Upstart (NASDAQ:UPST) Given New $17.00 Price Target at Mizuho

Upstart (NASDAQ:UPST) had its target price dropped by research analysts at Mizuho from $23.00 to $17.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “underperform” rating on the stock. Mizuho’s target price would indicate a potential downside of 26.44% from the stock’s current price.

UPST has been the topic of several other reports. JMP Securities reissued a “market perform” rating on shares of Upstart in a report on Wednesday, April 17th. Wedbush reiterated an “underperform” rating and set a $10.00 price objective on shares of Upstart in a research note on Wednesday. Needham & Company LLC reissued a “hold” rating on shares of Upstart in a report on Wednesday. Piper Sandler reaffirmed a “neutral” rating and set a $28.00 price target on shares of Upstart in a report on Tuesday, March 19th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Upstart from $26.00 to $24.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 14th. Five analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $25.40.

Upstart Stock Performance

UPST stock opened at $23.11 on Thursday. Upstart has a 52 week low of $13.00 and a 52 week high of $72.58. The company’s 50-day simple moving average is $24.69 and its 200 day simple moving average is $29.16. The company has a market capitalization of $2.03 billion, a PE ratio of -7.97 and a beta of 2.01.

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

Insiders Place Their Bets

In other news, CTO Paul Gu sold 60,000 shares of the 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 in the company, valued at approximately $23,510,510.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CTO Paul Gu sold 60,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $26.31, for a total transaction 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 filing with the SEC, which can be accessed through the SEC website. Also, insider Natalia Mirgorodskaya sold 2,500 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $25.48, for a total value of $63,700.00. Following the completion of the sale, the insider now directly owns 29,165 shares of the company’s stock, valued at approximately $743,124.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,419 shares of company stock valued at $1,750,272. 18.06% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Upstart

Several large investors have recently modified their holdings of UPST. Vanguard Group Inc. grew its holdings in Upstart by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 7,013,918 shares of the company’s stock worth $286,589,000 after acquiring an additional 157,719 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in Upstart by 0.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,018,354 shares of the company’s stock valued at $41,610,000 after buying an additional 5,875 shares during the period. Northern Trust Corp boosted its stake in Upstart by 1.1% during the third quarter. Northern Trust Corp now owns 718,745 shares of the company’s stock worth $20,513,000 after acquiring an additional 8,091 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Upstart by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 573,176 shares of the company’s stock worth $23,420,000 after purchasing an additional 17,463 shares in the last quarter. Finally, Fred Alger Management LLC grew its stake in Upstart by 121.9% in the third quarter. Fred Alger Management LLC now owns 508,050 shares of the company’s stock valued at $14,500,000 after acquiring an additional 279,110 shares during the period. 63.01% of the stock is currently owned by institutional investors and hedge funds.

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.