Stephens Downgrades Upstart (NASDAQ:UPST) to Underweight

Stephens lowered shares of Upstart (NASDAQ:UPSTGet Rating) from an equal weight rating to an underweight rating in a research report report published on Tuesday morning, Marketbeat reports. The brokerage currently has $28.00 price objective on the stock, down from their previous price objective of $124.00.

A number of other research analysts have also recently commented on UPST. Bank of America upgraded shares of Upstart from an underperform rating to a buy rating and set a $255.00 price target on the stock in a report on Thursday, February 17th. FBN Securities assumed coverage on shares of Upstart in a report on Tuesday, April 12th. They issued an outperform rating and a $150.00 price target on the stock. Citigroup cut shares of Upstart from a buy rating to a neutral rating and cut their price target for the stock from $180.00 to $50.00 in a report on Tuesday. Piper Sandler cut shares of Upstart from an overweight rating to a neutral rating and dropped their target price for the stock from $230.00 to $44.00 in a report on Tuesday. Finally, Barclays dropped their target price on shares of Upstart from $285.00 to $180.00 in a report on Thursday, February 17th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and an average target price of $114.00.

Shares of UPST opened at $38.13 on Tuesday. Upstart has a twelve month low of $25.43 and a twelve month high of $401.49. The company has a market cap of $3.23 billion, a P/E ratio of 23.25 and a beta of 1.14. The company’s fifty day simple moving average is $92.15 and its 200-day simple moving average is $140.66.

Upstart (NASDAQ:UPSTGet Rating) last posted its quarterly earnings results on Monday, May 9th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.08. The firm had revenue of $310.14 million for the quarter, compared to analysts’ expectations of $300.13 million. Upstart had a net margin of 15.23% and a return on equity of 21.15%. The business’s revenue for the quarter was up 155.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.12 earnings per share. As a group, sell-side analysts forecast that Upstart will post 1.02 EPS for the current year.

In other news, General Counsel Alison Nicoll sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $146.64, for a total value of $1,099,800.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Dave Girouard sold 83,333 shares of the stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $108.39, for a total transaction of $9,032,463.87. Following the completion of the transaction, the chief executive officer now directly owns 87,114 shares of the company’s stock, valued at $9,442,286.46. The disclosure for this sale can be found here. Insiders sold a total of 207,708 shares of company stock worth $21,254,868 over the last 90 days. Company insiders own 18.87% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Moors & Cabot Inc. purchased a new position in shares of Upstart in the 3rd quarter valued at approximately $25,000. Outfitter Financial LLC purchased a new position in shares of Upstart in the 4th quarter valued at approximately $25,000. SJS Investment Consulting Inc. purchased a new position in shares of Upstart in the 1st quarter valued at approximately $25,000. Tyler Stone Wealth Management purchased a new position in shares of Upstart in the 4th quarter valued at approximately $26,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Upstart in the 4th quarter valued at approximately $26,000. 59.65% of the stock is owned by hedge funds and other institutional investors.

About Upstart (Get Rating)

Upstart Holdings, Inc operates a cloud- based artificial intelligence (AI) lending platform in the United States. The company's platform aggregates consumer demand for loans and connects it to its network of the company's AI- enabled bank partners. Its platform connects consumers, banks, and institutional investors through a shared AI lending platform.

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