Piper Sandler Boosts Upstart (NASDAQ:UPST) Price Target to $31.00

Upstart (NASDAQ:UPST) had its target price upped by investment analysts at Piper Sandler from $28.00 to $31.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price target would indicate a potential downside of 9.38% from the company’s current price.

Several other brokerages have also weighed in on UPST. JMP Securities reaffirmed a “market perform” rating on shares of Upstart in a research report on Wednesday, April 17th. Mizuho upgraded shares of Upstart from an “underperform” rating to an “outperform” rating and boosted their price objective for the stock from $17.00 to $31.00 in a research note on Wednesday, July 31st. Redburn Atlantic raised Upstart from a “sell” rating to a “neutral” rating and raised their target price for the company from $22.50 to $25.50 in a report on Tuesday, June 4th. BTIG Research assumed coverage on Upstart in a research report on Friday, June 7th. They set a “sell” rating and a $14.00 target price on the stock. Finally, Citigroup upgraded Upstart from a “sell” rating to a “neutral” rating and upped their price objective for the company from $15.00 to $33.00 in a research note on Wednesday. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Upstart has a consensus rating of “Hold” and an average target price of $24.50.

Upstart Trading Up 2.7 %

Shares of UPST stock opened at $34.21 on Wednesday. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of -16.61 and a beta of 1.97. Upstart has a 1-year low of $19.84 and a 1-year high of $49.62. The stock’s fifty day simple moving average is $25.26 and its 200-day simple moving average is $26.06.

Upstart (NASDAQ:UPST) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.22. Upstart had a negative net margin of 38.05% and a negative return on equity of 31.57%. The firm had revenue of $127.63 million for the quarter, compared to the consensus estimate of $124.55 million. The firm’s revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.34) earnings per share. On average, sell-side analysts predict that Upstart will post -2.7 EPS for the current year.

Insiders Place Their Bets

In other Upstart news, CTO Paul Gu sold 5,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $23.52, for a total value of $117,600.00. Following the completion of the transaction, the chief technology officer now directly owns 894,629 shares of the company’s stock, valued at $21,041,674.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Upstart news, CTO Paul Gu sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $23.52, for a total transaction of $117,600.00. Following the completion of the transaction, the chief technology officer now owns 894,629 shares of the company’s stock, valued at approximately $21,041,674.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Sanjay Datta sold 1,000 shares of Upstart stock in a transaction dated 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 directly owns 372,398 shares in the company, valued at approximately $9,797,791.38. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 171,610 shares of company stock worth $4,725,533. Insiders own 18.06% of the company’s stock.

Institutional Trading of Upstart

A number of hedge funds have recently modified their holdings of UPST. GAMMA Investing LLC bought a new position in shares of Upstart during the fourth quarter worth approximately $25,000. Strs Ohio acquired a new stake in Upstart in the fourth quarter valued at approximately $57,000. Anfield Capital Management LLC acquired a new position in shares of Upstart in the second quarter valued at approximately $33,000. ICA Group Wealth Management LLC acquired a new position in Upstart in the 4th quarter valued at approximately $61,000. Finally, BOCHK Asset Management Ltd bought a new position in Upstart during the 4th quarter worth $61,000. Institutional investors and hedge funds 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.