Brokerages Set Upstart Holdings, Inc. (NASDAQ:UPST) PT at $26.78

Upstart Holdings, Inc. (NASDAQ:UPST) has been given a consensus recommendation of “Reduce” by the eleven brokerages that are presently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $26.78.

A number of research analysts have commented on the company. Needham & Company LLC restated a “hold” rating on shares of Upstart in a research note on Wednesday, May 8th. Wedbush reissued an “underperform” rating and set a $10.00 price target on shares of Upstart in a research report on Wednesday, May 8th. Mizuho lowered their price objective on shares of Upstart from $23.00 to $17.00 and set an “underperform” rating for the company in a research report on Thursday, May 9th. JPMorgan Chase & Co. reduced their target price on shares of Upstart from $26.00 to $24.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 14th. Finally, Bank of America began coverage on shares of Upstart in a research note on Thursday, April 4th. They set an “underperform” rating and a $22.00 price target on the stock.

Upstart Price Performance

Upstart stock opened at $23.35 on Monday. The company has a market cap of $2.05 billion, a price-to-earnings ratio of -11.33 and a beta of 2.01. Upstart has a 12 month low of $19.84 and a 12 month high of $72.58. The stock’s 50-day moving average is $24.74 and its 200-day moving average is $29.22.

Upstart (NASDAQ:UPST) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.74) EPS for the quarter, beating the consensus estimate of ($0.80) by $0.06. The firm had revenue of $127.79 million for the quarter, compared to analyst estimates of $124.82 million. Upstart had a negative net margin of 32.59% and a negative return on equity of 27.89%. Research analysts anticipate that Upstart will post -2.67 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Dave Girouard sold 2,997 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $25.62, for a total transaction of $76,783.14. Following the transaction, the chief executive officer now owns 64,873 shares of the company’s stock, valued at $1,662,046.26. The sale was disclosed in a 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 on Monday, March 11th. The shares were sold at an average price of $27.50, for a total transaction of $27,500.00. Following the completion of the sale, the chief financial officer now owns 400,536 shares in the company, valued at $11,014,740. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Dave Girouard sold 2,997 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $25.62, for a total transaction of $76,783.14. Following the completion of the transaction, the chief executive officer now owns 64,873 shares in the company, valued at $1,662,046.26. The disclosure for this sale can be found here. Insiders sold a total of 180,954 shares of company stock valued at $4,990,627 in the last ninety days. Corporate insiders own 18.06% of the company’s stock.

Institutional Investors Weigh In On Upstart

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC acquired a new stake in shares of Upstart in the fourth quarter valued at approximately $25,000. Strs Ohio bought a new position in shares of Upstart in the fourth quarter worth $57,000. ICA Group Wealth Management LLC acquired a new position in shares of Upstart during the fourth quarter valued at $61,000. BOCHK Asset Management Ltd acquired a new position in shares of Upstart during the fourth quarter valued at $61,000. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of Upstart by 80.6% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,743 shares of the company’s stock valued at $47,000 after purchasing an additional 778 shares in the last quarter. 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.