Upstart (NASDAQ:UPST) Raised to “Neutral” at Wedbush

Wedbush upgraded shares of Upstart (NASDAQ:UPST) from an underperform rating to a neutral rating in a report published on Monday, MarketBeat.com reports. Wedbush currently has $45.00 price objective on the stock, up from their prior price objective of $10.00. Wedbush also issued estimates for Upstart’s Q4 2024 earnings at ($0.35) EPS, FY2024 earnings at ($2.28) EPS, Q1 2025 earnings at ($0.41) EPS, Q2 2025 earnings at ($0.27) EPS, Q3 2025 earnings at ($0.12) EPS, Q4 2025 earnings at $0.09 EPS, FY2025 earnings at ($0.70) EPS and FY2026 earnings at $0.11 EPS.

Several other research analysts have also recently weighed in on UPST. Piper Sandler upped their price target on shares of Upstart from $28.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Citigroup raised Upstart from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $15.00 to $33.00 in a research report on Wednesday, August 7th. Needham & Company LLC reissued a “hold” rating on shares of Upstart in a research report on Thursday, August 8th. Barclays upped their price target on Upstart from $25.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Finally, Mizuho lifted their price objective on shares of Upstart from $33.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $31.50.

Upstart Stock Performance

Shares of NASDAQ:UPST opened at $54.38 on Monday. The company has a 50 day moving average price of $39.94 and a two-hundred day moving average price of $30.04. The company has a market capitalization of $4.87 billion, a PE ratio of -23.24 and a beta of 2.01. Upstart has a 52 week low of $19.84 and a 52 week high of $57.40.

Upstart (NASDAQ:UPST) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $124.55 million. During the same quarter in the prior year, the company earned ($0.34) EPS. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. On average, sell-side analysts forecast that Upstart will post -2.39 earnings per share for the current year.

Insider Activity

In other Upstart news, CFO Sanjay Datta sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $28.15, for a total transaction of $28,150.00. Following the transaction, the chief financial officer now owns 373,398 shares of the company’s stock, valued at $10,511,153.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chief Legal Officer Scott Darling sold 9,000 shares of Upstart stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $45.00, for a total transaction of $405,000.00. Following the completion of the sale, the insider now owns 164,870 shares of the company’s stock, valued at approximately $7,419,150. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Sanjay Datta sold 1,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $28.15, for a total transaction of $28,150.00. Following the completion of the transaction, the chief financial officer now owns 373,398 shares in the company, valued at approximately $10,511,153.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 312,959 shares of company stock valued at $13,641,350. 18.06% of the stock is owned by company insiders.

Institutional Investors Weigh In On Upstart

Several hedge funds have recently bought and sold shares of UPST. Magnetar Financial LLC increased its stake in shares of Upstart by 1,106.7% during the first quarter. Magnetar Financial LLC now owns 97,281 shares of the company’s stock worth $2,616,000 after purchasing an additional 89,219 shares during the period. Vanguard Group Inc. increased its position in Upstart by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 7,013,918 shares of the company’s stock worth $286,589,000 after acquiring an additional 157,719 shares during the period. LifePro Asset Management acquired a new stake in Upstart in the 3rd quarter worth about $2,008,000. Baader Bank Aktiengesellschaft boosted its holdings in Upstart by 273.8% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 41,115 shares of the company’s stock valued at $969,000 after purchasing an additional 30,115 shares during the period. Finally, Entropy Technologies LP bought a new stake in Upstart in the 1st quarter valued at about $1,358,000. 63.01% of the stock is currently 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.