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

JPMorgan Chase & Co. upgraded shares of Upstart (NASDAQ:UPST) from an underweight rating to a neutral rating in a research note issued to investors on Wednesday morning, Marketbeat reports. They currently have $79.00 target price on the stock, up from their prior target price of $57.00.

A number of other equities analysts also recently weighed in on the stock. BTIG Research raised shares of Upstart from a “sell” rating to a “neutral” rating in a research note on Monday, November 11th. Redburn Atlantic raised Upstart from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $37.00 to $95.00 in a research report on Tuesday, December 3rd. Wedbush upped their target price on Upstart from $60.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Needham & Company LLC upgraded Upstart from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a report on Friday, December 13th. Finally, B. Riley upgraded shares of Upstart from a “neutral” rating to a “buy” rating and upped their price objective for the company from $49.00 to $105.00 in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $67.08.

Upstart Price Performance

Shares of UPST stock opened at $88.77 on Wednesday. Upstart has a 1-year low of $20.60 and a 1-year high of $90.44. The stock has a 50-day moving average of $67.78 and a 200-day moving average of $54.62.

Upstart (NASDAQ:UPST) last released its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share 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%. Research analysts expect that Upstart will post -2.18 earnings per share for the current year.

Insider Transactions at Upstart

In other news, Director Kerry Whorton Cooper sold 500 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $74.59, for a total value of $37,295.00. Following the completion of the sale, the director now owns 17,961 shares in the company, valued at $1,339,710.99. This represents a 2.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through 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 transaction of $2,725,438.47. Following the transaction, the chief executive officer now directly owns 61,512 shares in the company, valued at $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 a total of 347,868 shares of company stock valued at $24,056,862 over the last ninety days. 18.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Upstart

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Jones Financial Companies Lllp increased its position in shares of Upstart by 3.1% during the fourth quarter. Jones Financial Companies Lllp now owns 5,511 shares of the company’s stock valued at $339,000 after acquiring an additional 167 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Upstart by 24.2% during the 4th quarter. Farther Finance Advisors LLC now owns 882 shares of the company’s stock valued at $54,000 after purchasing an additional 172 shares during the last quarter. Bailard Inc. increased its position in shares of Upstart by 0.5% during the 4th quarter. Bailard Inc. now owns 38,759 shares of the company’s stock valued at $2,386,000 after purchasing an additional 212 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Upstart by 19.9% during the 4th quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock worth $83,000 after purchasing an additional 224 shares during the period. Finally, Orion Capital Management LLC boosted its holdings in shares of Upstart by 5.1% in the 3rd quarter. Orion Capital Management LLC now owns 5,560 shares of the company’s stock worth $222,000 after buying an additional 270 shares during the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

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.