Upstart (NASDAQ:UPST) Rating Increased to Neutral at Bank of America

Upstart (NASDAQ:UPST) was upgraded by Bank of America from an “underperform” rating to a “neutral” rating in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. The firm presently has a $53.00 price objective on the stock. Bank of America‘s price target would indicate a potential upside of 10.19% from the company’s previous close.

A number of other brokerages also recently issued reports on UPST. Piper Sandler reiterated an “overweight” rating and issued a $105.00 price target (up previously from $85.00) on shares of Upstart in a research note on Wednesday, February 12th. B. Riley upgraded shares of Upstart from a “neutral” rating to a “buy” rating and raised their price objective for the company from $49.00 to $105.00 in a research report on Wednesday, February 12th. Needham & Company LLC lifted their price target on shares of Upstart from $100.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Barclays dropped their price objective on shares of Upstart from $93.00 to $42.00 and set an “equal weight” rating for the company in a research note on Monday, April 14th. Finally, Morgan Stanley raised shares of Upstart from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $12.00 to $70.00 in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $70.54.

Upstart Trading Down 1.2 %

Shares of UPST opened at $48.10 on Tuesday. Upstart has a 12 month low of $20.60 and a 12 month high of $96.43. The stock’s 50 day moving average is $49.73 and its two-hundred day moving average is $60.63. The firm has a market cap of $4.57 billion, a P/E ratio of -32.94 and a beta of 2.39.

Upstart (NASDAQ:UPST) last issued its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.02. Upstart had a negative return on equity of 25.87% and a negative net margin of 20.20%. Equities research analysts forecast that Upstart will post -0.03 EPS for the current year.

Insider Activity

In related news, CTO Paul Gu sold 12,007 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $79.02, for a total value of $948,793.14. Following the sale, the chief technology officer now directly owns 1,006,599 shares of the company’s stock, valued at approximately $79,541,452.98. The trade was a 1.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Dave Girouard sold 4,524 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $79.01, for a total transaction of $357,441.24. Following the completion of the sale, the chief executive officer now directly owns 52,614 shares in the company, valued at $4,157,032.14. This represents a 7.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,395 shares of company stock worth $2,638,828. Corporate insiders own 16.67% of the company’s stock.

Institutional Investors Weigh In On Upstart

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UPST. Jones Financial Companies Lllp increased its stake in shares of Upstart by 3.1% during the 4th quarter. Jones Financial Companies Lllp now owns 5,511 shares of the company’s stock worth $339,000 after purchasing an additional 167 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Upstart by 24.2% during the 4th quarter. Farther Finance Advisors LLC now owns 882 shares of the company’s stock worth $54,000 after purchasing an additional 172 shares during the last quarter. Bailard Inc. increased its stake in Upstart by 0.5% during the 4th quarter. Bailard Inc. now owns 38,759 shares of the company’s stock worth $2,386,000 after acquiring an additional 212 shares during the period. GAMMA Investing LLC increased its stake in Upstart by 19.9% during the 4th quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock worth $83,000 after acquiring an additional 224 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its stake in Upstart by 1.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 24,352 shares of the company’s stock worth $1,121,000 after acquiring an additional 322 shares during the period. 63.01% of the stock is currently owned by institutional investors and hedge funds.

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.