Upstart Holdings, Inc. (NASDAQ:UPST) Receives $43.75 Average PT from Brokerages

Upstart Holdings, Inc. (NASDAQ:UPST) has received a consensus recommendation of “Hold” from the seventeen ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $43.75.

Several equities research analysts recently weighed in on UPST shares. Piper Sandler raised their target price on shares of Upstart from $46.00 to $51.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Loop Capital assumed coverage on Upstart in a report on Tuesday, September 8th. They set a “hold” rating and a $34.00 price target on the stock. Jefferies Financial Group reiterated a “hold” rating and set a $30.00 price objective on shares of Upstart in a research note on Tuesday, June 9th. Weiss Ratings raised Upstart from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, September 14th. Finally, Citigroup cut their target price on Upstart from $80.00 to $61.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd.

Insider Buying and Selling

In other news, CEO Paul Gu acquired 50,000 shares of Upstart stock in a transaction on Thursday, September 10th. The stock was bought at an average cost of $25.55 per share, with a total value of $1,277,500.00. Following the completion of the purchase, the chief executive officer owned 130,000 shares of the company’s stock, valued at $3,321,500. This represents a 62.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Natalia Mirgorodskaya sold 913 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $30.03, for a total transaction of $27,417.39. Following the completion of the sale, the insider owned 35,875 shares of the company’s stock, valued at approximately $1,077,326.25. This trade represents a 2.48% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 148,652 shares of company stock worth $4,133,720. Company insiders own 17.29% of the company’s stock.

Institutional Trading of Upstart

Several hedge funds and other institutional investors have recently bought and sold shares of UPST. Sequoia Financial Advisors LLC acquired a new stake in shares of Upstart during the 2nd quarter valued at about $254,000. Gemmer Asset Management LLC raised its position in Upstart by 17.0% in the second quarter. Gemmer Asset Management LLC now owns 29,707 shares of the company’s stock worth $1,053,000 after purchasing an additional 4,314 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in Upstart during the second quarter worth about $248,000. Corient Private Wealth LP acquired a new stake in Upstart during the second quarter valued at approximately $2,074,000. Finally, Amundi acquired a new stake in Upstart during the second quarter valued at approximately $348,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Upstart Stock Performance

Shares of UPST stock opened at $25.00 on Thursday. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 51.02, a PEG ratio of 0.88 and a beta of 2.16. Upstart has a one year low of $23.97 and a one year high of $71.38. The company’s 50-day simple moving average is $28.63 and its 200-day simple moving average is $29.55.

Upstart (NASDAQ:UPST) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.02). The firm had revenue of $364.71 million during the quarter, compared to the consensus estimate of $354.74 million. Upstart had a net margin of 4.84% and a return on equity of 7.13%. The firm’s quarterly revenue was up 41.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 earnings per share. As a group, research analysts forecast that Upstart will post 0.72 EPS for the current year.

Upstart Company Profile

Upstart Holdings, Inc is a financial technology company that operates an artificial intelligence-powered lending marketplace. Its platform connects consumers seeking credit with banks and credit unions, using alternative data and machine-learning models alongside traditional credit information to help lending partners evaluate applicants and originate loans.

The company’s offerings include technology for personal lending, auto lending and home equity lending. Upstart provides tools that support the application, underwriting and loan-origination process, while participating financial institutions generally fund and service the loans.