JPMorgan Chase & Co. Cuts Upstart (NASDAQ:UPST) Price Target to $65.00

Upstart (NASDAQ:UPST) had its price objective trimmed by JPMorgan Chase & Co. from $88.00 to $65.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research firms have also recently commented on UPST. Needham & Company LLC lowered their target price on shares of Upstart from $82.00 to $56.00 and set a “buy” rating for the company in a research note on Wednesday. Stephens decreased their price objective on Upstart from $55.00 to $40.00 and set an “equal weight” rating on the stock in a report on Wednesday. Piper Sandler dropped their target price on Upstart from $80.00 to $56.00 and set an “overweight” rating for the company in a research note on Wednesday. Morgan Stanley set a $45.00 target price on Upstart in a research report on Wednesday. Finally, Bank of America lowered their price target on Upstart from $81.00 to $71.00 and set a “neutral” rating for the company in a report on Wednesday. Six research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $64.58.

Upstart Trading Up 2.3%

Upstart stock opened at $38.60 on Wednesday. The stock has a 50-day moving average price of $55.64 and a 200 day moving average price of $59.76. Upstart has a 52 week low of $31.40 and a 52 week high of $96.43. The stock has a market cap of $3.76 billion, a PE ratio of 175.46 and a beta of 2.26.

Upstart (NASDAQ:UPST) last released its quarterly earnings results on Tuesday, November 4th. The company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.10. The company had revenue of $277.11 million for the quarter, compared to analysts’ expectations of $288.94 million. Upstart had a net margin of 3.33% and a return on equity of 3.68%. The firm’s revenue for the quarter was up 70.9% compared to the same quarter last year. During the same period last year, the company earned ($0.07) EPS. Upstart has set its Q4 2025 guidance at EPS. FY 2025 guidance at EPS. On average, equities analysts predict that Upstart will post -0.03 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Sanjay Datta sold 13,473 shares of Upstart stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $61.12, for a total value of $823,469.76. Following the transaction, the chief financial officer owned 297,904 shares in the company, valued at approximately $18,207,892.48. This trade represents a 4.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Natalia Mirgorodskaya sold 1,439 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $69.21, for a total value of $99,593.19. Following the sale, the insider directly owned 21,081 shares of the company’s stock, valued at approximately $1,459,016.01. This trade represents a 6.39% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 106,214 shares of company stock worth $6,803,558. Corporate insiders own 16.67% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Upstart by 2.8% during the first quarter. Vanguard Group Inc. now owns 8,014,656 shares of the company’s stock valued at $368,915,000 after buying an additional 221,204 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Upstart by 3.8% in the 2nd quarter. Geode Capital Management LLC now owns 2,009,116 shares of the company’s stock valued at $129,965,000 after acquiring an additional 73,582 shares during the period. Invesco Ltd. lifted its holdings in shares of Upstart by 79.0% during the 1st quarter. Invesco Ltd. now owns 1,270,352 shares of the company’s stock valued at $58,474,000 after acquiring an additional 560,668 shares in the last quarter. Driehaus Capital Management LLC lifted its holdings in shares of Upstart by 71.5% during the 1st quarter. Driehaus Capital Management LLC now owns 1,215,237 shares of the company’s stock valued at $55,937,000 after acquiring an additional 506,787 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Upstart by 3.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,197,966 shares of the company’s stock worth $55,143,000 after purchasing an additional 44,635 shares during the period. Hedge funds and other institutional investors 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.