Mizuho Boosts Upstart (NASDAQ:UPST) Price Target to $48.00

Upstart (NASDAQ:UPST) had its price target hoisted by research analysts at Mizuho from $33.00 to $48.00 in a report issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price target would suggest a potential upside of 21.09% from the stock’s current price.

A number of other brokerages have also weighed in on UPST. Citigroup upgraded shares of Upstart from a “sell” rating to a “neutral” rating and increased their target price for the stock from $15.00 to $33.00 in a research report on Wednesday, August 7th. JPMorgan Chase & Co. upped their target price on Upstart from $27.00 to $30.00 and gave the stock an “underweight” rating in a research note on Tuesday, August 20th. BTIG Research initiated coverage on Upstart in a report on Friday, June 7th. They set a “sell” rating and a $14.00 target price for the company. Barclays upped their price objective on shares of Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Finally, Wedbush reissued an “underperform” rating and issued a $10.00 price target on shares of Upstart in a research note on Wednesday, August 7th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, Upstart currently has a consensus rating of “Hold” and an average price target of $28.45.

Upstart Stock Performance

Shares of UPST stock traded down $0.36 on Friday, hitting $39.64. The company had a trading volume of 3,966,597 shares, compared to its average volume of 6,596,076. The stock’s 50-day moving average is $33.79 and its two-hundred day moving average is $27.68. The firm has a market cap of $3.48 billion, a P/E ratio of -19.33 and a beta of 2.03. Upstart has a twelve month low of $19.84 and a twelve month high of $49.62.

Upstart (NASDAQ:UPST) last released 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 net margin of 38.05% and a negative return on equity of 32.01%. The business had revenue of $127.63 million for the quarter, compared to analyst estimates of $124.55 million. During the same quarter in the previous year, the business earned ($0.34) earnings per share. Upstart’s revenue for the quarter was down 6.0% on a year-over-year basis. Equities research analysts predict that Upstart will post -2.39 EPS for the current year.

Insider Activity at Upstart

In other Upstart news, CEO Dave Girouard sold 3,361 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $38.35, for a total value of $128,894.35. Following the completion of the sale, the chief executive officer now owns 61,512 shares in the company, valued at approximately $2,358,985.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Upstart news, Chief Legal Officer Scott Darling sold 9,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $45.00, for a total transaction of $405,000.00. Following the transaction, the insider now owns 164,870 shares in the company, valued at $7,419,150. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dave Girouard sold 3,361 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $38.35, for a total value of $128,894.35. Following the transaction, the chief executive officer now owns 61,512 shares of the company’s stock, valued at approximately $2,358,985.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 160,959 shares of company stock worth $6,042,324. 18.06% of the stock is owned by company insiders.

Institutional Trading of Upstart

A number of institutional investors have recently modified their holdings of UPST. Norges Bank acquired a new stake in Upstart during the 4th quarter valued at approximately $19,017,000. Millennium Management LLC boosted its holdings in Upstart by 1,792.9% in the second 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 last quarter. Vanguard Group Inc. grew its position in Upstart by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 7,013,918 shares of the company’s stock worth $286,589,000 after purchasing an additional 157,719 shares during the period. Seven Eight Capital LP raised its stake in shares of Upstart by 349.1% during the 1st quarter. Seven Eight Capital LP now owns 189,385 shares of the company’s stock valued at $5,093,000 after buying an additional 147,213 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Upstart by 442.1% in the 2nd quarter. SG Americas Securities LLC now owns 148,214 shares of the company’s stock valued at $3,496,000 after buying an additional 120,871 shares during the period. 63.01% of the stock is currently 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.