Upstart (NASDAQ:UPST) Stock Rating Upgraded by JPMorgan Chase & Co.

Upstart (NASDAQ:UPST) was upgraded by equities research analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research note issued on Friday,Briefing.com Automated Import reports. The brokerage presently has a $45.00 target price on the stock, up from their previous target price of $30.00. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 35.82% from the company’s previous close.

A number of other brokerages also recently weighed in on UPST. Mizuho increased their price target on Upstart from $33.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Piper Sandler upgraded Upstart from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $31.00 to $85.00 in a report on Friday. Wedbush upgraded Upstart from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $10.00 to $45.00 in a report on Monday, October 14th. Citigroup upgraded Upstart from a “sell” rating to a “neutral” rating and increased their price target for the stock from $15.00 to $33.00 in a report on Wednesday, August 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Upstart in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Upstart presently has a consensus rating of “Hold” and an average target price of $45.17.

Upstart Stock Up 26.4 %

Shares of NASDAQ:UPST opened at $70.11 on Friday. The firm has a market cap of $6.28 billion, a P/E ratio of -27.48 and a beta of 1.97. Upstart has a 12-month low of $19.84 and a 12-month high of $70.49. The business has a fifty day simple moving average of $43.81 and a 200 day simple moving average of $32.99.

Upstart (NASDAQ:UPST) last announced its earnings results on Tuesday, August 6th. The company reported ($0.17) earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $124.55 million. During the same period last year, the company earned ($0.34) EPS. Upstart’s revenue for the quarter was down 6.0% compared to the same quarter last year. As a group, equities research analysts expect that Upstart will post -2.39 EPS for the current year.

Insiders Place Their Bets

In other Upstart news, CTO Paul Gu sold 10,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $40.01, for a total value of $400,100.00. Following the transaction, the chief technology officer now owns 894,629 shares in the company, valued at approximately $35,794,106.29. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Sanjay Datta sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $37.00, for a total value of $55,500.00. Following the transaction, the chief financial officer now owns 368,398 shares in the company, valued at $13,630,726. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Paul Gu sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $40.01, for a total value of $400,100.00. Following the completion of the transaction, the chief technology officer now owns 894,629 shares in the company, valued at $35,794,106.29. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 312,959 shares of company stock worth $13,724,175. Corporate insiders own 18.06% of the company’s stock.

Institutional Trading of Upstart

Institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. increased its position in shares of Upstart by 125.3% during the third quarter. Blue Trust Inc. now owns 989 shares of the company’s stock valued at $40,000 after acquiring an additional 550 shares during the last quarter. Hollencrest Capital Management purchased a new stake in shares of Upstart during the third quarter valued at approximately $40,000. Indiana Trust & Investment Management Co purchased a new stake in shares of Upstart during the third quarter valued at approximately $43,000. Anfield Capital Management LLC purchased a new stake in shares of Upstart during the second quarter valued at approximately $33,000. Finally, Quest Partners LLC increased its position in shares of Upstart by 1,424.8% during the third quarter. Quest Partners LLC now owns 1,723 shares of the company’s stock valued at $69,000 after acquiring an additional 1,610 shares during the last quarter. 63.01% of the stock is owned by hedge funds and other institutional investors.

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.