The Goldman Sachs Group Has Lowered Expectations for Upstart (NASDAQ:UPST) Stock Price

Upstart (NASDAQ:UPST) had its target price lowered by equities research analysts at The Goldman Sachs Group from $39.00 to $28.00 in a research note issued on Tuesday, Marketbeat.com reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 23.13% from the company’s current price.

UPST has been the topic of several other reports. BTIG Research reaffirmed a “buy” rating and issued a $43.00 target price on shares of Upstart in a report on Tuesday, September 22nd. Loop Capital assumed coverage on Upstart in a research note on Tuesday, September 8th. They set a “hold” rating and a $34.00 price target for the company. Citigroup cut their price target on Upstart from $80.00 to $61.00 and set a “buy” rating for the company in a report on Wednesday, July 22nd. Needham & Company LLC restated a “buy” rating and set a $42.00 price target on shares of Upstart in a report on Tuesday, October 6th. Finally, Piper Sandler lifted their price objective on Upstart from $46.00 to $51.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Eight research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $43.06.

Upstart Trading Down 4.6%

NASDAQ UPST opened at $22.74 on Tuesday. The stock’s 50 day moving average is $26.78 and its 200 day moving average is $29.15. Upstart has a 12 month low of $22.21 and a 12 month high of $55.22. The stock has a market cap of $2.21 billion, a PE ratio of 46.41, a P/E/G ratio of 0.84 and a beta of 2.43.

Upstart (NASDAQ:UPST) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.02). The business had revenue of $364.71 million during the quarter, compared to the consensus estimate of $354.74 million. Upstart had a return on equity of 7.13% and a net margin of 4.84%. The company’s revenue for the quarter was up 41.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 earnings per share. On average, analysts forecast that Upstart will post 0.72 EPS for the current fiscal year.

Insider Buying and Selling at Upstart

In other Upstart news, CEO Paul Gu bought 50,000 shares of the firm’s stock in a transaction dated Thursday, September 10th. The shares were purchased at an average cost of $25.55 per share, for a total transaction of $1,277,500.00. Following the transaction, the chief executive officer owned 130,000 shares of the company’s stock, valued at $3,321,500. This represents a 62.50% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sanjay Datta sold 116,000 shares of the company’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $27.29, for a total transaction of $3,165,640.00. Following the sale, the insider owned 476,578 shares in the company, valued at $13,005,813.62. This represents a 19.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 148,652 shares of company stock worth $4,133,720 over the last three months. 17.29% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Maxi Investments CY Ltd purchased a new stake in shares of Upstart in the second quarter valued at $6,852,000. Azora Capital LP bought a new stake in shares of Upstart in the 4th quarter worth about $38,580,000. Legal & General Group Plc purchased a new position in shares of Upstart during the 2nd quarter worth about $2,589,000. Deutsche Bank AG purchased a new position in shares of Upstart during the 2nd quarter worth about $3,385,000. Finally, The Manufacturers Life Insurance Company bought a new position in Upstart during the 2nd quarter valued at about $1,557,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

About Upstart

Upstart Holdings, Inc (NASDAQ: UPST) operates an artificial intelligence-powered lending platform that connects consumers seeking credit with banks and credit unions. Its technology is designed to evaluate a broader range of borrower information than traditional credit-scoring methods, with the goal of helping lending partners assess risk and automate portions of the application and underwriting process.

The company’s platform supports lending products including personal loans, automotive loans and refinancing, and home equity lines of credit.