JMP Securities Reiterates “Market Perform” Rating for Upstart (NASDAQ:UPST)

Upstart (NASDAQ:UPST)‘s stock had its “market perform” rating reaffirmed by equities researchers at JMP Securities in a research note issued on Wednesday, Benzinga reports.

Other research analysts also recently issued research reports about the stock. Bank of America started coverage on shares of Upstart in a research report on Thursday, April 4th. They issued an “underperform” rating and a $22.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on shares of Upstart from $26.00 to $24.00 and set an “underweight” rating for the company in a research report on Wednesday, February 14th. Piper Sandler reiterated a “neutral” rating and issued a $28.00 price objective on shares of Upstart in a research report on Tuesday, March 19th. Finally, Mizuho upped their price objective on shares of Upstart from $19.00 to $23.00 and gave the stock an “underperform” rating in a research report on Thursday, January 18th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $26.00.

Upstart Price Performance

NASDAQ UPST opened at $22.31 on Wednesday. The company has a market capitalization of $1.96 billion, a PE ratio of -7.69 and a beta of 1.94. The company has a fifty day moving average of $25.86 and a 200 day moving average of $29.57. Upstart has a 1 year low of $11.93 and a 1 year high of $72.58.

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

Insider Buying and Selling

In related news, CTO Paul Gu sold 60,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $26.31, for a total transaction of $1,578,600.00. Following the completion of the sale, the chief technology officer now owns 893,596 shares of the company’s stock, valued at approximately $23,510,510.76. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CTO Paul Gu sold 60,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $26.31, for a total transaction of $1,578,600.00. Following the completion of the sale, the chief technology officer now owns 893,596 shares of the company’s stock, valued at approximately $23,510,510.76. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Sanjay Datta sold 1,000 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $32.62, for a total transaction of $32,620.00. Following the sale, the chief financial officer now directly owns 356,090 shares of the company’s stock, valued at approximately $11,615,655.80. The disclosure for this sale can be found here. Insiders sold a total of 69,777 shares of company stock worth $1,864,629 in the last 90 days. Insiders own 18.06% of the company’s stock.

Institutional Trading of Upstart

Several large investors have recently bought and sold shares of UPST. SkyView Investment Advisors LLC purchased a new stake in shares of Upstart in the 1st quarter valued at approximately $45,000. GAMMA Investing LLC purchased a new stake in shares of Upstart in the 4th quarter valued at approximately $25,000. IFP Advisors Inc grew its stake in shares of Upstart by 4,153.3% in the 2nd quarter. IFP Advisors Inc now owns 638 shares of the company’s stock valued at $26,000 after buying an additional 623 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in shares of Upstart in the 2nd quarter valued at approximately $26,000. Finally, Comerica Bank purchased a new stake in shares of Upstart in the 3rd quarter valued at approximately $27,000. 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.