The Goldman Sachs Group Raises Upstart (NASDAQ:UPST) Price Target to $15.00

Upstart (NASDAQ:UPST) had its price target upped by investment analysts at The Goldman Sachs Group from $13.50 to $15.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “sell” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential downside of 82.77% from the stock’s current price.

A number of other equities research analysts have also recently commented on UPST. JPMorgan Chase & Co. raised shares of Upstart from an “underweight” rating to a “neutral” rating and increased their target price for the company from $57.00 to $79.00 in a research report on Wednesday. BTIG Research upgraded Upstart from a “sell” rating to a “neutral” rating in a research note on Monday, November 11th. Citigroup raised Upstart from a “neutral” rating to a “buy” rating and upped their target price for the company from $56.00 to $87.00 in a research report on Friday, November 8th. B. Riley raised Upstart from a “neutral” rating to a “buy” rating and raised their price target for the stock from $49.00 to $105.00 in a report on Wednesday. Finally, Wedbush upped their price objective on shares of Upstart from $60.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $67.08.

Upstart Stock Performance

Upstart stock traded up $19.71 during mid-day trading on Wednesday, reaching $87.05. 22,087,564 shares of the company were exchanged, compared to its average volume of 5,046,908. The firm has a market cap of $7.94 billion, a P/E ratio of -45.27 and a beta of 2.25. Upstart has a 12-month low of $20.60 and a 12-month high of $89.47. The business has a fifty day moving average of $67.49 and a 200 day moving average of $54.38.

Upstart (NASDAQ:UPST) last posted its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts predict that Upstart will post -2.18 EPS for the current year.

Insider Activity at Upstart

In other news, insider Natalia Mirgorodskaya sold 1,411 shares of Upstart stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $77.36, for a total transaction of $109,154.96. Following the completion of the transaction, the insider now directly owns 18,596 shares of the company’s stock, valued at $1,438,586.56. The trade was a 7.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dave Girouard sold 41,667 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $65.41, for a total transaction of $2,725,438.47. Following the sale, the chief executive officer now directly owns 61,512 shares in the company, valued at $4,023,499.92. This trade represents a 40.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 347,868 shares of company stock worth $24,056,862 over the last quarter. Insiders own 18.06% of the company’s stock.

Institutional Investors Weigh In On Upstart

A number of institutional investors have recently modified their holdings of UPST. Rakuten Securities Inc. purchased a new position in Upstart during the fourth quarter worth approximately $31,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Upstart in the third quarter valued at approximately $35,000. BNP Paribas acquired a new position in shares of Upstart during the 3rd quarter worth approximately $37,000. Blue Trust Inc. lifted its position in shares of 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 in the last quarter. Finally, Hollencrest Capital Management acquired a new stake in Upstart in the 3rd quarter valued at $40,000. 63.01% of the stock is currently 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.