The Goldman Sachs Group Issues Positive Forecast for Upstart (NASDAQ:UPST) Stock Price

Upstart (NASDAQ:UPST) had its price objective boosted by investment analysts at The Goldman Sachs Group from $15.00 to $16.50 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “sell” rating on the stock. The Goldman Sachs Group’s price target points to a potential downside of 64.98% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Morgan Stanley dropped their target price on shares of Upstart from $70.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Bank of America upgraded Upstart from an “underperform” rating to a “neutral” rating and set a $53.00 price objective on the stock in a report on Tuesday, April 29th. Piper Sandler lowered their target price on Upstart from $105.00 to $69.00 and set an “overweight” rating for the company in a report on Wednesday. B. Riley upgraded Upstart from a “neutral” rating to a “buy” rating and raised their price target for the company from $49.00 to $105.00 in a research note on Wednesday, February 12th. Finally, Barclays lowered their price objective on shares of Upstart from $93.00 to $42.00 and set an “equal weight” rating for the company in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $63.42.

Upstart Stock Performance

Shares of NASDAQ UPST opened at $47.12 on Thursday. Upstart has a fifty-two week low of $20.60 and a fifty-two week high of $96.43. The company has a market cap of $4.48 billion, a price-to-earnings ratio of -32.27 and a beta of 2.39. The business’s 50 day moving average price is $46.29 and its 200-day moving average price is $60.27.

Upstart (NASDAQ:UPST) last released its earnings results on Tuesday, May 6th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.11. The business had revenue of $213.37 million during the quarter, compared to the consensus estimate of $201.08 million. Upstart had a negative return on equity of 25.87% and a negative net margin of 20.20%. The business’s revenue for the quarter was up 67.0% compared to the same quarter last year. During the same period last year, the company earned ($0.31) earnings per share. Sell-side analysts predict that Upstart will post -0.03 earnings per share for the current year.

Insider Activity at Upstart

In related news, CTO Paul Gu sold 12,007 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $79.02, for a total transaction of $948,793.14. Following the transaction, the chief technology officer now directly owns 1,006,599 shares of the company’s stock, valued at $79,541,452.98. This represents a 1.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Natalia Mirgorodskaya sold 794 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $79.02, for a total value of $62,741.88. Following the completion of the sale, the insider now directly owns 21,985 shares of the company’s stock, valued at approximately $1,737,254.70. This represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,395 shares of company stock valued at $2,638,828 over the last 90 days. Insiders own 16.67% of the company’s stock.

Hedge Funds Weigh In On Upstart

Hedge funds and other institutional investors have recently modified their holdings of the stock. Two Sigma Advisers LP grew its holdings in shares of Upstart by 190.2% during the fourth quarter. Two Sigma Advisers LP now owns 1,709,300 shares of the company’s stock valued at $105,242,000 after buying an additional 1,120,300 shares during the last quarter. Marshall Wace LLP grew its stake in Upstart by 300.2% during the 4th quarter. Marshall Wace LLP now owns 1,061,512 shares of the company’s stock valued at $65,357,000 after purchasing an additional 796,252 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Upstart in the fourth quarter valued at about $43,697,000. Fred Alger Management LLC raised its stake in shares of Upstart by 53.6% in the fourth quarter. Fred Alger Management LLC now owns 1,915,121 shares of the company’s stock worth $117,914,000 after purchasing an additional 668,282 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Upstart by 886.0% in the fourth quarter. Invesco Ltd. now owns 709,684 shares of the company’s stock worth $43,695,000 after purchasing an additional 637,706 shares during the last quarter. 63.01% of the stock is 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.