Upstart (NASDAQ:UPST) Price Target Raised to $93.00 at Barclays

Upstart (NASDAQ:UPST) had its price target raised by Barclays from $80.00 to $93.00 in a report released on Tuesday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other analysts also recently weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of Upstart from $13.50 to $15.00 and gave the stock a “sell” rating in a research report on Wednesday, February 12th. Citigroup boosted their target price on shares of Upstart from $87.00 to $108.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. raised shares of Upstart from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $57.00 to $79.00 in a research report on Wednesday, February 12th. Bank of America boosted their target price on shares of Upstart from $33.00 to $39.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 12th. Finally, B. Riley upgraded shares of 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 note on Wednesday, February 12th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Upstart presently has an average rating of “Hold” and an average target price of $73.38.

Upstart Stock Performance

NASDAQ UPST opened at $86.89 on Tuesday. The company has a market capitalization of $7.93 billion, a price-to-earnings ratio of -45.02 and a beta of 2.25. The company’s 50-day simple moving average is $68.47 and its two-hundred day simple moving average is $56.46. Upstart has a one year low of $20.60 and a one year high of $96.43.

Upstart (NASDAQ:UPST) last issued its quarterly earnings data on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping 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%. Equities analysts expect that Upstart will post -2.18 earnings per share for the current fiscal year.

Insider Activity at Upstart

In other Upstart news, insider Natalia Mirgorodskaya sold 1,411 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $77.36, for a total value of $109,154.96. Following the completion of the sale, the insider now owns 18,596 shares of the company’s stock, valued at approximately $1,438,586.56. This trade represents a 7.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kerry Whorton Cooper sold 500 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $74.59, for a total value of $37,295.00. Following the completion of the sale, the director now directly owns 17,961 shares of the company’s stock, valued at approximately $1,339,710.99. This trade represents a 2.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 215,197 shares of company stock worth $15,190,101 in the last three months. Insiders own 18.06% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Two Sigma Advisers LP grew its holdings in shares of Upstart by 190.2% during the 4th quarter. Two Sigma Advisers LP now owns 1,709,300 shares of the company’s stock worth $105,242,000 after purchasing an additional 1,120,300 shares during the period. Marshall Wace LLP grew its holdings in shares of Upstart by 300.2% during the 4th quarter. Marshall Wace LLP now owns 1,061,512 shares of the company’s stock worth $65,357,000 after purchasing an additional 796,252 shares during the period. Fred Alger Management LLC grew its holdings in shares of Upstart by 153.2% during the 3rd quarter. Fred Alger Management LLC now owns 1,246,839 shares of the company’s stock worth $49,886,000 after purchasing an additional 754,416 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Upstart during the 4th quarter worth about $43,697,000. Finally, Invesco Ltd. grew its holdings in shares of Upstart by 886.0% during the 4th quarter. Invesco Ltd. now owns 709,684 shares of the company’s stock worth $43,695,000 after purchasing an additional 637,706 shares during the period. Institutional investors and hedge funds own 63.01% of the company’s stock.

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.