Barclays Raises Upstart (NASDAQ:UPST) Price Target to $35.00

Upstart (NASDAQ:UPST) had its price target boosted by Barclays from $25.00 to $35.00 in a report released on Monday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other brokerages also recently commented on UPST. Citigroup upgraded shares of Upstart from a sell rating to a neutral rating and upped their target price for the stock from $15.00 to $33.00 in a research note on Wednesday, August 7th. Mizuho upgraded Upstart from an underperform rating to an outperform rating and raised their price objective for the stock from $17.00 to $31.00 in a report on Wednesday, July 31st. JMP Securities reissued a market perform rating on shares of Upstart in a research report on Wednesday, April 17th. Needham & Company LLC restated a hold rating on shares of Upstart in a report on Thursday, August 8th. Finally, BTIG Research started coverage on shares of Upstart in a research note on Friday, June 7th. They issued a sell rating and a $14.00 price objective for the company. 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 stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $24.86.

Upstart Stock Performance

Shares of NASDAQ UPST opened at $36.08 on Monday. Upstart has a fifty-two week low of $19.84 and a fifty-two week high of $49.62. The company has a market cap of $3.17 billion, a price-to-earnings ratio of -17.51 and a beta of 1.97. The business’s 50 day moving average price is $26.16 and its 200-day moving average price is $26.06.

Upstart (NASDAQ:UPST) last released its earnings results on Tuesday, August 6th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.22. The business had revenue of $127.63 million for the quarter, compared to analyst estimates of $124.55 million. Upstart had a negative return on equity of 32.01% and a negative net margin of 38.05%. The business’s revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.34) earnings per share. Sell-side analysts predict that Upstart will post -2.7 earnings per share for the current year.

Insider Activity

In related news, insider Scott Darling sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $25.44, for a total transaction of $76,320.00. Following the completion of the transaction, the insider now owns 196,993 shares in the company, valued at approximately $5,011,501.92. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Sanjay Datta sold 18,138 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $25.61, for a total value of $464,514.18. Following the completion of the sale, the chief financial officer now owns 382,398 shares of the company’s stock, valued at approximately $9,793,212.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott Darling sold 3,000 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $25.44, for a total value of $76,320.00. Following the transaction, the insider now owns 196,993 shares in the company, valued at $5,011,501.92. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 91,610 shares of company stock worth $2,363,933. Corporate insiders own 18.06% of the company’s stock.

Institutional Investors Weigh In On Upstart

Institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC purchased a new position in shares of Upstart in the 4th quarter valued at approximately $25,000. Anfield Capital Management LLC acquired a new position in Upstart during the 2nd quarter valued at approximately $33,000. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Upstart by 80.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,743 shares of the company’s stock worth $47,000 after buying an additional 778 shares during the last quarter. Strs Ohio acquired a new stake in shares of Upstart during the fourth quarter worth $57,000. Finally, ICA Group Wealth Management LLC purchased a new stake in shares of Upstart during the fourth quarter valued at $61,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

About Upstart

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.