Upstart (NASDAQ:UPST) Price Target Raised to $108.00

Upstart (NASDAQ:UPST) had its price objective boosted by equities research analysts at Citigroup from $87.00 to $108.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price would suggest a potential upside of 23.76% from the company’s current price.

Several other research analysts also recently commented on UPST. B. Riley raised Upstart from a “neutral” rating to a “buy” rating and boosted their target price for the company from $49.00 to $105.00 in a research note on Wednesday. BTIG Research upgraded Upstart from a “sell” rating to a “neutral” rating in a research report on Monday, November 11th. Redburn Atlantic upgraded shares of 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 report on Tuesday, December 3rd. Bank of America upped their price target on shares of Upstart from $33.00 to $39.00 and gave the company an “underperform” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. raised shares of Upstart from an “underweight” rating to a “neutral” rating and increased their price target for the company from $57.00 to $79.00 in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Upstart presently has a consensus rating of “Hold” and an average target price of $68.83.

Upstart Stock Down 1.7 %

UPST traded down $1.50 during trading on Thursday, reaching $87.27. 11,919,336 shares of the company were exchanged, compared to its average volume of 5,759,521. Upstart has a 12-month low of $20.60 and a 12-month high of $96.43. The company has a market cap of $7.96 billion, a price-to-earnings ratio of -45.30 and a beta of 2.25. The company’s 50-day moving average is $67.78 and its two-hundred day moving average is $54.62.

Upstart (NASDAQ:UPST) last posted its earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts forecast that Upstart will post -2.18 earnings per share for the current year.

Insider Transactions at Upstart

In other news, CEO Dave Girouard sold 41,667 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 61,512 shares of the company’s stock, valued at $4,023,499.92. This represents a 40.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Paul Gu sold 4,019 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $75.00, for a total transaction of $301,425.00. Following the sale, the chief technology officer now owns 863,065 shares of the company’s stock, valued at $64,729,875. This trade represents a 0.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 347,868 shares of company stock worth $24,056,862 over the last three months. 18.06% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in UPST. Fred Alger Management LLC lifted its stake in shares of Upstart by 153.2% during the 3rd quarter. Fred Alger Management LLC now owns 1,246,839 shares of the company’s stock valued at $49,886,000 after buying an additional 754,416 shares in the last quarter. Invesco Ltd. lifted its position in shares of Upstart by 886.0% in the fourth quarter. Invesco Ltd. now owns 709,684 shares of the company’s stock valued at $43,695,000 after acquiring an additional 637,706 shares in the last quarter. Two Sigma Advisers LP boosted its stake in shares of Upstart by 689.5% in the third quarter. Two Sigma Advisers LP now owns 589,000 shares of the company’s stock worth $23,566,000 after acquiring an additional 514,400 shares during the period. Norges Bank purchased a new stake in shares of Upstart during the fourth quarter worth about $25,158,000. Finally, Vanguard Group Inc. grew its position in shares of Upstart by 5.0% during the fourth quarter. Vanguard Group Inc. now owns 7,793,452 shares of the company’s stock worth $479,843,000 after purchasing an additional 369,640 shares in the last quarter. Institutional investors own 63.01% of the company’s stock.

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.