Upstart (NASDAQ:UPST) Stock Gets Price Target Reduction from The Goldman Sachs Group

Upstart (NASDAQ:UPST) had its target price reduced by The Goldman Sachs Group from $39.00 to $28.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 17.89% from the stock’s previous close.

Other analysts have also issued reports about the company. Wall Street Zen raised Upstart from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Citigroup cut their price objective on Upstart from $80.00 to $61.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd. Loop Capital began coverage on Upstart in a research note on Tuesday, September 8th. They set a “hold” rating and a $34.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and set a $42.00 target price on shares of Upstart in a research report on Tuesday, October 6th. Finally, Weiss Ratings cut shares of Upstart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, September 28th. Eight equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $43.06.

Upstart Stock Performance

UPST stock opened at $23.75 on Tuesday. Upstart has a one year low of $22.56 and a one year high of $55.22. The firm has a market cap of $2.31 billion, a PE ratio of 48.47, a P/E/G ratio of 0.85 and a beta of 2.43. The firm’s fifty day moving average is $27.06 and its 200 day moving average is $29.18.

Upstart (NASDAQ:UPST) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.02). The business had revenue of $364.71 million during the quarter, compared to analysts’ expectations of $354.74 million. Upstart had a net margin of 4.84% and a return on equity of 7.13%. Upstart’s revenue for the quarter was up 41.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 EPS. Research analysts predict that Upstart will post 0.72 earnings per share for the current fiscal year.

Insider Activity at Upstart

In other Upstart news, insider Sanjay Datta sold 116,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $27.29, for a total transaction of $3,165,640.00. Following the completion of the sale, the insider directly owned 476,578 shares in the company, valued at approximately $13,005,813.62. The trade was a 19.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Natalia Mirgorodskaya sold 913 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $30.03, for a total value of $27,417.39. Following the sale, the insider owned 35,875 shares of the company’s stock, valued at approximately $1,077,326.25. This trade represents a 2.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 148,652 shares of company stock worth $4,133,720 in the last quarter. Company insiders own 17.29% of the company’s stock.

Institutional Trading of Upstart

A number of institutional investors have recently made changes to their positions in UPST. Farther Finance Advisors LLC raised its stake in Upstart by 25.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,307 shares of the company’s stock valued at $99,000 after purchasing an additional 881 shares during the last quarter. Greenwich Wealth Management LLC purchased a new position in Upstart in the 2nd quarter valued at $322,000. Sequoia Financial Advisors LLC acquired a new stake in Upstart during the 2nd quarter worth $254,000. Gemmer Asset Management LLC boosted its stake in Upstart by 17.0% during the 2nd quarter. Gemmer Asset Management LLC now owns 29,707 shares of the company’s stock worth $1,053,000 after purchasing an additional 4,314 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of Upstart during the second quarter worth $248,000. 63.01% of the stock is owned by institutional investors and hedge funds.

About Upstart

Upstart Holdings, Inc (NASDAQ: UPST) operates an artificial intelligence-powered lending platform that connects consumers seeking credit with banks and credit unions. Its technology is designed to evaluate a broader range of borrower information than traditional credit-scoring methods, with the goal of helping lending partners assess risk and automate portions of the application and underwriting process.

The company’s platform supports lending products including personal loans, automotive loans and refinancing, and home equity lines of credit.