Upstart’s (UPST) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Upstart (NASDAQ:UPST) in a research report released on Thursday, Benzinga reports.

Several other analysts also recently commented on the stock. Wedbush restated an underperform rating and set a $10.00 target price on shares of Upstart in a report on Wednesday, August 7th. BTIG Research initiated coverage on shares of Upstart in a report on Friday, June 7th. They set a sell rating and a $14.00 target price on the stock. Redburn Atlantic upgraded shares of Upstart from a sell rating to a neutral rating and raised their target price for the stock from $22.50 to $25.50 in a report on Tuesday, June 4th. JMP Securities restated a market perform rating on shares of Upstart in a report on Wednesday, April 17th. Finally, Mizuho upgraded shares of Upstart from an underperform rating to an outperform rating and lifted their price objective for the company from $17.00 to $31.00 in a report on Wednesday, July 31st. Five analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $24.50.

Upstart Price Performance

Upstart stock opened at $36.25 on Thursday. The company’s 50 day simple moving average is $25.50 and its 200 day simple moving average is $25.94. Upstart has a fifty-two week low of $19.84 and a fifty-two week high of $49.62. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of -17.60 and a beta of 1.97.

Upstart (NASDAQ:UPST) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.17) earnings per share for the quarter, topping 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 31.57%. The business had revenue of $127.63 million for the quarter, compared to analyst estimates of $124.55 million. During the same quarter last year, the firm earned ($0.34) EPS. Upstart’s quarterly revenue was down 6.0% compared to the same quarter last year. As a group, analysts predict that Upstart will post -2.7 EPS for the current fiscal year.

Insider Activity

In related news, CTO Paul Gu sold 80,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $29.52, for a total value of $2,361,600.00. Following the completion of the transaction, the chief technology officer now owns 893,596 shares of the company’s stock, valued at $26,378,953.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Upstart news, CTO Paul Gu sold 80,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $29.52, for a total transaction of $2,361,600.00. Following the completion of the transaction, the chief technology officer now owns 893,596 shares of the company’s stock, valued at $26,378,953.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Scott Darling sold 3,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $25.44, for a total value of $76,320.00. Following the transaction, the insider now directly owns 196,993 shares of the company’s stock, valued at approximately $5,011,501.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 171,610 shares of company stock valued at $4,725,533. 18.06% of the stock is owned by company insiders.

Institutional Trading of Upstart

Several institutional investors have recently added to or reduced their stakes in UPST. Atomi Financial Group Inc. boosted its holdings in shares of Upstart by 0.7% during the 2nd quarter. Atomi Financial Group Inc. now owns 59,009 shares of the company’s stock worth $1,392,000 after buying an additional 406 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Upstart by 18.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 2,657 shares of the company’s stock worth $63,000 after purchasing an additional 409 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Upstart by 4.2% in the 2nd quarter. Principal Financial Group Inc. now owns 10,405 shares of the company’s stock worth $245,000 after purchasing an additional 422 shares in the last quarter. Inspire Advisors LLC lifted its holdings in shares of Upstart by 3.0% in the 2nd quarter. Inspire Advisors LLC now owns 16,623 shares of the company’s stock worth $392,000 after purchasing an additional 480 shares in the last quarter. Finally, Cassady Schiller Wealth Management LLC lifted its holdings in shares of Upstart by 23.7% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 2,748 shares of the company’s stock worth $112,000 after purchasing an additional 527 shares in the last quarter. 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.