Upstart Holdings, Inc. (NASDAQ:UPST) Given Average Recommendation of “Reduce” by Brokerages

Shares of Upstart Holdings, Inc. (NASDAQ:UPST) have been assigned an average rating of “Reduce” from the eleven brokerages that are presently covering the firm, MarketBeat Ratings reports. Five equities research 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.

UPST has been the subject of a number of recent research reports. Piper Sandler restated a “neutral” rating and set a $28.00 price target on shares of Upstart in a research note on Tuesday, March 19th. Mizuho boosted their price target on Upstart from $19.00 to $23.00 and gave the stock an “underperform” rating in a report on Thursday, January 18th. Bank of America began coverage on Upstart in a report on Thursday, April 4th. They issued an “underperform” rating and a $22.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on Upstart from $26.00 to $24.00 and set an “underweight” rating on the stock in a report on Wednesday, February 14th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Upstart in a report on Wednesday, April 17th.

Upstart Stock Up 3.3 %

Upstart stock opened at $22.87 on Thursday. The business has a 50-day simple moving average of $24.82 and a two-hundred day simple moving average of $29.31. The company has a market cap of $2.01 billion, a P/E ratio of -7.89 and a beta of 1.94. Upstart has a 52-week low of $11.93 and a 52-week high of $72.58.

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

Insider Buying and Selling at Upstart

In other Upstart news, CFO Sanjay Datta sold 1,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $33.84, for a total value of $33,840.00. Following the transaction, the chief financial officer now owns 354,090 shares of the company’s stock, valued at approximately $11,982,405.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Sanjay Datta sold 1,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $33.84, for a total transaction of $33,840.00. Following the transaction, the chief financial officer now owns 354,090 shares of the company’s stock, valued at approximately $11,982,405.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Natalia Mirgorodskaya sold 1,919 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $24.30, for a total value of $46,631.70. Following the transaction, the insider now directly owns 28,246 shares in the company, valued at approximately $686,377.80. The disclosure for this sale can be found here. Insiders have sold 66,419 shares of company stock valued at $1,750,272 in the last quarter. 18.06% of the stock is owned by insiders.

Hedge Funds Weigh In On Upstart

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC grew its position in shares of Upstart by 56.5% during the 3rd quarter. CWM LLC now owns 1,169 shares of the company’s stock worth $33,000 after buying an additional 422 shares in the last quarter. Cassady Schiller Wealth Management LLC lifted its stake in shares of Upstart by 23.7% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 2,748 shares of the company’s stock worth $112,000 after purchasing an additional 527 shares during the last quarter. New York State Common Retirement Fund lifted its stake in shares of Upstart by 1.8% during the 3rd quarter. New York State Common Retirement Fund now owns 30,588 shares of the company’s stock worth $873,000 after purchasing an additional 535 shares during the last quarter. Compagnie Lombard Odier SCmA lifted its stake in shares of Upstart by 33.3% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 2,200 shares of the company’s stock worth $63,000 after purchasing an additional 550 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new stake in shares of Upstart during the 4th quarter worth $25,000. 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.