Barclays Issues Pessimistic Forecast for Upstart (NASDAQ:UPST) Stock Price

Upstart (NASDAQ:UPST) had its target price decreased by analysts at Barclays from $93.00 to $42.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s target price would indicate a potential upside of 5.11% from the stock’s current price.

Several other research firms also recently weighed in on UPST. Piper Sandler reissued an “overweight” rating and issued a $105.00 target price (up previously from $85.00) on shares of Upstart in a research report on Wednesday, February 12th. Bank of America upped their price objective on Upstart from $33.00 to $39.00 and gave the company an “underperform” rating in a research note on Wednesday, February 12th. B. Riley upgraded Upstart from a “neutral” rating to a “buy” rating and boosted their price target for the company from $49.00 to $105.00 in a report on Wednesday, February 12th. Needham & Company LLC lifted their price objective on shares of Upstart from $100.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. raised shares of Upstart from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $57.00 to $79.00 in a report on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Upstart has a consensus rating of “Hold” and a consensus target price of $69.46.

Upstart Trading Up 2.5 %

NASDAQ:UPST traded up $0.97 on Monday, reaching $39.96. The stock had a trading volume of 4,729,246 shares, compared to its average volume of 6,548,363. Upstart has a 12-month low of $20.60 and a 12-month high of $96.43. The stock has a market cap of $3.74 billion, a P/E ratio of -27.37 and a beta of 2.39. The company has a 50-day moving average of $57.21 and a 200 day moving average of $60.52.

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 25.87% and a negative net margin of 20.20%. On average, equities analysts predict that Upstart will post -0.03 EPS for the current year.

Insider Activity

In related news, insider Natalia Mirgorodskaya sold 794 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $79.02, for a total transaction of $62,741.88. Following the completion of the sale, the insider now directly owns 21,985 shares of the company’s stock, valued at $1,737,254.70. This represents a 3.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dave Girouard sold 41,667 shares of Upstart stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $62.60, for a total transaction of $2,608,354.20. Following the completion of the transaction, the chief executive officer now owns 57,138 shares in the company, valued at approximately $3,576,838.80. This trade represents a 42.17 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 75,062 shares of company stock worth $5,247,182. 18.06% of the stock is owned by company insiders.

Institutional Investors Weigh In On Upstart

Institutional investors and hedge funds have recently modified their holdings of the stock. Rakuten Securities Inc. purchased a new position in Upstart in the 4th quarter worth about $31,000. Virtus Fund Advisers LLC acquired a new stake in shares of Upstart during the fourth quarter valued at approximately $32,000. Farther Finance Advisors LLC lifted its position in shares of Upstart by 24.2% in the 4th quarter. Farther Finance Advisors LLC now owns 882 shares of the company’s stock valued at $54,000 after acquiring an additional 172 shares in the last quarter. Mackenzie Financial Corp acquired a new position in Upstart in the 4th quarter worth approximately $62,000. Finally, GAMMA Investing LLC grew its position in Upstart by 19.9% during the 4th quarter. GAMMA Investing LLC now owns 1,348 shares of the company’s stock worth $83,000 after purchasing an additional 224 shares in the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.

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.