Upstart (NASDAQ:UPST) Stock Rating Upgraded by JPMorgan Chase & Co.

Upstart (NASDAQ:UPST) was upgraded by investment analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a note issued to investors on Friday,Briefing.com Automated Import reports. The firm currently has a $45.00 price target on the stock, up from their prior price target of $30.00. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 35.82% from the stock’s previous close.

A number of other research firms have also commented on UPST. Needham & Company LLC reaffirmed a “hold” rating on shares of Upstart in a report on Thursday, August 8th. Citigroup raised Upstart from a “sell” rating to a “neutral” rating and raised their price target for the stock from $15.00 to $33.00 in a report on Wednesday, August 7th. Barclays raised their price target on Upstart from $25.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Mizuho raised their price target on Upstart from $33.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Finally, Piper Sandler raised Upstart from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $31.00 to $85.00 in a research note on Friday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Upstart has a consensus rating of “Hold” and a consensus price target of $45.17.

Upstart Price Performance

NASDAQ:UPST opened at $70.11 on Friday. The business has a fifty day simple moving average of $43.81 and a two-hundred day simple moving average of $32.99. Upstart has a 1 year low of $19.84 and a 1 year high of $70.49. The company has a market capitalization of $6.28 billion, a P/E ratio of -27.48 and a beta of 1.97.

Upstart (NASDAQ:UPST) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.22. Upstart had a negative return on equity of 32.01% and a negative net margin of 38.05%. The firm had revenue of $127.63 million during the quarter, compared to analyst estimates of $124.55 million. During the same period last year, the company earned ($0.34) earnings per share. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. As a group, analysts anticipate that Upstart will post -2.39 earnings per share for the current year.

Insiders Place Their Bets

In other Upstart news, CEO Dave Girouard sold 3,361 shares of Upstart stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $38.35, for a total transaction of $128,894.35. Following the completion of the sale, the chief executive officer now owns 61,512 shares of the company’s stock, valued at $2,358,985.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Upstart news, CEO Dave Girouard sold 3,361 shares of Upstart stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $38.35, for a total transaction of $128,894.35. Following the completion of the sale, the chief executive officer now owns 61,512 shares of the company’s stock, valued at $2,358,985.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Paul Gu sold 10,000 shares of Upstart stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $40.01, for a total value of $400,100.00. Following the sale, the chief technology officer now directly owns 894,629 shares of the company’s stock, valued at approximately $35,794,106.29. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 312,959 shares of company stock valued at $13,724,175 over the last 90 days. Insiders own 18.06% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of UPST. Private Advisor Group LLC increased its holdings in shares of Upstart by 13.6% in the first quarter. Private Advisor Group LLC now owns 17,936 shares of the company’s stock worth $482,000 after buying an additional 2,149 shares during the period. Quantbot Technologies LP purchased a new position in shares of Upstart in the first quarter worth about $658,000. Swiss National Bank increased its holdings in shares of Upstart by 1.6% in the first quarter. Swiss National Bank now owns 142,700 shares of the company’s stock worth $3,837,000 after buying an additional 2,200 shares during the period. TCI Wealth Advisors Inc. increased its holdings in Upstart by 18.0% during the 1st quarter. TCI Wealth Advisors Inc. now owns 39,971 shares of the company’s stock valued at $1,075,000 after purchasing an additional 6,088 shares during the period. Finally, Inspire Advisors LLC increased its holdings in Upstart by 5.8% during the 1st quarter. Inspire Advisors LLC now owns 16,143 shares of the company’s stock valued at $434,000 after purchasing an additional 890 shares during the period. Hedge funds and other institutional investors 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.