Upstart (NASDAQ:UPST) Price Target Cut to $223.00

Upstart (NASDAQ:UPST) had its price target dropped by equities researchers at Piper Sandler from $300.00 to $223.00 in a research report issued to clients and investors on Thursday, The Fly reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 100.70% from the company’s current price. Piper Sandler also issued estimates for Upstart’s Q1 2022 earnings at $0.24 EPS.

Several other brokerages have also recently commented on UPST. Barclays upped their target price on Upstart from $230.00 to $345.00 and gave the company an “overweight” rating in a report on Monday, September 20th. Citigroup upgraded Upstart from a “neutral” rating to a “buy” rating and set a $350.00 target price on the stock in a report on Friday, December 3rd. Bank of America cut Upstart from a “neutral” rating to an “underperform” rating and set a $300.00 target price on the stock. in a report on Monday, October 18th. Jefferies Financial Group cut Upstart from a “buy” rating to a “hold” rating and upped their target price for the company from $160.00 to $330.00 in a report on Tuesday, October 26th. Finally, Zacks Investment Research upgraded Upstart from a “sell” rating to a “hold” rating in a report on Friday, November 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $271.36.

Upstart stock opened at $111.11 on Thursday. The business has a 50 day moving average of $177.18 and a 200-day moving average of $213.87. Upstart has a 1 year low of $42.51 and a 1 year high of $401.49. The company has a market capitalization of $9.11 billion and a P/E ratio of 138.89.

Upstart (NASDAQ:UPST) last released its quarterly earnings data on Tuesday, November 9th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.39. Upstart had a return on equity of 15.32% and a net margin of 12.30%. The company had revenue of $228.45 million during the quarter, compared to the consensus estimate of $213.46 million. As a group, equities research analysts predict that Upstart will post 0.98 EPS for the current fiscal year.

In related news, SVP Paul Gu sold 39,000 shares of the stock in a transaction on Monday, November 15th. The stock was sold at an average price of $244.94, for a total value of $9,552,660.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Alison Nicoll sold 7,500 shares of the stock in a transaction on Wednesday, January 12th. The stock was sold at an average price of $121.74, for a total value of $913,050.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,705,366 shares of company stock worth $349,853,904. 25.20% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Allworth Financial LP purchased a new stake in Upstart in the 3rd quarter valued at $26,000. Wagner Wealth Management LLC purchased a new stake in Upstart in the 3rd quarter valued at $29,000. Koshinski Asset Management Inc. purchased a new stake in Upstart in the 3rd quarter valued at $30,000. West Oak Capital LLC purchased a new stake in Upstart in the 3rd quarter valued at $32,000. Finally, Carroll Financial Associates Inc. purchased a new stake in Upstart in the 3rd quarter valued at $31,000. Institutional investors own 51.49% of the company’s stock.

About Upstart

Upstart Holdings, Inc operates a cloud- based artificial intelligence (AI) lending platform. The company's platform aggregates consumer demand for loans and connects it to its network of the company's AI- enabled bank partners. Its platform connects consumers, banks, and institutional investors through a shared AI lending platform.

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