Upstart’s (UPST) “Hold” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Upstart (NASDAQ:UPST) in a research report released on Wednesday morning, Benzinga reports.

Several other research analysts have also recently commented on the stock. Piper Sandler reiterated a neutral rating and issued a $28.00 target price on shares of Upstart in a report on Tuesday, March 19th. Mizuho boosted their target price on shares of Upstart from $19.00 to $23.00 and gave the company an underperform rating in a research note on Thursday, January 18th. JMP Securities reaffirmed a market perform rating on shares of Upstart in a research report on Wednesday, April 17th. Bank of America assumed coverage on Upstart in a research report on Thursday, April 4th. They set an underperform rating and a $22.00 price target on the stock. Finally, JPMorgan Chase & Co. decreased their price objective on Upstart from $26.00 to $24.00 and set an underweight rating for the company in a research report on Wednesday, February 14th. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $26.00.

Upstart Stock Performance

NASDAQ UPST opened at $23.11 on Wednesday. The stock has a market capitalization of $2.03 billion, a P/E ratio of -7.97 and a beta of 2.01. The business’s fifty day moving average is $24.74 and its two-hundred day moving average is $29.20. Upstart has a 1 year low of $13.00 and a 1 year high of $72.58.

Upstart (NASDAQ:UPST) last announced its earnings results on Tuesday, February 13th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.05. Upstart had a negative return on equity of 35.47% and a negative net margin of 46.76%. The company had revenue of $140.31 million for the quarter, compared to analyst estimates of $135.28 million. On average, research analysts forecast that Upstart will post -2.19 earnings per share for the current year.

Insider Buying and Selling

In other Upstart news, insider Natalia Mirgorodskaya sold 1,919 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $24.30, for a total transaction of $46,631.70. Following the transaction, the insider now directly owns 28,246 shares of the company’s stock, valued at $686,377.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Natalia Mirgorodskaya sold 1,919 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $24.30, for a total value of $46,631.70. Following the completion of the sale, the insider now directly owns 28,246 shares in the company, valued at approximately $686,377.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Sanjay Datta sold 1,000 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $33.84, for a total value of $33,840.00. Following the transaction, the chief financial officer now owns 354,090 shares in the company, valued at approximately $11,982,405.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,419 shares of company stock worth $1,750,272. Insiders own 18.06% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Upstart by 1.3% in the third quarter. Vanguard Group Inc. now owns 6,856,199 shares of the company’s stock worth $195,676,000 after purchasing an additional 87,832 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Upstart by 37.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 79,250 shares of the company’s stock worth $2,262,000 after buying an additional 21,668 shares during the last quarter. Stratos Wealth Partners LTD. boosted its position in shares of Upstart by 5.5% in the fourth quarter. Stratos Wealth Partners LTD. now owns 11,805 shares of the company’s stock valued at $482,000 after acquiring an additional 619 shares during the period. Northern Trust Corp grew its stake in shares of Upstart by 1.1% in the third quarter. Northern Trust Corp now owns 718,745 shares of the company’s stock worth $20,513,000 after acquiring an additional 8,091 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in Upstart during the third quarter worth $1,529,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

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.