Upstart (NASDAQ:UPST) Upgraded at Piper Sandler

Piper Sandler upgraded shares of Upstart (NASDAQ:UPST) to an overweight rating in a research report report published on Tuesday, Marketbeat Ratings reports. They currently have $75.00 target price on the stock.

UPST has been the subject of several other reports. Stephens assumed coverage on Upstart in a report on Thursday, June 12th. They set an “equal weight” rating and a $55.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price objective on shares of Upstart in a research note on Monday, May 19th. Barclays lifted their target price on shares of Upstart from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, May 12th. Morgan Stanley reduced their price target on shares of Upstart from $70.00 to $50.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 7th. Finally, Bank of America upgraded shares of Upstart from an “underperform” rating to a “neutral” rating and set a $53.00 price objective on the stock in a research report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Upstart has a consensus rating of “Hold” and an average target price of $67.42.

Upstart Trading Up 1.5%

Shares of NASDAQ UPST opened at $63.35 on Tuesday. Upstart has a twelve month low of $20.60 and a twelve month high of $96.43. The firm has a 50-day moving average of $50.69 and a two-hundred day moving average of $57.18. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of -84.47 and a beta of 2.29.

Upstart (NASDAQ:UPST) last released its earnings results on Tuesday, May 6th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.19 by $0.11. The business had revenue of $213.37 million during the quarter, compared to analyst estimates of $201.08 million. Upstart had a negative net margin of 9.20% and a negative return on equity of 15.27%. The business’s quarterly revenue was up 67.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.31) earnings per share. As a group, research analysts predict that Upstart will post -0.03 earnings per share for the current year.

Insider Buying and Selling at Upstart

In other news, insider Natalia Mirgorodskaya sold 764 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $46.96, for a total transaction of $35,877.44. Following the completion of the sale, the insider now directly owns 25,963 shares of the company’s stock, valued at $1,219,222.48. This trade represents a 2.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sanjay Datta sold 13,512 shares of the business’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $46.97, for a total value of $634,658.64. Following the completion of the sale, the chief financial officer now directly owns 311,356 shares of the company’s stock, valued at approximately $14,624,391.32. The trade was a 4.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold 99,450 shares of company stock valued at $5,759,917 in the last quarter. Company insiders own 16.67% of the company’s stock.

Institutional Trading of Upstart

Several large investors have recently added to or reduced their stakes in UPST. Two Sigma Advisers LP raised its holdings in shares of Upstart by 190.2% during the 4th quarter. Two Sigma Advisers LP now owns 1,709,300 shares of the company’s stock valued at $105,242,000 after purchasing an additional 1,120,300 shares in the last quarter. Marshall Wace LLP increased its position in Upstart by 300.2% during the fourth quarter. Marshall Wace LLP now owns 1,061,512 shares of the company’s stock worth $65,357,000 after buying an additional 796,252 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in Upstart during the fourth quarter valued at about $43,697,000. Fred Alger Management LLC raised its stake in shares of Upstart by 53.6% in the 4th quarter. Fred Alger Management LLC now owns 1,915,121 shares of the company’s stock valued at $117,914,000 after acquiring an additional 668,282 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Upstart by 886.0% in the fourth quarter. Invesco Ltd. now owns 709,684 shares of the company’s stock valued at $43,695,000 after purchasing an additional 637,706 shares during the period. 63.01% of the stock is owned by institutional investors.

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.