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

Needham & Company LLC reaffirmed their hold rating on shares of Upstart (NASDAQ:UPST) in a report published on Thursday, Benzinga reports.

UPST has been the topic of several other research reports. Citigroup raised shares of Upstart from a sell rating to a neutral rating and lifted their price objective for the stock from $15.00 to $33.00 in a research note on Wednesday, August 7th. Mizuho raised shares of Upstart from an underperform rating to an outperform rating and lifted their price objective for the stock from $17.00 to $31.00 in a research note on Wednesday, July 31st. JMP Securities reaffirmed a market perform rating on shares of Upstart in a research note on Wednesday, April 17th. Piper Sandler lifted their target price on shares of Upstart from $28.00 to $31.00 and gave the stock a neutral rating in a research report on Wednesday, August 7th. Finally, Redburn Atlantic raised shares of Upstart from a sell rating to a neutral rating and lifted their target price for the stock from $22.50 to $25.50 in a research report on Tuesday, June 4th. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $24.50.

Upstart Trading Up 6.0 %

UPST stock opened at $36.25 on Thursday. Upstart has a 52 week low of $19.84 and a 52 week high of $49.62. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of -17.60 and a beta of 1.97. The firm’s 50-day moving average is $25.50 and its two-hundred day moving average is $25.94.

Upstart (NASDAQ:UPST) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.22. The company had revenue of $127.63 million for the quarter, compared to the consensus estimate of $124.55 million. Upstart had a negative net margin of 38.05% and a negative return on equity of 31.57%. Upstart’s revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.34) EPS. On average, equities research analysts predict that Upstart will post -2.7 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Scott Darling sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $25.44, for a total transaction of $76,320.00. Following the completion of the sale, the insider now directly owns 196,993 shares in the company, valued at $5,011,501.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CTO Paul Gu sold 80,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $29.52, for a total transaction of $2,361,600.00. Following the completion of the sale, the chief technology officer now directly owns 893,596 shares in the company, valued at $26,378,953.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Scott Darling sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $25.44, for a total transaction of $76,320.00. Following the sale, the insider now owns 196,993 shares of the company’s stock, valued at $5,011,501.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 171,610 shares of company stock worth $4,725,533. 18.06% of the stock is owned by company insiders.

Institutional Trading of Upstart

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Upstart by 1.6% in the first quarter. Vanguard Group Inc. now owns 7,128,975 shares of the company’s stock worth $191,698,000 after acquiring an additional 115,057 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Upstart by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 573,176 shares of the company’s stock worth $23,420,000 after acquiring an additional 17,463 shares in the last quarter. Norges Bank bought a new stake in Upstart in the fourth quarter worth approximately $19,017,000. International Assets Investment Management LLC grew its position in Upstart by 3,532.7% in the fourth quarter. International Assets Investment Management LLC now owns 329,740 shares of the company’s stock worth $13,473,000 after acquiring an additional 320,663 shares in the last quarter. Finally, Liontrust Investment Partners LLP grew its position in Upstart by 26.1% in the second quarter. Liontrust Investment Partners LLP now owns 290,000 shares of the company’s stock worth $6,841,000 after acquiring an additional 60,000 shares in the last quarter. 63.01% of the stock is owned by 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.