Upstart Holdings, Inc. (NASDAQ:UPST) – Research analysts at Piper Sandler upped their Q1 2022 earnings per share (EPS) estimates for Upstart in a research report issued on Thursday, January 13th. Piper Sandler analyst A. Ramnani now forecasts that the company will post earnings per share of $0.24 for the quarter, up from their previous forecast of $0.20. Piper Sandler currently has a “Overweight” rating and a $223.00 price target on the stock.
Several other equities analysts have also recently commented on UPST. Morgan Stanley began coverage on shares of Upstart in a research report on Thursday, December 9th. They issued an “equal weight” rating and a $200.00 target price for the company. Barclays lifted their price target on shares of Upstart from $230.00 to $345.00 and gave the company an “overweight” rating in a report on Monday, September 20th. JMP Securities decreased their price target on shares of Upstart from $327.00 to $315.00 and set a “market outperform” rating on the stock in a report on Monday, November 15th. Wedbush initiated coverage on shares of Upstart in a report on Wednesday, December 22nd. They set a “neutral” rating and a $160.00 price target on the stock. Finally, Citigroup raised shares of Upstart from a “neutral” rating to a “buy” rating and set a $350.00 price target on the stock in a report on Friday, December 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, Upstart presently has a consensus rating of “Hold” and a consensus target price of $271.36.
Upstart (NASDAQ:UPST) last issued its earnings results on Tuesday, November 9th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.21 by $0.39. The company had revenue of $228.45 million during the quarter, compared to analysts’ expectations of $213.46 million. Upstart had a net margin of 12.30% and a return on equity of 15.32%.
Several hedge funds have recently bought and sold shares of UPST. Vulcan Value Partners LLC raised its position in shares of Upstart by 179.4% in the 3rd quarter. Vulcan Value Partners LLC now owns 4,250,461 shares of the company’s stock worth $1,345,016,000 after acquiring an additional 2,729,357 shares in the last quarter. BlackRock Inc. raised its position in shares of Upstart by 188.8% in the 3rd quarter. BlackRock Inc. now owns 1,773,042 shares of the company’s stock worth $561,063,000 after acquiring an additional 1,159,192 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Upstart in the 2nd quarter worth about $83,433,000. Kuvari Partners LLP bought a new position in shares of Upstart in the 2nd quarter worth about $81,164,000. Finally, Two Sigma Advisers LP bought a new position in shares of Upstart in the 3rd quarter worth about $168,314,000. 51.49% of the stock is owned by hedge funds and other institutional investors.
In other Upstart news, General Counsel Alison Nicoll sold 7,500 shares of Upstart stock in a transaction dated Wednesday, January 12th. The stock was sold at an average price of $121.74, for a total transaction of $913,050.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Dave Girouard sold 83,333 shares of Upstart stock in a transaction dated Monday, January 3rd. The stock was sold at an average price of $148.48, for a total value of $12,373,283.84. The disclosure for this sale can be found here. Insiders have sold a total of 1,705,366 shares of company stock worth $349,853,904 over the last ninety days. Company insiders own 25.20% of the company’s stock.
Upstart Holdings, Inc operates a cloud- based artificial intelligence (AI) lending platform. The company's platform aggregates consumer demand for loans and connects it to its network of the company's AI- enabled bank partners. Its platform connects consumers, banks, and institutional investors through a shared AI lending platform.
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