Upstart (NASDAQ:UPST) Downgraded by Citigroup to “Neutral”

Citigroup lowered shares of Upstart (NASDAQ:UPSTGet Rating) from a buy rating to a neutral rating in a research report released on Tuesday morning, Marketbeat reports. They currently have $50.00 price objective on the stock, down from their prior price objective of $180.00.

UPST has been the subject of a number of other reports. Morgan Stanley lowered their price target on Upstart from $115.00 to $88.00 in a report on Wednesday, May 4th. Wedbush downgraded Upstart from a neutral rating to an underperform rating and lowered their price target for the company from $110.00 to $75.00 in a report on Tuesday, March 22nd. Loop Capital started coverage on Upstart in a report on Tuesday, April 5th. They issued a buy rating and a $140.00 price target for the company. JMP Securities lowered their price target on Upstart from $315.00 to $245.00 and set a market outperform rating for the company in a report on Wednesday, February 16th. Finally, Barclays lowered their price target on Upstart from $285.00 to $180.00 in a report on Thursday, February 17th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Upstart presently has a consensus rating of Hold and a consensus target price of $114.00.

Shares of Upstart stock opened at $38.13 on Tuesday. Upstart has a one year low of $25.43 and a one year high of $401.49. The company has a market cap of $3.23 billion, a PE ratio of 23.25 and a beta of 1.14. The business has a 50-day simple moving average of $92.15 and a 200-day simple moving average of $140.66.

Upstart (NASDAQ:UPSTGet Rating) last announced its quarterly earnings data on Monday, May 9th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.08. Upstart had a return on equity of 21.15% and a net margin of 15.23%. The business had revenue of $310.14 million during the quarter, compared to the consensus estimate of $300.13 million. During the same period in the previous year, the company posted $0.12 earnings per share. The business’s revenue for the quarter was up 155.6% on a year-over-year basis. On average, analysts forecast that Upstart will post 1.02 EPS for the current year.

In related news, General Counsel Alison Nicoll sold 7,500 shares of Upstart stock in a transaction on Wednesday, March 2nd. The shares were sold at an average price of $146.64, for a total value of $1,099,800.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Dave Girouard sold 41,667 shares of the business’s stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $80.00, for a total transaction of $3,333,360.00. Following the sale, the chief executive officer now owns 87,114 shares in the company, valued at $6,969,120. The disclosure for this sale can be found here. Over the last quarter, insiders sold 207,708 shares of company stock worth $21,254,868. 18.87% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of UPST. Moors & Cabot Inc. purchased a new stake in shares of Upstart during the 3rd quarter worth $25,000. Outfitter Financial LLC acquired a new position in shares of Upstart during the 4th quarter worth $25,000. SJS Investment Consulting Inc. acquired a new position in shares of Upstart during the 1st quarter worth $25,000. Tyler Stone Wealth Management acquired a new position in shares of Upstart during the 4th quarter worth $26,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Upstart during the 4th quarter worth $26,000. Institutional investors own 59.65% of the company’s stock.

Upstart Company Profile (Get Rating)

Upstart Holdings, Inc operates a cloud- based artificial intelligence (AI) lending platform in the United States. 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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