Upstart (NASDAQ:UPST) Trading Down 4.3%


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Upstart Holdings, Inc. (NASDAQ:UPST)’s share price was down 4.3% during trading on Thursday . The stock traded as low as $119.32 and last traded at $120.63. Approximately 44,259 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 2,273,319 shares. The stock had previously closed at $126.07.

Several equities analysts recently commented on UPST shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell started coverage on shares of Upstart in a research report on Monday, January 11th. They issued a “neutral” rating and a $60.00 price objective for the company. Smith Barney Citigroup initiated coverage on shares of Upstart in a research report on Monday, January 11th. They issued a “neutral” rating and a $60.00 price objective for the company. Barclays raised their price target on shares of Upstart from $58.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Monday, March 29th. JMP Securities raised shares of Upstart from a “market perform” rating to a “market outperform” rating and set a $111.00 price target for the company in a research report on Wednesday, March 24th. Finally, Bank of America raised shares of Upstart from a “neutral” rating to a “buy” rating and raised their price target for the stock from $57.00 to $135.00 in a research report on Thursday, March 18th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $85.29.

The firm has a 50-day simple moving average of $93.56.

Upstart (NASDAQ:UPST) last released its quarterly earnings results on Wednesday, March 17th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.05. The company had revenue of $86.70 million for the quarter, compared to the consensus estimate of $73.50 million. The company’s revenue was up 41.9% on a year-over-year basis. On average, sell-side analysts expect that Upstart Holdings, Inc. will post 0.05 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of UPST. Morgan Stanley acquired a new position in shares of Upstart during the 4th quarter worth about $102,300,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Upstart during the 4th quarter worth about $74,253,000. Founders Fund IV Management LLC acquired a new position in shares of Upstart during the 4th quarter worth about $20,922,000. Washington Harbour Partners LP acquired a new position in shares of Upstart during the 4th quarter worth about $11,206,000. Finally, BlackRock Inc. acquired a new position in shares of Upstart during the 4th quarter worth about $10,463,000.

Upstart Company Profile (NASDAQ:UPST)

Upstart Holdings, Inc operates a cloud- based artificial intelligence (AI) lending platform. The company's platform aggregates consumer demand for loans and connects it to its network of the company's AI- enabled bank partners. Its platform connects consumers, banks, and institutional investors through a shared AI lending platform.

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