Upstart’s (UPST) “Market Perform” Rating Reiterated at JMP Securities

JMP Securities reissued their market perform rating on shares of Upstart (NASDAQ:UPST) in a research report sent to investors on Wednesday, Benzinga reports.

UPST has been the topic of several other reports. Mizuho raised their target price on shares of Upstart from $19.00 to $23.00 and gave the stock an underperform rating in a report on Thursday, January 18th. JPMorgan Chase & Co. decreased their price objective on shares of Upstart from $26.00 to $24.00 and set an underweight rating on the stock in a research note on Wednesday, February 14th. Bank of America began coverage on shares of Upstart in a research note on Thursday, April 4th. They issued an underperform rating and a $22.00 price objective on the stock. Finally, Piper Sandler reissued a neutral rating and issued a $28.00 price objective on shares of Upstart in a research note on Tuesday, March 19th. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Upstart presently has a consensus rating of Hold and a consensus target price of $26.00.

Upstart Stock Performance

Shares of NASDAQ:UPST opened at $21.87 on Wednesday. Upstart has a 52-week low of $11.93 and a 52-week high of $72.58. The company has a market capitalization of $1.92 billion, a P/E ratio of -7.54 and a beta of 1.94. The company has a 50-day simple moving average of $25.62 and a 200 day simple moving average of $29.53.

Upstart (NASDAQ:UPST) last released its quarterly earnings results on Tuesday, February 13th. The company reported ($0.51) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.05. The firm had revenue of $140.31 million for the quarter, compared to analysts’ expectations of $135.28 million. Upstart had a negative net margin of 46.76% and a negative return on equity of 35.47%. As a group, equities analysts forecast that Upstart will post -2.19 earnings per share for the current year.

Insider Buying and Selling at Upstart

In other Upstart news, CFO Sanjay Datta sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $33.71, for a total value of $33,710.00. Following the sale, the chief financial officer now owns 357,090 shares in the company, valued at $12,037,503.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Natalia Mirgorodskaya sold 1,919 shares of Upstart 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 owns 28,246 shares in the company, valued at $686,377.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Sanjay Datta sold 1,000 shares of Upstart stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $33.71, for a total transaction of $33,710.00. Following the transaction, the chief financial officer now owns 357,090 shares in the company, valued at approximately $12,037,503.90. The disclosure for this sale can be found here. Insiders have sold 69,777 shares of company stock worth $1,864,629 over the last quarter. Corporate insiders own 18.06% of the company’s stock.

Hedge Funds Weigh In On Upstart

A number of hedge funds have recently modified their holdings of UPST. Norges Bank acquired a new position in shares of Upstart during the fourth quarter worth $11,225,000. Vanguard Group Inc. lifted its holdings in shares of Upstart by 16.9% during the first quarter. Vanguard Group Inc. now owns 5,822,210 shares of the company’s stock worth $635,145,000 after purchasing an additional 840,668 shares during the period. Morgan Stanley lifted its holdings in Upstart by 65.6% in the third quarter. Morgan Stanley now owns 1,914,933 shares of the company’s stock valued at $54,652,000 after buying an additional 758,669 shares during the period. Northern Trust Corp lifted its holdings in Upstart by 141.6% in the second quarter. Northern Trust Corp now owns 710,654 shares of the company’s stock valued at $25,449,000 after buying an additional 416,513 shares during the period. Finally, Pathstone Family Office LLC acquired a new position in Upstart in the third quarter valued at $11,332,000. 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.