstart Price Performance

NASDAQ:UPST opened at $21.88 on Friday. The stock has a market cap of $1.92 billion, a PE ratio of -10.62 and a beta of 2.01. Upstart has a fifty-two week low of $19.84 and a fifty-two week high of $72.58. The stock’s 50-day moving average is $24.04 and its two-hundred day moving average is $29.09.

Upstart (NASDAQ:UPSTGet Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.74) EPS for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.06. The firm had revenue of $127.79 million for the quarter, compared to the consensus estimate of $124.82 million. Upstart had a negative net margin of 32.59% and a negative return on equity of 27.89%. On average, equities research analysts anticipate that Upstart will post -2.67 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Natalia Mirgorodskaya sold 2,156 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $24.27, for a total value of $52,326.12. Following the sale, the insider now directly owns 25,821 shares of the company’s stock, valued at $626,675.67. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CTO Paul Gu sold 15,000 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $25.20, for a total transaction of $378,000.00. Following the transaction, the chief technology officer now owns 894,629 shares of the company’s stock, valued at $22,544,650.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Natalia Mirgorodskaya sold 2,156 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $24.27, for a total transaction of $52,326.12. Following the completion of the sale, the insider now directly owns 25,821 shares of the company’s stock, valued at $626,675.67. The disclosure for this sale can be found here. Insiders have sold 199,610 shares of company stock worth $5,455,273 in the last quarter. 18.06% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. New York State Common Retirement Fund increased its stake in Upstart by 1.8% during the third quarter. New York State Common Retirement Fund now owns 30,588 shares of the company’s stock valued at $873,000 after acquiring an additional 535 shares during the period. Swiss National Bank increased its position in shares of Upstart by 1.1% during the third quarter. Swiss National Bank now owns 154,500 shares of the company’s stock valued at $4,409,000 after purchasing an additional 1,700 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Upstart by 4.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 555,713 shares of the company’s stock valued at $15,860,000 after purchasing an additional 21,344 shares in the last quarter. Deutsche Bank AG lifted its position in Upstart by 4.5% in the third quarter. Deutsche Bank AG now owns 73,137 shares of the company’s stock worth $2,087,000 after purchasing an additional 3,121 shares during the period. Finally, Rhumbline Advisers boosted its stake in Upstart by 1.8% during the third quarter. Rhumbline Advisers now owns 103,151 shares of the company’s stock worth $2,944,000 after buying an additional 1,860 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

About Upstart

(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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Analyst Recommendations for Upstart (NASDAQ:UPST)

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