Upstart (NASDAQ:UPST) Lowered to Neutral at Citigroup

Upstart (NASDAQ:UPST) was downgraded by equities research analysts at Citigroup from a “buy” rating to a “neutral” rating in a report released on Monday, Price Targets.com reports. They presently have a $350.00 target price on the stock. Citigroup’s target price would suggest a potential upside of 9.11% from the company’s current price.

A number of other equities research analysts also recently commented on the stock. The Goldman Sachs Group initiated coverage on shares of Upstart in a research report on Monday, July 12th. They issued a “buy” rating and a $147.00 target price for the company. JMP Securities lifted their target price on shares of Upstart from $205.00 to $327.00 and gave the company a “market outperform” rating in a research note on Friday, September 17th. Atlantic Securities assumed coverage on shares of Upstart in a research note on Monday, September 6th. They set an “overweight” rating and a $290.00 target price on the stock. Barclays boosted their price target on shares of Upstart from $230.00 to $345.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Piper Sandler boosted their target price on shares of Upstart from $192.00 to $300.00 and gave the stock an “overweight” rating in a report on Wednesday, September 8th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $213.55.

Shares of UPST opened at $320.77 on Monday. Upstart has a fifty-two week low of $22.61 and a fifty-two week high of $329.47. The firm has a 50 day moving average price of $192.59 and a 200-day moving average price of $144.49.

Upstart (NASDAQ:UPST) last issued its earnings results on Tuesday, August 10th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.25 by $0.37. The firm had revenue of $193.95 million during the quarter, compared to analysts’ expectations of $157.75 million. The firm’s revenue for the quarter was up 1017.7% compared to the same quarter last year. Equities research analysts expect that Upstart will post 0.87 earnings per share for the current year.

In other news, General Counsel Alison Nicoll sold 22,500 shares of Upstart stock in a transaction on Wednesday, September 15th. The shares were sold at an average price of $270.88, for a total value of $6,094,800.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Dave Girouard sold 125,000 shares of Upstart stock in a transaction on Wednesday, September 1st. The shares were sold at an average price of $225.43, for a total transaction of $28,178,750.00. The disclosure for this sale can be found here. Insiders sold a total of 2,053,966 shares of company stock valued at $431,274,500 in the last quarter. 25.20% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in UPST. Renaissance Technologies LLC purchased a new position in Upstart during the second quarter worth approximately $83,433,000. Kuvari Partners LLP acquired a new position in shares of Upstart in the second quarter worth about $81,164,000. Vulcan Value Partners LLC lifted its stake in shares of Upstart by 54.7% in the second quarter. Vulcan Value Partners LLC now owns 1,521,104 shares of the company’s stock worth $189,986,000 after acquiring an additional 538,016 shares in the last quarter. Vanguard Group Inc. raised its stake in Upstart by 49.0% during the second quarter. Vanguard Group Inc. now owns 1,424,490 shares of the company’s stock valued at $177,918,000 after buying an additional 468,613 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Upstart by 101.8% during the first quarter. Ameriprise Financial Inc. now owns 776,153 shares of the company’s stock valued at $99,994,000 after buying an additional 391,627 shares in the last quarter. 49.24% of the stock is currently owned by institutional investors and hedge funds.

About Upstart

Upstart Holdings, Inc operates a cloud- based artificial intelligence (AI) lending platform. The company's platform aggregates consumer demand for loans and connects it to its network of the company's AI- enabled bank partners. Its platform connects consumers, banks, and institutional investors through a shared AI lending platform.

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Analyst Recommendations for Upstart (NASDAQ:UPST)

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