Upstart Holdings, Inc. (NASDAQ:UPST) Receives Consensus Rating of “Reduce” from Brokerages

Upstart Holdings, Inc. (NASDAQ:UPST) has received a consensus rating of “Reduce” from the eleven ratings firms that are presently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $27.61.

Several research firms have recently commented on UPST. Citigroup raised shares of Upstart from a “sell” rating to a “neutral” rating and raised their target price for the stock from $15.00 to $33.00 in a research report on Wednesday, August 7th. Redburn Atlantic raised Upstart from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $22.50 to $25.50 in a research report on Tuesday, June 4th. Mizuho upped their target price on Upstart from $33.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday. Needham & Company LLC restated a “hold” rating on shares of Upstart in a research report on Thursday, August 8th. Finally, Wedbush reiterated an “underperform” rating and issued a $10.00 price objective on shares of Upstart in a report on Wednesday, August 7th.

Upstart Trading Down 0.6 %

Shares of Upstart stock opened at $39.74 on Friday. The firm has a market capitalization of $3.49 billion, a PE ratio of -19.29 and a beta of 2.03. Upstart has a 12 month low of $19.84 and a 12 month high of $49.62. The business’s 50-day moving average price is $34.31 and its 200-day moving average price is $27.86.

Upstart (NASDAQ:UPST) last posted its quarterly 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 net margin of 38.05% and a negative return on equity of 32.01%. The business had revenue of $127.63 million during the quarter, compared to the consensus estimate of $124.55 million. During the same period in the previous year, the firm posted ($0.34) earnings per share. The firm’s revenue for the quarter was down 6.0% on a year-over-year basis. As a group, analysts predict that Upstart will post -2.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CTO Paul Gu sold 5,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $23.52, for a total transaction of $117,600.00. Following the sale, the chief technology officer now owns 894,629 shares in the company, valued at $21,041,674.08. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CTO Paul Gu sold 5,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $23.52, for a total transaction of $117,600.00. Following the transaction, the chief technology officer now directly owns 894,629 shares of the company’s stock, valued at $21,041,674.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Sanjay Datta sold 1,500 shares of Upstart stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $34.42, for a total value of $51,630.00. Following the completion of the sale, the chief financial officer now owns 343,093 shares of the company’s stock, valued at $11,809,261.06. The disclosure for this sale can be found here. Insiders have sold a total of 160,959 shares of company stock worth $6,042,324 in the last quarter. Corporate insiders own 18.06% of the company’s stock.

Hedge Funds Weigh In On Upstart

Several hedge funds and other institutional investors have recently modified their holdings of the company. Anfield Capital Management LLC purchased a new stake in Upstart during the second quarter valued at approximately $33,000. BOCHK Asset Management Ltd purchased a new stake in shares of Upstart in the 4th quarter worth $61,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Upstart by 80.6% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,743 shares of the company’s stock worth $47,000 after purchasing an additional 778 shares in the last quarter. GAMMA Investing LLC raised its holdings in Upstart by 259.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,204 shares of the company’s stock worth $52,000 after purchasing an additional 1,590 shares during the period. Finally, Comerica Bank lifted its position in Upstart by 144.0% during the first quarter. Comerica Bank now owns 2,313 shares of the company’s stock valued at $62,000 after purchasing an additional 1,365 shares in the last quarter. 63.01% of the stock is owned by 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.