BTIG Research Reiterates Buy Rating for Upstart (NASDAQ:UPST)

Upstart (NASDAQ:UPST)‘s stock had its “buy” rating reissued by research analysts at BTIG Research in a research report issued on Tuesday, Benzinga reports. They currently have a $43.00 target price on the stock. BTIG Research’s price target would indicate a potential upside of 68.10% from the company’s current price.

Several other analysts also recently weighed in on the stock. Weiss Ratings raised shares of Upstart from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, September 14th. Needham & Company LLC raised their price objective on Upstart from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Wall Street Zen upgraded Upstart from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Jefferies Financial Group reissued a “hold” rating and issued a $30.00 target price on shares of Upstart in a research note on Tuesday, June 9th. Finally, Piper Sandler increased their target price on Upstart from $46.00 to $51.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Eight analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $43.75.

Upstart Stock Performance

UPST stock opened at $25.58 on Tuesday. The company has a market capitalization of $2.49 billion, a PE ratio of 52.20, a price-to-earnings-growth ratio of 0.88 and a beta of 2.16. Upstart has a one year low of $23.97 and a one year high of $66.73. The company’s 50 day moving average price is $28.52 and its two-hundred day moving average price is $29.54.

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

Insider Activity

In other Upstart news, CFO Andrea Blankmeyer sold 3,000 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $29.33, for a total value of $87,990.00. Following the sale, the chief financial officer owned 152,208 shares of the company’s stock, valued at $4,464,260.64. This trade represents a 1.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Sanjay Datta sold 116,000 shares of the business’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $27.29, for a total transaction of $3,165,640.00. Following the completion of the transaction, the insider owned 476,578 shares in the company, valued at $13,005,813.62. The trade was a 19.58% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 148,652 shares of company stock worth $4,133,720. 17.29% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of UPST. Sequoia Financial Advisors LLC purchased a new stake in Upstart in the 2nd quarter worth approximately $254,000. Gemmer Asset Management LLC grew its position in shares of Upstart by 17.0% in the 2nd quarter. Gemmer Asset Management LLC now owns 29,707 shares of the company’s stock worth $1,053,000 after buying an additional 4,314 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of Upstart during the second quarter valued at approximately $248,000. Corient Private Wealth LP purchased a new position in shares of Upstart during the second quarter valued at approximately $2,074,000. Finally, Amundi bought a new position in shares of Upstart during the second quarter valued at approximately $348,000. Hedge funds and other institutional investors own 63.01% of the company’s stock.

Upstart Company Profile

Upstart Holdings, Inc is a financial technology company that operates an artificial intelligence-powered lending marketplace. Its platform connects consumers seeking credit with banks and credit unions, using alternative data and machine-learning models alongside traditional credit information to help lending partners evaluate applicants and originate loans.

The company’s offerings include technology for personal lending, auto lending and home equity lending. Upstart provides tools that support the application, underwriting and loan-origination process, while participating financial institutions generally fund and service the loans.