Upstart (NASDAQ:UPST) Stock Rating Reaffirmed by Needham & Company LLC

Upstart (NASDAQ:UPST)‘s stock had its “hold” rating restated by investment analysts at Needham & Company LLC in a research report issued on Wednesday, Benzinga reports.

A number of other equities analysts have also issued reports on the company. Mizuho raised their price target on Upstart from $19.00 to $23.00 and gave the stock an “underperform” rating in a report on Thursday, January 18th. Piper Sandler reissued a “neutral” rating and issued a $28.00 target price on shares of Upstart in a report on Tuesday, March 19th. JMP Securities reiterated a “market perform” rating on shares of Upstart in a research report on Wednesday, April 17th. JPMorgan Chase & Co. decreased 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 assumed coverage on shares of Upstart in a report on Thursday, April 4th. They set an “underperform” rating and a $22.00 price objective on the stock. Five analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Upstart has a consensus rating of “Hold” and a consensus target price of $25.40.

Upstart Stock Down 2.1 %

NASDAQ:UPST opened at $25.61 on Wednesday. The company has a market capitalization of $2.25 billion, a PE ratio of -9.02 and a beta of 2.01. Upstart has a 52-week low of $15.88 and a 52-week high of $72.58. The stock’s 50 day moving average price is $24.70 and its 200 day moving average price is $29.14.

Upstart (NASDAQ:UPST) last posted its quarterly earnings data on Tuesday, February 13th. The company reported ($0.51) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.05. The business had revenue of $140.31 million during the quarter, compared to the consensus estimate of $135.28 million. Upstart had a negative return on equity of 35.47% and a negative net margin of 46.76%. As a group, sell-side analysts anticipate that Upstart will post -2.19 EPS for the current fiscal year.

Insider Activity

In other Upstart news, CFO Sanjay Datta sold 1,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $33.84, for a total value of $33,840.00. Following the sale, the chief financial officer now directly owns 354,090 shares of the company’s stock, valued at approximately $11,982,405.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Sanjay Datta sold 1,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $33.84, for a total transaction of $33,840.00. Following the completion of the sale, the chief financial officer now directly owns 354,090 shares of the company’s stock, valued at approximately $11,982,405.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Paul Gu sold 60,000 shares of Upstart stock in a transaction on Monday, April 1st. The shares were sold at an average price of $26.31, for a total value of $1,578,600.00. Following the completion of the transaction, the chief technology officer now owns 893,596 shares in the company, valued at approximately $23,510,510.76. The disclosure for this sale can be found here. Insiders sold a total of 66,419 shares of company stock valued at $1,750,272 over the last quarter. Company insiders own 18.06% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC acquired a new position in shares of Upstart during the fourth quarter worth about $25,000. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Upstart by 80.6% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,743 shares of the company’s stock valued at $47,000 after buying an additional 778 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in Upstart during the 3rd quarter worth approximately $51,000. Strs Ohio purchased a new position in Upstart in the 4th quarter worth approximately $57,000. Finally, ICA Group Wealth Management LLC acquired a new stake in Upstart in the fourth quarter valued at approximately $61,000. 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.