Bank of America Issues Positive Forecast for Upstart (NASDAQ:UPST) Stock Price

Upstart (NASDAQ:UPST) had its target price raised by Bank of America from $33.00 to $39.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has an underperform rating on the stock.

A number of other analysts have also issued reports on the stock. Wedbush raised their target price on shares of Upstart from $60.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. JPMorgan Chase & Co. upgraded Upstart from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $57.00 to $79.00 in a report on Wednesday. BTIG Research upgraded Upstart from a “sell” rating to a “neutral” rating in a research note on Monday, November 11th. Needham & Company LLC increased their target price on Upstart from $100.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, B. Riley upgraded Upstart from a “neutral” rating to a “buy” rating and lifted their price target for the company from $49.00 to $105.00 in a report on Wednesday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Upstart presently has an average rating of “Hold” and an average target price of $67.08.

Upstart Stock Performance

Shares of NASDAQ:UPST opened at $88.77 on Wednesday. Upstart has a 52-week low of $20.60 and a 52-week high of $90.44. The stock’s fifty day simple moving average is $67.78 and its 200-day simple moving average is $54.62.

Upstart (NASDAQ:UPST) last released its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. Upstart had a negative net margin of 30.15% and a negative return on equity of 32.57%. On average, equities research analysts anticipate that Upstart will post -2.18 EPS for the current fiscal year.

Insider Transactions at Upstart

In other news, CTO Paul Gu sold 87,600 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $69.39, for a total value of $6,078,564.00. Following the completion of the sale, the chief technology officer now owns 863,065 shares of the company’s stock, valued at $59,888,080.35. This represents a 9.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dave Girouard sold 41,667 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $65.41, for a total value of $2,725,438.47. Following the sale, the chief executive officer now owns 61,512 shares in the company, valued at approximately $4,023,499.92. The trade was a 40.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 347,868 shares of company stock valued at $24,056,862 over the last 90 days. Corporate insiders own 18.06% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new stake in Upstart during the 3rd quarter worth $334,000. Tyler Stone Wealth Management grew its stake in shares of Upstart by 94.1% during the third quarter. Tyler Stone Wealth Management now owns 55,534 shares of the company’s stock valued at $2,222,000 after acquiring an additional 26,917 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Upstart during the third quarter worth about $939,000. Quadrature Capital Ltd acquired a new position in shares of Upstart in the third quarter worth about $676,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Upstart by 63.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock valued at $29,031,000 after purchasing an additional 282,481 shares during the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.

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.