Upstart (NASDAQ:UPST) Stock Price Expected to Rise, Bank of America Analyst Says

Upstart (NASDAQ:UPST) had its target price boosted by equities research analysts at Bank of America from $33.00 to $39.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “underperform” rating on the stock. Bank of America‘s target price would indicate a potential downside of 53.66% from the company’s current price.

UPST has been the topic of a number of other research reports. Needham & Company LLC boosted their target price on shares of Upstart from $100.00 to $108.00 and gave the company a “buy” rating in a research report on Wednesday. Piper Sandler reiterated an “overweight” rating and set a $105.00 target price (up previously from $85.00) on shares of Upstart in a research report on Wednesday. JPMorgan Chase & Co. upgraded shares of Upstart from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $57.00 to $79.00 in a research report on Wednesday. B. Riley upgraded shares of Upstart from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $49.00 to $105.00 in a report on Wednesday. Finally, Redburn Atlantic upgraded shares of Upstart from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $37.00 to $95.00 in a report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given 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 Performance

NASDAQ:UPST opened at $84.16 on Wednesday. Upstart has a 52 week low of $20.60 and a 52 week high of $96.43. The firm’s fifty day moving average is $67.99 and its 200-day moving average is $54.82. The firm has a market cap of $7.68 billion, a P/E ratio of -43.61 and a beta of 2.25.

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

Insider Activity

In other news, CFO Sanjay Datta sold 1,500 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $68.56, for a total value of $102,840.00. Following the completion of the sale, the chief financial officer now owns 329,593 shares in the company, valued at $22,596,896.08. This represents a 0.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Dave Girouard sold 4,374 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $69.79, for a total transaction of $305,261.46. Following the completion of the sale, the chief executive officer now owns 57,138 shares of the company’s stock, valued at approximately $3,987,661.02. This represents a 7.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 241,201 shares of company stock worth $17,003,724 over the last quarter. Insiders own 18.06% of the company’s stock.

Institutional Trading of Upstart

Institutional investors and hedge funds have recently made changes to their positions in the company. Rakuten Securities Inc. bought a new position in Upstart during the fourth quarter valued at about $31,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Upstart during the third quarter valued at about $35,000. BNP Paribas bought a new position in Upstart during the third quarter valued at about $37,000. Blue Trust Inc. grew its position in Upstart by 125.3% during the third quarter. Blue Trust Inc. now owns 989 shares of the company’s stock valued at $40,000 after buying an additional 550 shares during the period. Finally, Hollencrest Capital Management bought a new position in Upstart during the third quarter valued at about $40,000. Hedge funds and other institutional investors 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.