Upstart (NASDAQ:UPST) PT Raised to $31.00 at Piper Sandler

Upstart (NASDAQ:UPST) had its target price boosted by Piper Sandler from $28.00 to $31.00 in a research note published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts have also issued reports on UPST. JMP Securities reaffirmed a market perform rating on shares of Upstart in a report on Wednesday, April 17th. Redburn Atlantic upgraded shares of Upstart from a sell rating to a neutral rating and lifted their price target for the company from $22.50 to $25.50 in a report on Tuesday, June 4th. Mizuho upgraded Upstart from an underperform rating to an outperform rating and raised their price objective for the company from $17.00 to $31.00 in a research report on Wednesday, July 31st. Needham & Company LLC reiterated a hold rating on shares of Upstart in a research report on Wednesday, May 8th. Finally, BTIG Research initiated coverage on Upstart in a research note on Friday, June 7th. They issued a sell rating and a $14.00 price objective on the stock. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $24.50.

Upstart Trading Up 6.0 %

NASDAQ UPST opened at $36.25 on Wednesday. Upstart has a 12 month low of $19.84 and a 12 month high of $49.62. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of -17.60 and a beta of 1.97. The company’s 50 day moving average is $25.50 and its two-hundred day moving average is $26.00.

Upstart (NASDAQ:UPST) last issued its earnings results on Tuesday, August 6th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.22. Upstart had a negative net margin of 38.05% and a negative return on equity of 31.57%. The company had revenue of $127.63 million during the quarter, compared to the consensus estimate of $124.55 million. During the same quarter in the prior year, the firm posted ($0.34) EPS. Upstart’s quarterly revenue was down 6.0% compared to the same quarter last year. Sell-side analysts forecast that Upstart will post -2.7 EPS for the current year.

Insider Buying and Selling

In other Upstart news, CEO Dave Girouard sold 2,997 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $25.62, for a total value of $76,783.14. Following the completion of the sale, the chief executive officer now directly owns 64,873 shares in the company, valued at approximately $1,662,046.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CTO Paul Gu sold 80,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $29.52, for a total value of $2,361,600.00. Following the completion of the transaction, the chief technology officer now owns 893,596 shares of the company’s stock, valued at $26,378,953.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dave Girouard sold 2,997 shares of Upstart stock in a transaction on Monday, May 20th. The shares were sold at an average price of $25.62, for a total value of $76,783.14. Following the completion of the transaction, the chief executive officer now owns 64,873 shares in the company, valued at $1,662,046.26. The disclosure for this sale can be found here. Insiders have sold a total of 171,610 shares of company stock valued at $4,725,533 over the last quarter. 18.06% of the stock is owned by corporate insiders.

Institutional Trading of Upstart

Several hedge funds have recently modified their holdings of the company. WINTON GROUP Ltd acquired a new stake in Upstart in the second quarter valued at approximately $841,000. Inspire Advisors LLC boosted its holdings in Upstart by 3.0% in the second quarter. Inspire Advisors LLC now owns 16,623 shares of the company’s stock worth $392,000 after acquiring an additional 480 shares in the last quarter. Headlands Technologies LLC grew its stake in shares of Upstart by 61.9% during the second quarter. Headlands Technologies LLC now owns 58,571 shares of the company’s stock worth $1,382,000 after acquiring an additional 22,390 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Upstart by 18.2% during the second quarter. Daiwa Securities Group Inc. now owns 2,657 shares of the company’s stock valued at $63,000 after acquiring an additional 409 shares in the last quarter. Finally, Fiducient Advisors LLC raised its position in shares of Upstart by 63.6% in the 2nd quarter. Fiducient Advisors LLC now owns 18,000 shares of the company’s stock valued at $425,000 after purchasing an additional 7,000 shares during the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

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.