Upstart (NASDAQ:UPST) Raised to Outperform at Mizuho

Mizuho upgraded shares of Upstart (NASDAQ:UPST) from an underperform rating to an outperform rating in a report released on Wednesday morning, MarketBeat.com reports. They currently have $31.00 target price on the stock, up from their previous target price of $17.00.

Several other brokerages have also issued reports on UPST. BTIG Research started coverage on Upstart in a research report on Friday, June 7th. They issued a sell rating and a $14.00 price objective for the company. Wedbush reiterated an underperform rating and issued a $10.00 price target on shares of Upstart in a report on Wednesday, May 8th. Needham & Company LLC restated a hold rating on shares of Upstart in a report on Wednesday, May 8th. Bank of America started coverage on shares of Upstart in a research note on Thursday, April 4th. They issued an underperform rating and a $22.00 target price for the company. Finally, Redburn Atlantic raised Upstart from a sell rating to a neutral rating and lifted their price target for the company from $22.50 to $25.50 in a research note on Tuesday, June 4th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Upstart currently has a consensus rating of Hold and an average price target of $23.05.

Upstart Trading Down 6.5 %

UPST opened at $23.76 on Wednesday. Upstart has a twelve month low of $19.84 and a twelve month high of $71.08. The firm’s fifty day moving average is $24.85 and its two-hundred day moving average is $26.13.

Upstart (NASDAQ:UPST) last posted its earnings results on Tuesday, May 7th. The company reported ($0.74) earnings per share for the quarter, topping the consensus estimate of ($0.80) by $0.06. Upstart had a negative return on equity of 27.89% and a negative net margin of 32.59%. The firm had revenue of $127.79 million for the quarter, compared to analyst estimates of $124.82 million. As a group, equities analysts expect that Upstart will post -2.7 earnings per share for the current year.

Insider Transactions at Upstart

In related news, insider Natalia Mirgorodskaya sold 1,188 shares of Upstart stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $25.61, for a total value of $30,424.68. Following the sale, the insider now owns 27,977 shares of the company’s stock, valued at $716,490.97. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Upstart news, CFO Sanjay Datta sold 1,000 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $26.31, for a total value of $26,310.00. Following the completion of the sale, the chief financial officer now owns 372,398 shares in the company, valued at $9,797,791.38. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Natalia Mirgorodskaya sold 1,188 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $25.61, for a total transaction of $30,424.68. Following the transaction, the insider now owns 27,977 shares in the company, valued at $716,490.97. The disclosure for this sale can be found here. Insiders sold a total of 170,610 shares of company stock worth $4,704,553 in the last three months. Insiders own 18.06% of the company’s stock.

Hedge Funds Weigh In On Upstart

Hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James & Associates bought a new position in shares of Upstart during the 4th quarter worth approximately $854,000. Raymond James Financial Services Advisors Inc. lifted its holdings in Upstart by 8.9% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 87,080 shares of the company’s stock valued at $3,558,000 after purchasing an additional 7,145 shares during the last quarter. AdvisorNet Financial Inc boosted its position in Upstart by 24.0% during the fourth quarter. AdvisorNet Financial Inc now owns 5,165 shares of the company’s stock worth $211,000 after purchasing an additional 1,000 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Upstart by 3,532.7% in the fourth quarter. International Assets Investment Management LLC now owns 329,740 shares of the company’s stock valued at $13,473,000 after purchasing an additional 320,663 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC raised its position in shares of Upstart by 23.4% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 10,755 shares of the company’s stock valued at $439,000 after purchasing an additional 2,038 shares during the period. 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.