Upstart (NASDAQ:UPST) Earns “Overweight” Rating from Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Upstart (NASDAQ:UPST) in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a $105.00 price objective on the stock, up from their previous price objective of $85.00.

UPST has been the subject of several other research reports. Redburn Atlantic raised shares of Upstart from a “neutral” rating to a “buy” rating and increased their target price for the stock from $37.00 to $95.00 in a research note on Tuesday, December 3rd. Wedbush increased their price objective on shares of Upstart from $60.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Citigroup raised Upstart from a “neutral” rating to a “buy” rating and boosted their target price for the company from $56.00 to $87.00 in a research report on Friday, November 8th. Needham & Company LLC raised their price target on Upstart from $100.00 to $108.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, B. Riley raised Upstart from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $49.00 to $105.00 in a research note on Wednesday. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Upstart has a consensus rating of “Hold” and a consensus target price of $67.08.

Upstart Stock Up 31.8 %

UPST stock opened at $88.77 on Wednesday. Upstart has a one year low of $20.60 and a one year high of $90.44. The firm’s 50 day moving average price is $67.78 and its 200-day moving average price is $54.62.

Upstart (NASDAQ:UPST) last posted its earnings results on Tuesday, February 11th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. Upstart had a negative return on equity of 32.57% and a negative net margin of 30.15%. As a group, research analysts expect that Upstart will post -2.18 earnings per share for the current fiscal year.

Insider Activity at Upstart

In other Upstart news, CEO Dave Girouard sold 41,667 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $62.60, for a total value of $2,608,354.20. Following the sale, the chief executive officer now directly owns 57,138 shares of the company’s stock, valued at approximately $3,576,838.80. This represents a 42.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Natalia Mirgorodskaya sold 1,411 shares of Upstart stock in a transaction on Monday, November 25th. The stock was sold at an average price of $77.36, for a total transaction of $109,154.96. Following the sale, the insider now directly owns 18,596 shares of the company’s stock, valued at approximately $1,438,586.56. This trade represents a 7.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 347,868 shares of company stock worth $24,056,862. Company insiders own 18.06% of the company’s stock.

Hedge Funds Weigh In On Upstart

Several large investors have recently bought and sold shares of the business. Los Angeles Capital Management LLC purchased a new stake in Upstart during the 3rd quarter worth about $334,000. Tyler Stone Wealth Management raised its position in shares of Upstart by 94.1% during the 3rd quarter. Tyler Stone Wealth Management now owns 55,534 shares of the company’s stock worth $2,222,000 after acquiring an additional 26,917 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Upstart during the 3rd quarter worth about $939,000. Quadrature Capital Ltd purchased a new stake in Upstart during the third quarter worth approximately $676,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Upstart by 63.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock valued at $29,031,000 after purchasing an additional 282,481 shares in the last quarter. 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.