Upstart (NASDAQ:UPST) Hits New 12-Month Low – What’s Next?

Upstart Holdings, Inc. (NASDAQ:UPST) shares reached a new 52-week low on Monday. The company traded as low as $22.10 and last traded at $22.1390, with a volume of 2,950,966 shares traded. The stock had previously closed at $23.02.

Analyst Ratings Changes

UPST has been the subject of several analyst reports. Citigroup reaffirmed a “market underperform” rating on shares of Upstart in a research note on Thursday, October 15th. Piper Sandler boosted their price objective on shares of Upstart from $46.00 to $51.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Loop Capital began coverage on Upstart in a report on Tuesday, September 8th. They issued a “hold” rating and a $34.00 price objective for the company. Wall Street Zen upgraded Upstart from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, The Goldman Sachs Group lowered their target price on Upstart from $39.00 to $28.00 and set a “neutral” rating for the company in a research report on Tuesday, October 13th. Seven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Upstart presently has a consensus rating of “Hold” and an average price target of $42.94.

Upstart Stock Down 6.6%

The business’s 50 day moving average is $25.33 and its two-hundred day moving average is $30.02. The firm has a market cap of $2.09 billion, a P/E ratio of 44.05, a P/E/G ratio of 0.81 and a beta of 2.48.

Upstart (NASDAQ:UPST) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). Upstart had a net margin of 4.84% and a return on equity of 7.13%. The firm had revenue of $364.71 million for the quarter, compared to the consensus estimate of $354.74 million. During the same period last year, the company posted $0.36 EPS. The business’s revenue was up 41.9% compared to the same quarter last year. Equities research analysts anticipate that Upstart Holdings, Inc. will post 0.72 EPS for the current year.

Insiders Place Their Bets

In other Upstart news, CFO Andrea Blankmeyer sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $29.33, for a total value of $87,990.00. Following the transaction, the chief financial officer directly owned 152,208 shares of the company’s stock, valued at approximately $4,464,260.64. The trade was a 1.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Natalia Mirgorodskaya sold 913 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $30.03, for a total transaction of $27,417.39. Following the sale, the insider directly 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. In the last three months, insiders have sold 148,652 shares of company stock valued at $4,133,720. Company insiders own 17.29% of the company’s stock.

Institutional Trading of Upstart

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Halter Ferguson Financial Inc. raised its position in shares of Upstart by 253.3% during the first quarter. Halter Ferguson Financial Inc. now owns 1,467,360 shares of the company’s stock worth $37,638,000 after purchasing an additional 1,052,039 shares during the period. Dimensional Fund Advisors LP increased its stake in Upstart by 267.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,022,780 shares of the company’s stock valued at $26,234,000 after purchasing an additional 744,190 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Upstart during the 2nd quarter valued at $9,681,000. Alberta Investment Management Corp bought a new stake in Upstart during the 2nd quarter valued at $8,461,000. Finally, Maxi Investments CY Ltd acquired a new position in Upstart during the second quarter worth $6,852,000. 63.01% of the stock is owned by institutional investors.

About Upstart

Upstart Holdings, Inc (NASDAQ: UPST) operates an artificial intelligence-powered lending marketplace. Its platform connects consumers seeking credit with banks and credit unions, using data-driven underwriting models designed to evaluate applicants beyond traditional credit-score-based methods.

The company provides technology for several lending categories, including personal loans, automotive retail and refinance lending, home equity lines of credit, and small-dollar lending. Upstart’s platform supports financial institutions with application processing, risk assessment, loan origination, and related automation, while offering consumers a digital borrowing experience.

Founded in 2012, Upstart is headquartered in San Mateo, California, and primarily serves the United States.