Upstart Holdings, Inc. (NASDAQ:UPST) Receives Average Rating of “Reduce” from Brokerages

Shares of Upstart Holdings, Inc. (NASDAQ:UPST) have been assigned an average rating of “Reduce” from the eleven analysts that are covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $26.00.

A number of brokerages recently commented on UPST. Piper Sandler reiterated a “neutral” rating and issued a $28.00 price objective on shares of Upstart in a research report on Tuesday, March 19th. Mizuho boosted their price target on shares of Upstart from $19.00 to $23.00 and gave the stock an “underperform” rating in a research note on Thursday, January 18th. JMP Securities reaffirmed a “market perform” rating on shares of Upstart in a research note on Wednesday, April 17th. JPMorgan Chase & Co. dropped their target price on shares of Upstart from $26.00 to $24.00 and set an “underweight” rating for the company in a research report on Wednesday, February 14th. Finally, Bank of America initiated coverage on Upstart in a research note on Thursday, April 4th. They issued an “underperform” rating and a $22.00 price target on the stock.

Upstart Price Performance

UPST opened at $23.04 on Thursday. The stock has a market capitalization of $2.02 billion, a P/E ratio of -7.94 and a beta of 1.94. The company’s 50 day simple moving average is $24.89 and its 200-day simple moving average is $29.35. Upstart has a one year low of $11.93 and a one year high of $72.58.

Upstart (NASDAQ:UPST) last announced its quarterly earnings data on Tuesday, February 13th. The company reported ($0.51) EPS for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.05. The firm had revenue of $140.31 million for the quarter, compared to analyst estimates of $135.28 million. Upstart had a negative return on equity of 35.47% and a negative net margin of 46.76%. As a group, analysts anticipate that Upstart will post -2.19 EPS for the current year.

Insider Activity at Upstart

In other Upstart news, CTO Paul Gu sold 60,000 shares of Upstart stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $26.31, for a total transaction of $1,578,600.00. Following the transaction, the chief technology officer now directly owns 893,596 shares in the company, valued at $23,510,510.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CTO Paul Gu sold 60,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $26.31, for a total transaction of $1,578,600.00. Following the completion of the sale, the chief technology officer now directly owns 893,596 shares of the company’s stock, valued at approximately $23,510,510.76. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Sanjay Datta sold 1,000 shares of Upstart stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $27.50, for a total transaction of $27,500.00. Following the completion of the transaction, the chief financial officer now directly owns 400,536 shares in the company, valued at approximately $11,014,740. The disclosure for this sale can be found here. Insiders sold a total of 66,419 shares of company stock worth $1,750,272 in the last quarter. Corporate insiders own 18.06% of the company’s stock.

Hedge Funds Weigh In On Upstart

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Upstart by 1.3% in the third quarter. Vanguard Group Inc. now owns 6,856,199 shares of the company’s stock valued at $195,676,000 after purchasing an additional 87,832 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Upstart by 37.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 79,250 shares of the company’s stock worth $2,262,000 after acquiring an additional 21,668 shares during the last quarter. Stratos Wealth Partners LTD. grew its stake in shares of Upstart by 5.5% during the 4th quarter. Stratos Wealth Partners LTD. now owns 11,805 shares of the company’s stock worth $482,000 after acquiring an additional 619 shares in the last quarter. Northern Trust Corp grew its stake in shares of Upstart by 1.1% during the 3rd quarter. Northern Trust Corp now owns 718,745 shares of the company’s stock worth $20,513,000 after acquiring an additional 8,091 shares in the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of Upstart in the third quarter worth $1,529,000. 63.01% of the stock is owned by institutional investors and hedge funds.

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.