Mizuho Boosts Upstart (NASDAQ:UPST) Price Target to $48.00

Upstart (NASDAQ:UPST) had its target price raised by Mizuho from $33.00 to $48.00 in a research note released on Friday morning, Benzinga reports. They currently have an outperform rating on the stock.

UPST has been the subject of a number of other research reports. BTIG Research assumed coverage on shares of Upstart in a research note on Friday, June 7th. They issued a sell rating and a $14.00 target price for the company. Citigroup upgraded shares of Upstart from a sell rating to a neutral rating and lifted their target price for the company from $15.00 to $33.00 in a research note on Wednesday, August 7th. Needham & Company LLC reiterated a hold rating on shares of Upstart in a research note on Thursday, August 8th. JPMorgan Chase & Co. lifted their target price on shares of Upstart from $27.00 to $30.00 and gave the company an underweight rating in a research note on Tuesday, August 20th. Finally, Piper Sandler lifted their target price on shares of Upstart from $28.00 to $31.00 and gave the company a neutral rating in a research note on Wednesday, August 7th. Four investment 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. According to data from MarketBeat, Upstart currently has a consensus rating of Hold and a consensus price target of $27.61.

Upstart Price Performance

Shares of Upstart stock opened at $39.74 on Friday. The firm has a market capitalization of $3.49 billion, a PE ratio of -19.29 and a beta of 2.03. The company’s fifty day moving average price is $34.31 and its two-hundred day moving average price is $27.89. Upstart has a 52-week low of $19.84 and a 52-week high of $49.62.

Upstart (NASDAQ:UPST) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.22. Upstart had a negative net margin of 38.05% and a negative return on equity of 32.01%. The firm had revenue of $127.63 million for the quarter, compared to analyst estimates of $124.55 million. During the same quarter in the previous year, the firm posted ($0.34) EPS. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. Analysts predict that Upstart will post -2.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Upstart news, insider Natalia Mirgorodskaya sold 1,264 shares of Upstart stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $38.36, for a total transaction of $48,487.04. Following the completion of the sale, the insider now owns 24,557 shares of the company’s stock, valued at approximately $942,006.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Upstart news, insider Natalia Mirgorodskaya sold 1,264 shares of Upstart stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $38.36, for a total transaction of $48,487.04. Following the completion of the sale, the insider now owns 24,557 shares of the company’s stock, valued at approximately $942,006.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dave Girouard sold 3,361 shares of Upstart stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $38.35, for a total transaction of $128,894.35. Following the sale, the chief executive officer now directly owns 61,512 shares of the company’s stock, valued at approximately $2,358,985.20. The disclosure for this sale can be found here. Insiders sold 159,959 shares of company stock worth $6,020,644 in the last quarter. Insiders own 18.06% of the company’s stock.

Institutional Trading of Upstart

A number of institutional investors have recently bought and sold shares of UPST. Anfield Capital Management LLC acquired a new position in shares of Upstart in the 2nd quarter valued at $33,000. BOCHK Asset Management Ltd acquired a new position in shares of Upstart in the 4th quarter valued at $61,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Upstart by 80.6% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,743 shares of the company’s stock valued at $47,000 after buying an additional 778 shares during the period. GAMMA Investing LLC grew its holdings in shares of Upstart by 259.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,204 shares of the company’s stock valued at $52,000 after buying an additional 1,590 shares during the period. Finally, Comerica Bank grew its holdings in shares of Upstart by 144.0% in the 1st quarter. Comerica Bank now owns 2,313 shares of the company’s stock valued at $62,000 after buying an additional 1,365 shares during the period. Institutional investors and hedge funds own 63.01% of the company’s stock.

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.