Upstart’s (UPST) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Upstart (NASDAQ:UPST) in a report released on Wednesday, Benzinga reports.

UPST has been the subject of a number of other reports. JMP Securities reaffirmed a market perform rating on shares of Upstart in a research report on Wednesday, April 17th. Mizuho raised their price target on Upstart from $19.00 to $23.00 and gave the company an underperform rating in a report on Thursday, January 18th. Bank of America initiated coverage on shares of Upstart in a report on Thursday, April 4th. They issued an underperform rating and a $22.00 price objective on the stock. JPMorgan Chase & Co. cut their target price on shares of Upstart from $26.00 to $24.00 and set an underweight rating for the company in a research note on Wednesday, February 14th. Finally, Piper Sandler reaffirmed a neutral rating and set a $28.00 target price on shares of Upstart in a report on Tuesday, March 19th. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Upstart currently has a consensus rating of Hold and an average target price of $26.00.

Upstart Trading Down 5.6 %

Shares of UPST opened at $23.11 on Wednesday. The company has a market cap of $2.03 billion, a price-to-earnings ratio of -7.97 and a beta of 2.01. The company’s fifty day simple moving average is $24.74 and its 200 day simple moving average is $29.20. Upstart has a 1-year low of $13.00 and a 1-year high of $72.58.

Upstart (NASDAQ:UPST) last issued 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. Upstart had a negative net margin of 46.76% and a negative return on equity of 35.47%. The company had revenue of $140.31 million for the quarter, compared to analysts’ expectations of $135.28 million. As a group, research analysts forecast that Upstart will post -2.19 earnings per share for the current year.

Insider Buying and Selling

In other Upstart news, CTO Paul Gu sold 60,000 shares of the business’s stock in a transaction dated 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 sale, the chief technology officer now owns 893,596 shares of the company’s stock, valued at approximately $23,510,510.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Upstart news, CTO Paul Gu sold 60,000 shares of Upstart stock in a transaction on Monday, April 1st. The stock was 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 directly owns 893,596 shares of the company’s stock, valued at approximately $23,510,510.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sanjay Datta sold 1,000 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $33.84, for a total value of $33,840.00. Following the sale, the chief financial officer now owns 354,090 shares of the company’s stock, valued at $11,982,405.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,419 shares of company stock valued at $1,750,272. 18.06% of the stock is owned by company insiders.

Institutional Investors Weigh In On Upstart

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cassady Schiller Wealth Management LLC lifted its position in shares of Upstart by 23.7% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 2,748 shares of the company’s stock worth $112,000 after buying an additional 527 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Upstart by 1.8% in the third quarter. New York State Common Retirement Fund now owns 30,588 shares of the company’s stock worth $873,000 after acquiring an additional 535 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of Upstart in the 4th quarter valued at approximately $25,000. Stratos Wealth Partners LTD. grew its holdings in shares of Upstart by 5.5% during the 4th quarter. Stratos Wealth Partners LTD. now owns 11,805 shares of the company’s stock valued at $482,000 after purchasing an additional 619 shares during the last quarter. Finally, Gemmer Asset Management LLC lifted its stake in Upstart by 8.2% in the 1st quarter. Gemmer Asset Management LLC now owns 8,792 shares of the company’s stock valued at $236,000 after purchasing an additional 666 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors.

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.