Upstart (NASDAQ:UPST) Price Target Cut to $65.00 by Analysts at JPMorgan Chase & Co.

Upstart (NASDAQ:UPST) had its price target decreased by JPMorgan Chase & Co. from $88.00 to $65.00 in a research report released on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other research analysts have also commented on UPST. Needham & Company LLC cut their price target on Upstart from $82.00 to $56.00 and set a “buy” rating on the stock in a research report on Wednesday. BTIG Research reaffirmed a “neutral” rating on shares of Upstart in a research report on Wednesday. The Goldman Sachs Group cut their price target on Upstart from $78.00 to $54.00 and set a “sell” rating on the stock in a research report on Monday, October 13th. Piper Sandler decreased their price target on shares of Upstart from $80.00 to $56.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Stephens decreased their price target on shares of Upstart from $55.00 to $40.00 and set an “equal weight” rating for the company in a research note on Wednesday. Six analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $65.75.

Upstart Price Performance

NASDAQ UPST opened at $41.75 on Wednesday. Upstart has a 1 year low of $31.40 and a 1 year high of $96.43. The company has a market capitalization of $4.02 billion, a PE ratio of 189.78 and a beta of 2.26. The company has a fifty day moving average of $57.06 and a two-hundred day moving average of $59.92.

Upstart (NASDAQ:UPST) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.09. Upstart had a net margin of 3.33% and a return on equity of 3.77%. The company had revenue of $257.29 million during the quarter, compared to the consensus estimate of $225.35 million. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. Upstart’s revenue for the quarter was up 101.6% on a year-over-year basis. On average, research analysts expect that Upstart will post -0.03 earnings per share for the current year.

Insider Activity

In other news, Director Kerry Whorton Cooper sold 500 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $69.21, for a total transaction of $34,605.00. Following the transaction, the director directly owned 25,434 shares in the company, valued at $1,760,287.14. The trade was a 1.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Sanjay Datta sold 13,473 shares of the business’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $61.12, for a total transaction of $823,469.76. Following the transaction, the chief financial officer owned 297,904 shares in the company, valued at approximately $18,207,892.48. This trade represents a 4.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 106,214 shares of company stock valued at $6,803,558. 16.67% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in UPST. Vanguard Group Inc. lifted its holdings in shares of Upstart by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 8,014,656 shares of the company’s stock valued at $368,915,000 after buying an additional 221,204 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Upstart by 3.8% in the 2nd quarter. Geode Capital Management LLC now owns 2,009,116 shares of the company’s stock valued at $129,965,000 after buying an additional 73,582 shares during the period. Invesco Ltd. lifted its holdings in shares of Upstart by 79.0% in the 1st quarter. Invesco Ltd. now owns 1,270,352 shares of the company’s stock valued at $58,474,000 after buying an additional 560,668 shares during the period. Driehaus Capital Management LLC lifted its holdings in shares of Upstart by 71.5% in the 1st quarter. Driehaus Capital Management LLC now owns 1,215,237 shares of the company’s stock valued at $55,937,000 after buying an additional 506,787 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Upstart by 3.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,197,966 shares of the company’s stock valued at $55,143,000 after buying an additional 44,635 shares during the period. 63.01% of the stock is currently owned by institutional investors and hedge funds.

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.