Upstart (NASDAQ:UPST) Price Target Raised to $15.00 at The Goldman Sachs Group

Upstart (NASDAQ:UPST) had its price target boosted by The Goldman Sachs Group from $13.50 to $15.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a sell rating on the stock.

UPST has been the subject of several other research reports. Redburn Atlantic upgraded shares of Upstart from a “neutral” rating to a “buy” rating and upped their target price for the company from $37.00 to $95.00 in a research report on Tuesday, December 3rd. B. Riley upgraded Upstart from a “neutral” rating to a “buy” rating and upped their price objective for the company from $49.00 to $105.00 in a report on Wednesday. BTIG Research raised Upstart from a “sell” rating to a “neutral” rating in a research note on Monday, November 11th. Bank of America boosted their target price on Upstart from $33.00 to $39.00 and gave the stock an “underperform” rating in a research report on Wednesday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $105.00 price target (up from $85.00) on shares of Upstart in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Upstart has an average rating of “Hold” and a consensus target price of $67.08.

Upstart Trading Up 31.8 %

Upstart stock opened at $88.77 on Wednesday. Upstart has a 12-month low of $20.60 and a 12-month high of $90.44. The business’s 50-day simple moving average is $67.78 and its 200 day simple moving average is $54.62.

Upstart (NASDAQ:UPST) last issued its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.02. Upstart had a negative net margin of 30.15% and a negative return on equity of 32.57%. Equities research analysts forecast that Upstart will post -2.18 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Dave Girouard sold 41,667 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $65.41, for a total transaction of $2,725,438.47. Following the sale, the chief executive officer now directly owns 61,512 shares in the company, valued at $4,023,499.92. This trade represents a 40.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Paul Gu sold 65,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $66.58, for a total transaction of $4,327,700.00. Following the completion of the transaction, the chief technology officer now directly owns 878,565 shares of the company’s stock, valued at approximately $58,494,857.70. The trade was a 6.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 347,868 shares of company stock worth $24,056,862. Company insiders own 18.06% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Upstart by 5.0% in the 4th quarter. Vanguard Group Inc. now owns 7,793,452 shares of the company’s stock valued at $479,843,000 after acquiring an additional 369,640 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Upstart by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 1,846,438 shares of the company’s stock valued at $113,711,000 after purchasing an additional 29,664 shares during the last quarter. Fred Alger Management LLC lifted its position in shares of Upstart by 153.2% in the third quarter. Fred Alger Management LLC now owns 1,246,839 shares of the company’s stock worth $49,886,000 after purchasing an additional 754,416 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Upstart by 63.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock worth $29,031,000 after purchasing an additional 282,481 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Upstart by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 657,118 shares of the company’s stock worth $40,459,000 after purchasing an additional 14,242 shares during the last quarter. 63.01% of the stock is currently 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.