Piper Sandler Increases Upstart (NASDAQ:UPST) Price Target to $31.00

Upstart (NASDAQ:UPST) had its target price increased by Piper Sandler from $28.00 to $31.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. Mizuho raised shares of Upstart from an underperform rating to an outperform rating and raised their price objective for the company from $17.00 to $31.00 in a research note on Wednesday, July 31st. Citigroup upgraded Upstart from a sell rating to a neutral rating and boosted their target price for the stock from $15.00 to $33.00 in a research report on Wednesday. JMP Securities restated a market perform rating on shares of Upstart in a report on Wednesday, April 17th. BTIG Research assumed coverage on Upstart in a report on Friday, June 7th. They set a sell rating and a $14.00 price objective for the company. Finally, Wedbush reaffirmed an underperform rating and issued a $10.00 target price on shares of Upstart in a research report on Wednesday, May 8th. Five analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Upstart has a consensus rating of Hold and a consensus target price of $24.50.

Upstart Stock Up 6.0 %

Shares of NASDAQ:UPST opened at $36.25 on Wednesday. Upstart has a 12-month low of $19.84 and a 12-month high of $49.62. The firm has a fifty day moving average of $25.50 and a two-hundred day moving average of $26.00. The firm has a market capitalization of $3.19 billion, a P/E ratio of -17.60 and a beta of 1.97.

Upstart (NASDAQ:UPST) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.22. The business had revenue of $127.63 million during the quarter, compared to analysts’ expectations of $124.55 million. Upstart had a negative net margin of 38.05% and a negative return on equity of 31.57%. Upstart’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.34) earnings per share. Equities research analysts expect that Upstart will post -2.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Upstart news, insider Scott Darling sold 3,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $25.44, for a total value of $76,320.00. Following the transaction, the insider now owns 196,993 shares in the company, valued at $5,011,501.92. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Upstart news, CTO Paul Gu sold 10,000 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $30.05, for a total value of $300,500.00. Following the completion of the sale, the chief technology officer now owns 894,629 shares in the company, valued at approximately $26,883,601.45. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Scott Darling sold 3,000 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $25.44, for a total value of $76,320.00. Following the completion of the transaction, the insider now directly owns 196,993 shares in the company, valued at approximately $5,011,501.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 171,610 shares of company stock worth $4,725,533. 18.06% of the stock is currently owned by company insiders.

Institutional Trading of Upstart

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC purchased a new position in shares of Upstart in the fourth quarter worth about $25,000. Anfield Capital Management LLC purchased a new position in Upstart in the 2nd quarter valued at approximately $33,000. Benjamin F. Edwards & Company Inc. raised its holdings in Upstart by 80.6% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,743 shares of the company’s stock valued at $47,000 after acquiring an additional 778 shares during the period. Strs Ohio purchased a new stake in shares of Upstart during the fourth quarter worth $57,000. Finally, ICA Group Wealth Management LLC bought a new position in shares of Upstart in the fourth quarter worth $61,000. 63.01% of the stock is currently owned by institutional investors.

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.