Upstart (NASDAQ:UPST) Now Covered by Analysts at Piper Sandler

Stock analysts at Piper Sandler assumed coverage on shares of Upstart (NASDAQ:UPST) in a research note issued to investors on Tuesday. The firm set an “overweight” rating and a $75.00 price target on the stock. Piper Sandler’s target price indicates a potential upside of 26.97% from the company’s previous close.

A number of other equities analysts have also issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $70.00 price target on shares of Upstart in a report on Monday, May 19th. Barclays increased their price objective on shares of Upstart from $42.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Monday, May 12th. The Goldman Sachs Group boosted their target price on shares of Upstart from $15.00 to $16.50 and gave the company a “sell” rating in a research report on Thursday, May 8th. Bank of America raised Upstart from an “underperform” rating to a “neutral” rating and set a $53.00 price target on the stock in a research report on Tuesday, April 29th. Finally, Stephens began coverage on Upstart in a research note on Thursday, June 12th. They set an “equal weight” rating and a $55.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Upstart presently has an average rating of “Hold” and a consensus price target of $67.42.

Upstart Stock Up 1.8%

UPST opened at $59.07 on Tuesday. The stock has a market cap of $5.62 billion, a P/E ratio of -78.76 and a beta of 2.29. Upstart has a 52-week low of $20.60 and a 52-week high of $96.43. The business has a fifty day moving average of $49.29 and a 200 day moving average of $57.18.

Upstart (NASDAQ:UPST) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.19 by $0.11. Upstart had a negative return on equity of 15.27% and a negative net margin of 9.20%. The firm had revenue of $213.37 million during the quarter, compared to analyst estimates of $201.08 million. During the same period in the previous year, the company posted ($0.31) EPS. The business’s revenue for the quarter was up 67.0% compared to the same quarter last year. Equities analysts anticipate that Upstart will post -0.03 EPS for the current fiscal year.

Insider Activity

In related news, CEO Dave Girouard sold 41,667 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $60.11, for a total transaction of $2,504,603.37. Following the completion of the sale, the chief executive officer now directly owns 52,614 shares in the company, valued at approximately $3,162,627.54. This trade represents a 44.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Natalia Mirgorodskaya sold 764 shares of the business’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $46.96, for a total transaction of $35,877.44. Following the completion of the transaction, the insider now owns 25,963 shares in the company, valued at $1,219,222.48. The trade was a 2.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 57,783 shares of company stock worth $3,257,814 over the last 90 days. 16.67% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in UPST. Rhumbline Advisers increased its position in shares of Upstart by 4.6% during the first quarter. Rhumbline Advisers now owns 117,307 shares of the company’s stock valued at $5,400,000 after acquiring an additional 5,160 shares during the last quarter. Strs Ohio purchased a new position in shares of Upstart during the first quarter worth $239,000. Acadian Asset Management LLC acquired a new stake in shares of Upstart in the first quarter valued at $208,000. Intech Investment Management LLC raised its holdings in shares of Upstart by 70.8% in the 1st quarter. Intech Investment Management LLC now owns 74,134 shares of the company’s stock valued at $3,412,000 after buying an additional 30,739 shares during the period. Finally, Bayforest Capital Ltd lifted its stake in Upstart by 52.3% during the 1st quarter. Bayforest Capital Ltd now owns 9,081 shares of the company’s stock worth $418,000 after acquiring an additional 3,118 shares in the last quarter. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Upstart Company Profile

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.