Upstart Holdings, Inc. (NASDAQ:UPST) Given Average Recommendation of “Reduce” by Brokerages

Upstart Holdings, Inc. (NASDAQ:UPST) has received a consensus recommendation of “Reduce” from the eleven analysts that are covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $27.61.

A number of research analysts have commented on the stock. Wedbush restated an “underperform” rating and set a $10.00 price target on shares of Upstart in a research note on Wednesday, August 7th. Barclays boosted their price target on Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Mizuho upped their price target on Upstart from $33.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. JPMorgan Chase & Co. lifted their price objective on Upstart from $27.00 to $30.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Finally, Redburn Atlantic raised shares of Upstart from a “sell” rating to a “neutral” rating and upped their target price for the stock from $22.50 to $25.50 in a report on Tuesday, June 4th.

Insider Buying and Selling

In other Upstart news, CTO Paul Gu sold 5,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $23.52, for a total value of $117,600.00. Following the completion of the sale, the chief technology officer now owns 894,629 shares in the company, valued at approximately $21,041,674.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Upstart news, CTO Paul Gu sold 5,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $23.52, for a total value of $117,600.00. Following the transaction, the chief technology officer now directly owns 894,629 shares in the company, valued at approximately $21,041,674.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sanjay Datta sold 1,000 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $27.80, for a total value of $27,800.00. Following the sale, the chief financial officer now owns 374,398 shares of the company’s stock, valued at approximately $10,408,264.40. The disclosure for this sale can be found here. Insiders have sold a total of 161,459 shares of company stock worth $6,080,644 in the last 90 days. Corporate insiders own 18.06% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in UPST. Atomi Financial Group Inc. raised its stake in shares of Upstart by 0.7% during the second quarter. Atomi Financial Group Inc. now owns 59,009 shares of the company’s stock worth $1,392,000 after buying an additional 406 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of Upstart by 18.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 2,657 shares of the company’s stock valued at $63,000 after acquiring an additional 409 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Upstart by 4.2% during the 2nd quarter. Principal Financial Group Inc. now owns 10,405 shares of the company’s stock valued at $245,000 after acquiring an additional 422 shares during the last quarter. Inspire Advisors LLC lifted its stake in shares of Upstart by 3.0% in the 2nd quarter. Inspire Advisors LLC now owns 16,623 shares of the company’s stock valued at $392,000 after purchasing an additional 480 shares during the period. Finally, EMC Capital Management boosted its position in shares of Upstart by 16.2% in the 1st quarter. EMC Capital Management now owns 4,300 shares of the company’s stock worth $109,000 after purchasing an additional 600 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

Upstart Trading Up 3.4 %

Shares of NASDAQ:UPST opened at $40.89 on Friday. The firm has a market capitalization of $3.66 billion, a PE ratio of -19.85 and a beta of 2.03. Upstart has a 1-year low of $19.84 and a 1-year high of $49.62. The business’s 50 day moving average is $35.01 and its 200-day moving average is $28.23.

Upstart (NASDAQ:UPST) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.22. The firm had revenue of $127.63 million for the quarter, compared to analyst estimates of $124.55 million. Upstart had a negative net margin of 38.05% and a negative return on equity of 32.01%. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.34) EPS. On average, sell-side analysts predict that Upstart will post -2.39 EPS for the current year.

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.