BTIG Research restated their buy rating on shares of Upstart (NASDAQ:UPST – Free Report) in a research note published on Tuesday, MarketBeat reports. BTIG Research currently has a $43.00 price target on the stock.
Several other research firms also recently commented on UPST. Loop Capital began coverage on shares of Upstart in a report on Tuesday, September 8th. They issued a “hold” rating and a $34.00 price objective for the company. Needham & Company LLC boosted their target price on shares of Upstart from $40.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Wall Street Zen upgraded Upstart from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings raised Upstart from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, September 14th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $30.00 price target on shares of Upstart in a research report on Tuesday, June 9th. Eight analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $43.75.
View Our Latest Report on UPST
Upstart Stock Performance
Upstart (NASDAQ:UPST – Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The business had revenue of $364.71 million for the quarter, compared to the consensus estimate of $354.74 million. Upstart had a return on equity of 7.13% and a net margin of 4.84%.Upstart’s revenue for the quarter was up 41.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 EPS. Equities research analysts forecast that Upstart will post 0.72 EPS for the current fiscal year.
Insider Activity
In related news, CFO Andrea Blankmeyer sold 7,175 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $29.36, for a total transaction of $210,658.00. Following the completion of the transaction, the chief financial officer owned 155,208 shares of the company’s stock, valued at approximately $4,556,906.88. The trade was a 4.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Paul Gu bought 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were purchased at an average cost of $25.55 per share, for a total transaction of $1,277,500.00. Following the acquisition, the chief executive officer directly owned 130,000 shares in the company, valued at $3,321,500. This trade represents a 62.50% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 148,652 shares of company stock valued at $4,133,720 over the last ninety days. 17.29% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in UPST. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Upstart in the fourth quarter worth $48,000. Osbon Capital Management LLC purchased a new position in Upstart during the fourth quarter worth about $49,000. Clearstead Advisors LLC grew its position in Upstart by 200.0% during the fourth quarter. Clearstead Advisors LLC now owns 1,500 shares of the company’s stock worth $66,000 after buying an additional 1,000 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Upstart by 274.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,842 shares of the company’s stock worth $47,000 after acquiring an additional 1,350 shares during the last quarter. Finally, Rakuten Securities Inc. bought a new position in Upstart in the 2nd quarter worth about $67,000. 63.01% of the stock is currently owned by hedge funds and other institutional investors.
Upstart Company Profile
Upstart Holdings, Inc is a financial technology company that operates an artificial intelligence-powered lending marketplace. Its platform connects consumers seeking credit with banks and credit unions, using alternative data and machine-learning models alongside traditional credit information to help lending partners evaluate applicants and originate loans.
The company’s offerings include technology for personal lending, auto lending and home equity lending. Upstart provides tools that support the application, underwriting and loan-origination process, while participating financial institutions generally fund and service the loans.
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