Stephens Begins Coverage on Upstart (NASDAQ:UPST)

Equities research analysts at Stephens initiated coverage on shares of Upstart (NASDAQ:UPST) in a report issued on Thursday, MarketBeat Ratings reports. The firm set an “equal weight” rating and a $55.00 price target on the stock. Stephens’ price target suggests a potential upside of 5.73% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Barclays upped their price objective on shares of Upstart from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, May 12th. B. Riley upgraded Upstart from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $49.00 to $105.00 in a research report on Wednesday, February 12th. Needham & Company LLC reiterated a “buy” rating and issued a $70.00 price objective on shares of Upstart in a research report on Monday, May 19th. Piper Sandler dropped their price objective on Upstart from $105.00 to $69.00 and set an “overweight” rating for the company in a research note on Wednesday, May 7th. Finally, Citigroup lifted their target price on shares of Upstart from $87.00 to $108.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Upstart currently has an average rating of “Hold” and a consensus target price of $66.96.

Upstart Stock Performance

NASDAQ UPST opened at $52.02 on Thursday. Upstart has a one year low of $20.60 and a one year high of $96.43. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of -35.63 and a beta of 2.29. The firm has a 50 day simple moving average of $47.21 and a 200-day simple moving average of $58.17.

Upstart (NASDAQ:UPST) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.11. The business had revenue of $213.37 million during the quarter, compared to analysts’ expectations of $201.08 million. Upstart had a negative return on equity of 25.87% and a negative net margin of 20.20%. The business’s quarterly revenue was up 67.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.31) EPS. Equities analysts predict that Upstart will post -0.03 EPS for the current fiscal year.

Insider Transactions at Upstart

In other Upstart news, insider Natalia Mirgorodskaya sold 764 shares of Upstart stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $46.96, for a total transaction of $35,877.44. Following the transaction, the insider now directly owns 25,963 shares in the company, valued at approximately $1,219,222.48. The trade was a 2.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Sanjay Datta sold 13,512 shares of the business’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $46.97, for a total value of $634,658.64. Following the completion of the sale, the chief financial officer now owns 311,356 shares in the company, valued at $14,624,391.32. The trade was a 4.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 57,783 shares of company stock worth $3,257,814 in the last 90 days. 16.67% of the stock is owned by insiders.

Institutional Investors Weigh In On Upstart

Institutional investors and hedge funds have recently modified their holdings of the company. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of Upstart during the fourth quarter worth approximately $235,000. Vontobel Holding Ltd. bought a new stake in Upstart during the 4th quarter worth $234,000. Blue Trust Inc. grew its holdings in Upstart by 49.1% during the 4th quarter. Blue Trust Inc. now owns 1,475 shares of the company’s stock worth $91,000 after acquiring an additional 486 shares during the last quarter. Rhumbline Advisers boosted its position in Upstart by 3.6% during the fourth quarter. Rhumbline Advisers now owns 112,147 shares of the company’s stock valued at $6,905,000 after acquiring an additional 3,922 shares during the last quarter. Finally, Truist Financial Corp boosted its holdings in shares of Upstart by 20.3% during the 4th quarter. Truist Financial Corp now owns 27,113 shares of the company’s stock worth $1,669,000 after buying an additional 4,567 shares in the last quarter. 63.01% of the stock is owned by institutional investors.

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.