Upstart (NASDAQ:UPST) Upgraded at JPMorgan Chase & Co.

Upstart (NASDAQ:UPST) was upgraded by analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a report released on Wednesday,Briefing.com Automated Import reports. The brokerage presently has a $79.00 price objective on the stock, up from their previous price objective of $57.00. JPMorgan Chase & Co.‘s price target indicates a potential upside of 17.32% from the stock’s previous close.

Several other equities research analysts have also weighed in on the company. Wedbush raised their target price on Upstart from $60.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Citigroup raised Upstart from a “neutral” rating to a “buy” rating and raised their target price for the stock from $56.00 to $87.00 in a research report on Friday, November 8th. Needham & Company LLC raised Upstart from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Friday, December 13th. Redburn Atlantic raised Upstart from a “neutral” rating to a “buy” rating and raised their target price for the stock from $37.00 to $95.00 in a research report on Tuesday, December 3rd. Finally, B. Riley raised Upstart from a “neutral” rating to a “buy” rating and raised their target price for the stock from $49.00 to $105.00 in a research report on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $67.73.

Upstart Price Performance

UPST stock opened at $67.34 on Wednesday. The firm has a market capitalization of $6.14 billion, a P/E ratio of -34.89 and a beta of 2.25. The business’s 50-day moving average is $67.49 and its two-hundred day moving average is $54.38. Upstart has a 1 year low of $20.60 and a 1 year high of $88.95.

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

Insider Buying and Selling at Upstart

In related news, Director Kerry Whorton Cooper sold 500 shares of Upstart stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $74.59, for a total value of $37,295.00. Following the sale, the director now directly owns 17,961 shares in the company, valued at $1,339,710.99. The trade was a 2.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Dave Girouard sold 41,667 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $62.60, for a total value of $2,608,354.20. Following the sale, the chief executive officer now owns 57,138 shares in the company, valued at approximately $3,576,838.80. The trade was a 42.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 347,868 shares of company stock worth $24,056,862. 18.06% of the stock is currently owned by insiders.

Institutional Trading of Upstart

Institutional investors have recently bought and sold shares of the company. Rakuten Securities Inc. acquired a new position in shares of Upstart in the fourth quarter worth $31,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Upstart in the third quarter worth $35,000. BNP Paribas acquired a new position in shares of Upstart in the third quarter worth $37,000. Blue Trust Inc. raised its holdings in shares of Upstart by 125.3% in the third quarter. Blue Trust Inc. now owns 989 shares of the company’s stock worth $40,000 after acquiring an additional 550 shares during the last quarter. Finally, Hollencrest Capital Management acquired a new position in Upstart in the third quarter valued at $40,000. 63.01% of the stock is currently owned by hedge funds and other 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.