Upstart (NASDAQ:UPST) Hits New 12-Month Low – What’s Next?

Upstart Holdings, Inc. (NASDAQ:UPST) shares reached a new 52-week low on Monday. The company traded as low as $22.10 and last traded at $22.1390, with a volume of 2,950,966 shares traded. The stock had previously closed at $23.02.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on UPST shares. Wall Street Zen upgraded Upstart from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings cut Upstart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, September 28th. The Goldman Sachs Group decreased their price target on Upstart from $39.00 to $28.00 and set a “neutral” rating for the company in a report on Tuesday, October 13th. BTIG Research reissued a “buy” rating and issued a $43.00 price target on shares of Upstart in a research report on Tuesday, September 22nd. Finally, Needham & Company LLC restated a “buy” rating and set a $42.00 price objective on shares of Upstart in a research note on Tuesday, October 6th. Seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $42.94.

Upstart Stock Performance

The stock has a market cap of $2.09 billion, a P/E ratio of 44.05, a P/E/G ratio of 0.81 and a beta of 2.48. The business has a 50 day simple moving average of $25.33 and a 200-day simple moving average of $30.02.

Upstart (NASDAQ:UPST) last issued its quarterly earnings results 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 company had revenue of $364.71 million during the quarter, compared to analysts’ expectations of $354.74 million. During the same period last year, the firm posted $0.36 earnings per share. Upstart’s quarterly revenue was up 41.9% compared to the same quarter last year. On average, sell-side analysts predict that Upstart Holdings, Inc. will post 0.72 earnings per share for the current fiscal year.

Insider Transactions at Upstart

In other news, insider Sanjay Datta sold 116,000 shares of the stock in a transaction 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 transaction, the insider owned 476,578 shares in the company, valued at approximately $13,005,813.62. This represents a 19.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Natalia Mirgorodskaya sold 913 shares of Upstart stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $30.03, for a total value of $27,417.39. Following the completion of the sale, the insider directly 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 position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 148,652 shares of company stock valued at $4,133,720. Corporate insiders own 17.29% of the company’s stock.

Hedge Funds Weigh In On Upstart

Hedge funds have recently made changes to their positions in the stock. Asset Management One Co. Ltd. lifted its holdings in Upstart by 33.2% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,790 shares of the company’s stock worth $41,000 after purchasing an additional 446 shares in the last quarter. Apollon Wealth Management LLC grew its holdings in Upstart by 3.2% during the 3rd quarter. Apollon Wealth Management LLC now owns 32,995 shares of the company’s stock valued at $759,000 after buying an additional 1,027 shares in the last quarter. Sterling Capital Management LLC increased its position in shares of Upstart by 838.2% during the third quarter. Sterling Capital Management LLC now owns 2,824 shares of the company’s stock valued at $65,000 after buying an additional 2,523 shares during the period. Sepio Capital LP increased its position in shares of Upstart by 4.3% during the third quarter. Sepio Capital LP now owns 24,300 shares of the company’s stock valued at $559,000 after buying an additional 1,000 shares during the period. Finally, SBI Securities Co. Ltd. lifted its holdings in shares of Upstart by 654.0% in the third quarter. SBI Securities Co. Ltd. now owns 126,246 shares of the company’s stock worth $2,902,000 after buying an additional 109,502 shares in the last quarter. 63.01% of the stock is currently owned by hedge funds and other institutional investors.

Upstart Company Profile

Upstart Holdings, Inc (NASDAQ: UPST) operates an artificial intelligence-powered lending marketplace. Its platform connects consumers seeking credit with banks and credit unions, using data-driven underwriting models designed to evaluate applicants beyond traditional credit-score-based methods.

The company provides technology for several lending categories, including personal loans, automotive retail and refinance lending, home equity lines of credit, and small-dollar lending. Upstart’s platform supports financial institutions with application processing, risk assessment, loan origination, and related automation, while offering consumers a digital borrowing experience.

Founded in 2012, Upstart is headquartered in San Mateo, California, and primarily serves the United States.