Upstart Holdings, Inc. (NASDAQ:UPST) Given Consensus Recommendation of “Reduce” by Analysts

Upstart Holdings, Inc. (NASDAQ:UPST) has received a consensus rating of “Reduce” from the eleven ratings firms that are presently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $26.00.

UPST has been the subject of several research reports. Piper Sandler reissued a “neutral” rating and issued a $28.00 target price on shares of Upstart in a report on Tuesday, March 19th. Bank of America initiated coverage on Upstart in a report on Thursday, April 4th. They issued an “underperform” rating and a $22.00 target price for the company. Mizuho boosted their target price on Upstart from $19.00 to $23.00 and gave the company an “underperform” rating in a report on Thursday, January 18th. JPMorgan Chase & Co. reduced their target price on Upstart from $26.00 to $24.00 and set an “underweight” rating for the company in a report on Wednesday, February 14th. Finally, JMP Securities reissued a “market perform” rating on shares of Upstart in a report on Wednesday, April 17th.

Upstart Stock Performance

NASDAQ:UPST opened at $22.87 on Thursday. The stock has a 50-day simple moving average of $24.82 and a 200-day simple moving average of $29.31. The stock has a market cap of $2.01 billion, a P/E ratio of -7.89 and a beta of 1.94. Upstart has a 1 year low of $11.93 and a 1 year high of $72.58.

Upstart (NASDAQ:UPST) last released its quarterly earnings data on Tuesday, February 13th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.05. Upstart had a negative return on equity of 35.47% and a negative net margin of 46.76%. The business had revenue of $140.31 million during the quarter, compared to analysts’ expectations of $135.28 million. On average, equities research analysts predict that Upstart will post -2.19 EPS for the current year.

Insiders Place Their Bets

In other Upstart news, CFO Sanjay Datta sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $33.84, for a total transaction of $33,840.00. Following the transaction, the chief financial officer now owns 354,090 shares in the company, valued at approximately $11,982,405.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Upstart news, CFO Sanjay Datta sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $33.84, for a total transaction of $33,840.00. Following the transaction, the chief financial officer now owns 354,090 shares in the company, valued at approximately $11,982,405.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Natalia Mirgorodskaya sold 1,919 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $24.30, for a total value of $46,631.70. Following the transaction, the insider now owns 28,246 shares in the company, valued at approximately $686,377.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,419 shares of company stock worth $1,750,272. Company insiders own 18.06% of the company’s stock.

Institutional Investors Weigh In On Upstart

A number of institutional investors and hedge funds have recently modified their holdings of the company. Private Advisor Group LLC grew its holdings in shares of Upstart by 13.6% in the 1st quarter. Private Advisor Group LLC now owns 17,936 shares of the company’s stock worth $482,000 after acquiring an additional 2,149 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Upstart by 18.1% in the 1st quarter. Principal Financial Group Inc. now owns 9,983 shares of the company’s stock worth $268,000 after acquiring an additional 1,533 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Upstart by 80.6% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,743 shares of the company’s stock worth $47,000 after acquiring an additional 778 shares during the period. Newbridge Financial Services Group Inc. grew its holdings in shares of Upstart by 82.9% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 8,689 shares of the company’s stock worth $234,000 after acquiring an additional 3,938 shares during the period. Finally, Gemmer Asset Management LLC grew its holdings in shares of Upstart by 8.2% in the 1st quarter. Gemmer Asset Management LLC now owns 8,792 shares of the company’s stock worth $236,000 after acquiring an additional 666 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.