Upstart (NASDAQ:UPST) Coverage Initiated by Analysts at Compass Point

Compass Point started coverage on shares of Upstart (NASDAQ:UPST – Get Rating) in a research note issued on Tuesday, March 7th, The Fly reports. The firm set a “sell” rating on the stock.

Several other equities analysts have also recently issued reports on UPST. Barclays lowered their target price on shares of Upstart to $17.00 in a research note on Tuesday, November 15th. Piper Sandler reiterated a “neutral” rating and set a $16.00 target price on shares of Upstart in a research note on Wednesday, February 15th. Jefferies Financial Group lowered their price target on Upstart from $25.00 to $20.00 in a report on Wednesday, November 9th. Mizuho cut their price objective on Upstart from $16.00 to $14.00 and set an “underperform” rating for the company in a report on Tuesday, February 21st. Finally, Citigroup downgraded Upstart from a “neutral” rating to a “sell” rating in a report on Wednesday, February 15th. Nine analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $31.69.

Upstart Stock Performance

Shares of UPST traded down $0.64 on Tuesday, hitting $14.63. 6,219,187 shares of the stock traded hands, compared to its average volume of 6,883,782. Upstart has a one year low of $12.01 and a one year high of $133.80. The company has a market capitalization of $1.19 billion, a PE ratio of -10.60 and a beta of 1.57. The business has a 50 day simple moving average of $17.59 and a 200 day simple moving average of $19.42.

Upstart (NASDAQ:UPST – Get Rating) last posted its earnings results on Tuesday, February 14th. The company reported ($0.67) EPS for the quarter, topping analysts’ consensus estimates of ($0.98) by $0.31. The business had revenue of $146.91 million during the quarter, compared to analyst estimates of $132.13 million. Upstart had a negative return on equity of 14.37% and a negative net margin of 12.90%. On average, equities analysts expect that Upstart will post -2.86 earnings per share for the current year.

Insider Activity

In related news, CEO Dave Girouard sold 4,048 shares of the stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $18.14, for a total transaction of $73,430.72. Following the completion of the sale, the chief executive officer now owns 83,066 shares in the company, valued at $1,506,817.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Upstart news, CFO Sanjay Datta sold 3,200 shares of the business’s stock in a transaction on Monday, December 19th. The shares were sold at an average price of $15.38, for a total value of $49,216.00. Following the sale, the chief financial officer now owns 257,285 shares in the company, valued at approximately $3,957,043.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Dave Girouard sold 4,048 shares of the firm’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $18.14, for a total value of $73,430.72. Following the transaction, the chief executive officer now owns 83,066 shares of the company’s stock, valued at approximately $1,506,817.24. The disclosure for this sale can be found here. Insiders have sold 57,284 shares of company stock worth $976,676 over the last ninety days. Corporate insiders own 18.87% of the company’s stock.

Hedge Funds Weigh In On Upstart

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP increased its stake in Upstart by 85.7% in the 3rd quarter. Quantbot Technologies LP now owns 1,300 shares of the company’s stock worth $27,000 after acquiring an additional 600 shares during the last quarter. Activest Wealth Management purchased a new stake in Upstart during the third quarter valued at $28,000. SkyView Investment Advisors LLC bought a new position in Upstart during the first quarter valued at $45,000. Money Concepts Capital Corp lifted its position in Upstart by 18.6% during the fourth quarter. Money Concepts Capital Corp now owns 3,570 shares of the company’s stock valued at $47,000 after purchasing an additional 560 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in shares of Upstart by 63.9% in the 4th quarter. Asset Management One Co. Ltd. now owns 3,774 shares of the company’s stock worth $50,000 after buying an additional 1,472 shares during the last quarter. 37.43% of the stock is owned by institutional investors.

Upstart Company Profile

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Upstart Holdings, Inc, together with its subsidiaries, operates a cloud-based artificial intelligence (AI) lending platform in the United States. Its platform aggregates consumer demand for loans and connects it to its network of the company's AI-enabled bank partners. The company was founded in 2012 and is headquartered in San Mateo, California.