Upstart (NASDAQ:UPST) Raised to “Neutral” at JPMorgan Chase & Co.

Upstart (NASDAQ:UPST) was upgraded by research analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage presently has a $79.00 price objective on the stock, up from their prior price objective of $57.00. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 6.13% from the company’s previous close.

A number of other brokerages also recently commented on UPST. Needham & Company LLC raised Upstart from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a research report on Friday, December 13th. Wedbush lifted their price objective on Upstart from $60.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. B. Riley raised Upstart from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $49.00 to $105.00 in a research report on Wednesday. Citigroup raised Upstart from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $56.00 to $87.00 in a research report on Friday, November 8th. Finally, Piper Sandler raised Upstart from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $31.00 to $85.00 in a research report on Friday, November 8th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $68.83.

Upstart Stock Down 5.2 %

NASDAQ UPST opened at $84.16 on Wednesday. Upstart has a fifty-two week low of $20.60 and a fifty-two week high of $96.43. The stock has a market cap of $7.68 billion, a price-to-earnings ratio of -43.61 and a beta of 2.25. The business has a fifty day moving average of $67.99 and a 200-day moving average of $54.82.

Upstart (NASDAQ:UPST) last released its quarterly earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. Upstart had a negative return on equity of 32.57% and a negative net margin of 30.15%. As a group, analysts anticipate that Upstart will post -2.18 EPS for the current year.

Insider Buying and Selling at Upstart

In other Upstart news, CFO Sanjay Datta sold 18,619 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $69.82, for a total transaction of $1,299,978.58. Following the transaction, the chief financial officer now owns 310,974 shares in the company, valued at $21,712,204.68. The trade was a 5.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Dave Girouard sold 41,667 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $62.60, for a total value of $2,608,354.20. Following the transaction, the chief executive officer now owns 57,138 shares in the company, valued at approximately $3,576,838.80. This represents a 42.17 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 241,201 shares of company stock valued at $17,003,724. Company insiders own 18.06% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Los Angeles Capital Management LLC acquired a new position in shares of Upstart during the third quarter worth about $334,000. Tyler Stone Wealth Management lifted its stake in shares of Upstart by 94.1% in the third quarter. Tyler Stone Wealth Management now owns 55,534 shares of the company’s stock worth $2,222,000 after acquiring an additional 26,917 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of Upstart in the third quarter worth about $939,000. Quadrature Capital Ltd acquired a new position in shares of Upstart in the third quarter worth about $676,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Upstart by 63.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock worth $29,031,000 after acquiring an additional 282,481 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

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.