Upstart (NASDAQ:UPST) Stock Rating Reaffirmed by Needham & Company LLC

Upstart (NASDAQ:UPST)‘s stock had its “hold” rating reaffirmed by investment analysts at Needham & Company LLC in a research note issued on Wednesday, Benzinga reports.

UPST has been the topic of several other research reports. Bank of America started coverage on Upstart in a research note on Thursday, April 4th. They set an “underperform” rating and a $22.00 price objective on the stock. JMP Securities reiterated a “market perform” rating on shares of Upstart in a research report on Wednesday, April 17th. Mizuho raised their target price on shares of Upstart from $19.00 to $23.00 and gave the stock an “underperform” rating in a report on Thursday, January 18th. JPMorgan Chase & Co. reduced their price target on shares of Upstart from $26.00 to $24.00 and set an “underweight” rating for the company in a report on Wednesday, February 14th. Finally, Piper Sandler restated a “neutral” rating and set a $28.00 price objective on shares of Upstart in a report on Tuesday, March 19th. Five analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $26.00.

Upstart Trading Down 5.0 %

Upstart stock opened at $24.47 on Wednesday. The firm has a market capitalization of $2.15 billion, a P/E ratio of -8.44 and a beta of 2.01. The business has a 50-day moving average of $24.77 and a 200-day moving average of $29.20. Upstart has a 1 year low of $12.94 and a 1 year high of $72.58.

Upstart (NASDAQ:UPST) last issued its quarterly earnings data on Tuesday, February 13th. The company reported ($0.51) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.05. The firm had revenue of $140.31 million during the quarter, compared to analysts’ expectations of $135.28 million. Upstart had a negative net margin of 46.76% and a negative return on equity of 35.47%. Research analysts anticipate that Upstart will post -2.19 EPS for the current fiscal year.

Insider Buying and Selling at Upstart

In other news, insider Natalia Mirgorodskaya sold 1,919 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $24.30, for a total transaction of $46,631.70. Following the transaction, the insider now directly owns 28,246 shares in the company, valued at approximately $686,377.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Upstart news, insider Natalia Mirgorodskaya sold 1,919 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $24.30, for a total value of $46,631.70. Following the completion of the sale, the insider now owns 28,246 shares of the company’s stock, valued at approximately $686,377.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sanjay Datta sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $33.84, for a total transaction of $33,840.00. Following the transaction, the chief financial officer now directly owns 354,090 shares in the company, valued at $11,982,405.60. The disclosure for this sale can be found here. Insiders sold a total of 66,419 shares of company stock worth $1,750,272 over the last quarter. 18.06% of the stock is currently owned by insiders.

Institutional Trading of Upstart

Several large investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. grew its stake in Upstart by 7.1% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 26,074 shares of the company’s stock worth $744,000 after buying an additional 1,730 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Upstart by 62.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 79,935 shares of the company’s stock worth $2,281,000 after acquiring an additional 30,708 shares during the period. Stratos Wealth Partners LTD. boosted its position in shares of Upstart by 26.4% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 11,186 shares of the company’s stock worth $319,000 after acquiring an additional 2,337 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Upstart by 0.3% in the third quarter. Bank of New York Mellon Corp now owns 248,090 shares of the company’s stock valued at $7,080,000 after acquiring an additional 763 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Upstart by 14.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,356 shares of the company’s stock valued at $381,000 after purchasing an additional 1,668 shares in the last quarter. 63.01% of the stock is owned by institutional investors and hedge funds.

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.