Upstart Holdings, Inc. (NASDAQ:UPST) Receives Average Recommendation of “Reduce” from Analysts

Upstart Holdings, Inc. (NASDAQ:UPST) has earned an average rating of “Reduce” from the twelve research firms that are covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $26.75.

Several equities analysts have weighed in on the stock. BTIG Research started coverage on shares of Upstart in a report on Friday, June 7th. They issued a “sell” rating and a $14.00 target price on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Upstart in a research report on Thursday, August 8th. Piper Sandler lifted their target price on Upstart from $28.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Mizuho upgraded Upstart from an “underperform” rating to an “outperform” rating and increased their price target for the stock from $17.00 to $31.00 in a report on Wednesday, July 31st. Finally, Barclays boosted their price objective on shares of Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a report on Monday, August 12th.

Upstart Price Performance

Shares of Upstart stock opened at $44.11 on Wednesday. Upstart has a 1-year low of $19.84 and a 1-year high of $49.62. The stock has a market cap of $3.88 billion, a P/E ratio of -21.41 and a beta of 1.97. The stock’s 50 day simple moving average is $29.10 and its 200-day simple moving average is $26.45.

Upstart (NASDAQ:UPST) last issued its earnings results on Tuesday, August 6th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating 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 company had revenue of $127.63 million during the quarter, compared to analysts’ expectations of $124.55 million. During the same period in the prior year, the business earned ($0.34) EPS. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. As a group, research analysts expect that Upstart will post -2.39 EPS for the current fiscal year.

Insider Buying and Selling at Upstart

In related news, insider Scott Darling sold 3,000 shares of Upstart stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $25.44, for a total value of $76,320.00. Following the completion of the transaction, the insider now owns 196,993 shares in the company, valued at $5,011,501.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Natalia Mirgorodskaya sold 2,080 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $40.02, for a total transaction of $83,241.60. Following the sale, the insider now owns 22,477 shares of the company’s stock, valued at approximately $899,529.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott Darling sold 3,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $25.44, for a total transaction of $76,320.00. Following the completion of the transaction, the insider now owns 196,993 shares in the company, valued at $5,011,501.92. The disclosure for this sale can be found here. Insiders have sold 69,205 shares of company stock valued at $2,044,893 in the last quarter. Corporate insiders own 18.06% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of UPST. Algert Global LLC purchased a new stake in Upstart in the second quarter valued at $255,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Upstart by 7.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 44,301 shares of the company’s stock valued at $1,045,000 after purchasing an additional 2,976 shares during the last quarter. Millennium Management LLC boosted its position in shares of Upstart by 1,792.9% in the 2nd quarter. Millennium Management LLC now owns 262,396 shares of the company’s stock valued at $6,190,000 after purchasing an additional 277,896 shares during the period. ProShare Advisors LLC grew its stake in Upstart by 49.1% during the 2nd quarter. ProShare Advisors LLC now owns 19,894 shares of the company’s stock worth $469,000 after buying an additional 6,552 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in Upstart by 96.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,420 shares of the company’s stock valued at $81,000 after buying an additional 1,677 shares during the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

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.