Upstart (NASDAQ:UPST) Given New $75.00 Price Target at Wedbush

Upstart (NASDAQ:UPST) had its price objective upped by analysts at Wedbush from $60.00 to $75.00 in a note issued to investors on Monday. The brokerage presently has a “neutral” rating on the stock. Wedbush’s price objective points to a potential upside of 8.89% from the company’s previous close.

Several other equities analysts also recently commented on the stock. BTIG Research raised shares of Upstart from a “sell” rating to a “neutral” rating in a research note on Monday, November 11th. Mizuho raised their price objective on Upstart from $33.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Needham & Company LLC reiterated a “hold” rating on shares of Upstart in a research report on Thursday, August 8th. Citigroup upgraded Upstart from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $56.00 to $87.00 in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. lowered shares of Upstart from a “neutral” rating to an “underweight” rating and raised their price objective for the company from $45.00 to $57.00 in a report on Monday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $49.83.

Upstart Stock Performance

Shares of NASDAQ UPST traded down $9.91 during trading hours on Monday, hitting $68.88. 4,118,967 shares of the stock were exchanged, compared to its average volume of 6,851,534. The company’s fifty day simple moving average is $55.46 and its two-hundred day simple moving average is $38.68. The company has a market cap of $6.28 billion, a PE ratio of -35.69 and a beta of 1.97. Upstart has a 1-year low of $20.60 and a 1-year high of $86.07.

Insider Buying and Selling

In other Upstart news, CFO Sanjay Datta sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $34.42, for a total transaction of $51,630.00. Following the completion of the sale, the chief financial officer now directly owns 343,093 shares of the company’s stock, valued at approximately $11,809,261.06. The trade was a 0.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chief Legal Officer Scott Darling sold 7,190 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $39.15, for a total value of $281,464.77. Following the completion of the sale, the insider now directly owns 176,870 shares of the company’s stock, valued at approximately $6,923,876.83. This trade represents a 3.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 502,939 shares of company stock worth $28,887,725 in the last ninety days. Corporate insiders own 18.06% of the company’s stock.

Hedge Funds Weigh In On Upstart

Several hedge funds have recently modified their holdings of UPST. Anfield Capital Management LLC purchased a new position in Upstart in the second quarter valued at about $33,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Upstart in the third quarter valued at approximately $35,000. BNP Paribas purchased a new position in Upstart in the third quarter valued at approximately $37,000. Blue Trust Inc. grew its holdings in Upstart by 125.3% during the third quarter. Blue Trust Inc. now owns 989 shares of the company’s stock valued at $40,000 after purchasing an additional 550 shares during the period. Finally, Hollencrest Capital Management purchased a new stake in Upstart in the third quarter worth $40,000. Institutional investors own 63.01% of the company’s stock.

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.