Upstart (NASDAQ:UPST) Stock Price Expected to Rise, Bank of America Analyst Says

Upstart (NASDAQ:UPST) had its price target boosted by equities researchers at Bank of America from $33.00 to $39.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “underperform” rating on the stock. Bank of America‘s price target suggests a potential downside of 42.08% from the company’s previous close.

UPST has been the topic of a number of other reports. BTIG Research upgraded shares of Upstart from a “sell” rating to a “neutral” rating in a research note on Monday, November 11th. Wedbush increased their price target on shares of Upstart from $60.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Citigroup raised Upstart from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $56.00 to $87.00 in a report on Friday, November 8th. B. Riley raised Upstart from a “neutral” rating to a “buy” rating and increased their target price for the stock from $49.00 to $105.00 in a report on Wednesday. Finally, Redburn Atlantic upgraded Upstart from a “neutral” rating to a “buy” rating and boosted their price target for the company from $37.00 to $95.00 in a report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Upstart currently has a consensus rating of “Hold” and an average price target of $71.82.

Upstart Price Performance

Shares of Upstart stock opened at $67.34 on Wednesday. Upstart has a 1-year low of $20.60 and a 1-year high of $88.95. The business has a 50-day moving average of $67.49 and a 200-day moving average of $54.38. The company has a market capitalization of $6.14 billion, a PE ratio of -34.89 and a beta of 2.25.

Upstart (NASDAQ:UPST) last posted its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.02. Upstart had a negative return on equity of 32.57% and a negative net margin of 30.15%. On average, equities analysts expect that Upstart will post -2.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Upstart

In other news, CTO Paul Gu sold 4,019 shares of Upstart stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $75.00, for a total transaction of $301,425.00. Following the sale, the chief technology officer now owns 863,065 shares of the company’s stock, valued at approximately $64,729,875. The trade was a 0.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Dave Girouard sold 41,667 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $62.60, for a total value of $2,608,354.20. Following the transaction, the chief executive officer now owns 57,138 shares of the company’s stock, valued at approximately $3,576,838.80. This represents a 42.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 347,868 shares of company stock worth $24,056,862. 18.06% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in UPST. Indiana Trust & Investment Management Co acquired a new position in shares of Upstart during the third quarter valued at $43,000. Summit Financial Strategies Inc. grew its position in Upstart by 13.3% in the 3rd quarter. Summit Financial Strategies Inc. now owns 10,399 shares of the company’s stock valued at $416,000 after buying an additional 1,223 shares in the last quarter. Blue Trust Inc. increased its stake in Upstart by 125.3% during the 3rd quarter. Blue Trust Inc. now owns 989 shares of the company’s stock valued at $40,000 after buying an additional 550 shares during the period. Castleview Partners LLC raised its position in shares of Upstart by 21,610.0% during the 3rd quarter. Castleview Partners LLC now owns 2,171 shares of the company’s stock worth $87,000 after buying an additional 2,161 shares in the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of Upstart in the 3rd quarter worth approximately $235,000. Institutional investors and hedge funds own 63.01% of the company’s stock.

About Upstart

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.