Upstart’s (UPST) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Upstart (NASDAQ:UPST) in a report released on Monday,Benzinga reports. Needham & Company LLC currently has a $70.00 target price on the stock.

UPST has been the topic of several other research reports. Bank of America raised shares of Upstart from an “underperform” rating to a “neutral” rating and set a $53.00 target price on the stock in a research note on Tuesday, April 29th. Barclays raised their target price on shares of Upstart from $42.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. Citigroup raised their target price on shares of Upstart from $87.00 to $108.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. B. Riley upgraded shares of Upstart from a “neutral” rating to a “buy” rating and raised their target price for the stock from $49.00 to $105.00 in a report on Wednesday, February 12th. Finally, The Goldman Sachs Group raised their target price on shares of Upstart from $15.00 to $16.50 and gave the stock a “sell” rating in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Upstart presently has a consensus rating of “Hold” and a consensus price target of $63.81.

Upstart Stock Down 5.8%

Shares of NASDAQ:UPST opened at $43.92 on Monday. The company has a market cap of $4.18 billion, a PE ratio of -30.08 and a beta of 2.39. The company’s 50-day moving average price is $45.97 and its 200 day moving average price is $60.19. Upstart has a fifty-two week low of $20.60 and a fifty-two week high of $96.43.

Upstart (NASDAQ:UPST) last released its earnings results on Tuesday, May 6th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.19 by $0.11. The firm had revenue of $213.37 million for the quarter, compared to analysts’ expectations of $201.08 million. Upstart had a negative net margin of 20.20% and a negative return on equity of 25.87%. Upstart’s quarterly revenue was up 67.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.31) EPS. As a group, equities analysts anticipate that Upstart will post -0.03 EPS for the current year.

Institutional Trading of Upstart

Several institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC acquired a new stake in shares of Upstart during the first quarter worth approximately $208,000. Intech Investment Management LLC lifted its stake in Upstart by 70.8% in the first quarter. Intech Investment Management LLC now owns 74,134 shares of the company’s stock valued at $3,412,000 after acquiring an additional 30,739 shares during the last quarter. Bayforest Capital Ltd lifted its stake in Upstart by 52.3% in the first quarter. Bayforest Capital Ltd now owns 9,081 shares of the company’s stock valued at $418,000 after acquiring an additional 3,118 shares during the last quarter. SCS Capital Management LLC acquired a new stake in Upstart in the first quarter valued at approximately $1,841,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Upstart by 18.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 173,017 shares of the company’s stock valued at $7,964,000 after acquiring an additional 27,287 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

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.