Upstart (NASDAQ:UPST) PT Raised to $35.00 at Barclays

Upstart (NASDAQ:UPST) had its price objective boosted by Barclays from $25.00 to $35.00 in a research note issued to investors on Monday morning, Benzinga reports. Barclays currently has an equal weight rating on the stock.

UPST has been the subject of a number of other research reports. BTIG Research started coverage on shares of Upstart in a research report on Friday, June 7th. They set a sell rating and a $14.00 target price for the company. Mizuho raised shares of Upstart from an underperform rating to an outperform rating and raised their target price for the company from $17.00 to $31.00 in a research note on Wednesday, July 31st. Piper Sandler lifted their target price on shares of Upstart from $28.00 to $31.00 and gave the company a neutral rating in a report on Wednesday, August 7th. Wedbush reiterated an underperform rating and issued a $10.00 price target on shares of Upstart in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. boosted their price objective on Upstart from $24.00 to $27.00 and gave the stock an underweight rating in a research note on Wednesday, August 7th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus price target of $24.86.

Upstart Stock Up 1.4 %

NASDAQ:UPST opened at $36.59 on Monday. The company has a market cap of $3.22 billion, a P/E ratio of -17.76 and a beta of 1.97. The firm’s 50 day moving average is $26.35 and its two-hundred day moving average is $26.13. Upstart has a fifty-two week low of $19.84 and a fifty-two week high of $49.62.

Upstart (NASDAQ:UPST) last issued its earnings results on Tuesday, August 6th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.22. Upstart had a negative return on equity of 32.01% and a negative net margin of 38.05%. The business had revenue of $127.63 million for the quarter, compared to analyst estimates of $124.55 million. During the same period last year, the company posted ($0.34) EPS. The business’s quarterly revenue was down 6.0% on a year-over-year basis. Research analysts forecast that Upstart will post -2.7 earnings per share for the current fiscal year.

Insider Activity

In related news, CTO Paul Gu sold 10,000 shares of Upstart stock in a transaction on 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 $26,883,601.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Upstart news, CTO Paul Gu sold 10,000 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $30.05, for a total transaction of $300,500.00. Following the transaction, the chief technology officer now owns 894,629 shares of the company’s stock, 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 Natalia Mirgorodskaya sold 1,188 shares of Upstart stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $25.61, for a total value of $30,424.68. Following the completion of the transaction, the insider now owns 27,977 shares of the company’s stock, valued at approximately $716,490.97. The disclosure for this sale can be found here. In the last three months, insiders sold 91,610 shares of company stock worth $2,363,933. 18.06% of the stock is currently owned by insiders.

Institutional Trading of Upstart

Institutional investors and hedge funds have recently modified their holdings of the business. Raymond James & Associates acquired a new stake in Upstart during the fourth quarter worth about $854,000. Nisa Investment Advisors LLC lifted its holdings in shares of Upstart by 805.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 21,710 shares of the company’s stock worth $887,000 after purchasing an additional 19,313 shares during the last quarter. Carnegie Capital Asset Management LLC grew its stake in Upstart by 83.8% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 171,558 shares of the company’s stock worth $7,010,000 after buying an additional 78,221 shares during the last quarter. Strs Ohio acquired a new stake in Upstart in the fourth quarter worth $57,000. Finally, SVB Wealth LLC lifted its stake in Upstart by 98.9% in the fourth quarter. SVB Wealth LLC now owns 52,569 shares of the company’s stock valued at $2,148,000 after buying an additional 26,133 shares during the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.

About Upstart

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.