Upstart (NASDAQ:UPST) Rating Increased to Buy at Citigroup

Upstart (NASDAQ:UPST) was upgraded by research analysts at Citigroup from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, MarketBeat Ratings reports. The brokerage presently has a $87.00 price target on the stock, up from their prior price target of $56.00. Citigroup’s target price indicates a potential upside of 24.09% from the company’s current price.

A number of other research analysts have also recently weighed in on UPST. Mizuho lifted their price objective on shares of Upstart from $33.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Wedbush raised shares of Upstart from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $10.00 to $45.00 in a report on Monday, October 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Upstart in a report on Thursday, August 8th. Barclays lifted their price objective on shares of Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Finally, Piper Sandler raised shares of Upstart from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $31.00 to $85.00 in a report on Friday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $45.17.

Upstart Price Performance

NASDAQ UPST opened at $70.11 on Friday. The company has a market capitalization of $6.28 billion, a PE ratio of -27.48 and a beta of 1.97. The company has a fifty day moving average of $43.81 and a 200 day moving average of $32.99. Upstart has a 1 year low of $19.84 and a 1 year high of $70.49.

Upstart (NASDAQ:UPST) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.22. Upstart had a negative net margin of 38.05% and a negative return on equity of 32.01%. The company had revenue of $127.63 million during the quarter, compared to analysts’ expectations of $124.55 million. During the same quarter in the previous year, the company earned ($0.34) earnings per share. The firm’s revenue for the quarter was down 6.0% on a year-over-year basis. Research analysts expect that Upstart will post -2.39 earnings per share for the current year.

Insider Transactions at Upstart

In related news, CFO Sanjay Datta sold 1,500 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $51.70, for a total transaction of $77,550.00. Following the completion of the sale, the chief financial officer now owns 334,093 shares of the company’s stock, valued at approximately $17,272,608.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Upstart news, CFO Sanjay Datta sold 1,500 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $51.70, for a total value of $77,550.00. Following the completion of the sale, the chief financial officer now owns 334,093 shares in the company, valued at approximately $17,272,608.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott Darling sold 84,000 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $50.02, for a total transaction of $4,201,680.00. Following the completion of the sale, the insider now owns 152,043 shares of the company’s stock, valued at approximately $7,605,190.86. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 312,959 shares of company stock valued at $13,724,175 over the last 90 days. Corporate insiders own 18.06% of the company’s stock.

Institutional Trading of Upstart

A number of hedge funds have recently bought and sold shares of the business. Magnetar Financial LLC grew its stake in shares of Upstart by 1,106.7% in the 1st quarter. Magnetar Financial LLC now owns 97,281 shares of the company’s stock valued at $2,616,000 after buying an additional 89,219 shares during the period. SteelPeak Wealth LLC purchased a new stake in shares of Upstart in the 3rd quarter valued at approximately $828,000. LifePro Asset Management purchased a new stake in shares of Upstart in the 3rd quarter valued at approximately $2,008,000. EMC Capital Management grew its stake in shares of Upstart by 217.5% in the 3rd quarter. EMC Capital Management now owns 20,000 shares of the company’s stock valued at $800,000 after buying an additional 13,700 shares during the period. Finally, Baader Bank Aktiengesellschaft grew its stake in shares of Upstart by 273.8% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 41,115 shares of the company’s stock valued at $969,000 after buying an additional 30,115 shares during the period. Institutional investors and hedge funds own 63.01% of the company’s stock.

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.