Upstart Holdings, Inc. (NASDAQ:UPST) Receives $61.80 Average Price Target from Analysts

Shares of Upstart Holdings, Inc. (NASDAQ:UPST) have been given an average recommendation of “Hold” by the eleven ratings firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $61.80.

UPST has been the subject of a number of research analyst reports. BTIG Research upgraded Upstart from a “sell” rating to a “neutral” rating in a report on Monday, November 11th. 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 research note on Friday, December 13th. Wedbush upped their target price on Upstart from $60.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Piper Sandler upgraded Upstart from a “neutral” rating to an “overweight” rating and upped their target price for the company from $31.00 to $85.00 in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. lowered Upstart from a “neutral” rating to an “underweight” rating and upped their target price for the company from $45.00 to $57.00 in a research note on Monday, December 2nd.

Insider Buying and Selling at Upstart

In other news, CEO Dave Girouard sold 41,667 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $65.15, for a total transaction of $2,714,605.05. Following the sale, the chief executive officer now owns 61,512 shares in the company, valued at approximately $4,007,506.80. This represents a 40.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Natalia Mirgorodskaya sold 1,511 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $69.85, for a total value of $105,543.35. Following the sale, the insider now owns 20,007 shares in the company, valued at $1,397,488.95. The trade was a 7.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 391,035 shares of company stock worth $26,890,777 over the last three months. Company insiders own 18.06% of the company’s stock.

Hedge Funds Weigh In On Upstart

Several hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in Upstart by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,816,774 shares of the company’s stock valued at $72,702,000 after acquiring an additional 29,482 shares during the last quarter. Fred Alger Management LLC boosted its holdings in Upstart by 153.2% in the third quarter. Fred Alger Management LLC now owns 1,246,839 shares of the company’s stock valued at $49,886,000 after acquiring an additional 754,416 shares during the last quarter. 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 acquiring an additional 282,481 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Upstart by 5.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 642,876 shares of the company’s stock valued at $25,721,000 after buying an additional 32,052 shares during the period. Finally, Two Sigma Advisers LP lifted its stake in Upstart by 689.5% in the third quarter. Two Sigma Advisers LP now owns 589,000 shares of the company’s stock valued at $23,566,000 after buying an additional 514,400 shares during the period. Institutional investors own 63.01% of the company’s stock.

Upstart Stock Performance

UPST opened at $65.01 on Friday. Upstart has a twelve month low of $20.60 and a twelve month high of $88.95. The firm has a market cap of $5.93 billion, a P/E ratio of -33.68 and a beta of 2.26. The business has a 50 day moving average price of $69.35 and a 200 day moving average price of $51.42.

Upstart (NASDAQ:UPST) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.31). Upstart had a negative return on equity of 32.57% and a negative net margin of 30.15%. The business had revenue of $162.14 million for the quarter, compared to analyst estimates of $149.94 million. During the same quarter last year, the firm earned ($0.48) earnings per share. As a group, analysts anticipate that Upstart will post -2.18 earnings per share for the current fiscal year.

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.