Upstart (NASDAQ:UPST) Stock Gets Price Target Trim from Citizens Jmp

Upstart (NASDAQ:UPST) had its price objective decreased by Citizens Jmp from $20.00 to $18.00 in a research report released on Thursday,Benzinga reports. Citizens Jmp currently has a market underperform rating on the stock.

A number of other equities analysts have also weighed in on the company. Loop Capital initiated coverage on Upstart in a research note on Tuesday, September 8th. They issued a “hold” rating and a $34.00 target price on the stock. The Goldman Sachs Group cut their price target on shares of Upstart from $39.00 to $28.00 and set a “neutral” rating for the company in a research note on Tuesday, October 13th. Wall Street Zen raised shares of Upstart from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Piper Sandler increased their price target on shares of Upstart from $46.00 to $51.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Finally, Weiss Ratings cut shares of Upstart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, September 28th. 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 stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $42.94.

Upstart Trading Down 4.8%

Shares of UPST stock opened at $23.56 on Thursday. The stock has a market capitalization of $2.29 billion, a P/E ratio of 48.08, a PEG ratio of 0.83 and a beta of 2.43. Upstart has a 12 month low of $22.21 and a 12 month high of $55.22. The firm’s 50 day moving average is $26.53 and its 200 day moving average is $29.11.

Upstart (NASDAQ:UPST) last posted its 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). The firm had revenue of $364.71 million for the quarter, compared to the consensus estimate of $354.74 million. Upstart had a return on equity of 7.13% and a net margin of 4.84%. The business’s revenue was up 41.9% on a year-over-year basis. During the same period last year, the company posted $0.36 EPS. On average, equities analysts predict that Upstart will post 0.72 EPS for the current year.

Insider Transactions at Upstart

In other Upstart news, CFO Andrea Blankmeyer sold 3,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $29.33, for a total transaction of $87,990.00. Following the transaction, the chief financial officer directly owned 152,208 shares in the company, valued at $4,464,260.64. This trade represents a 1.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 Natalia Mirgorodskaya sold 913 shares of Upstart stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $30.03, for a total transaction of $27,417.39. Following the transaction, the insider directly owned 35,875 shares in the company, valued at $1,077,326.25. This trade represents a 2.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 148,652 shares of company stock worth $4,133,720 in the last three months. Corporate insiders own 17.29% of the company’s stock.

Hedge Funds Weigh In On Upstart

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vontobel Holding Ltd. grew its stake in shares of Upstart by 91.1% during the third quarter. Vontobel Holding Ltd. now owns 17,469 shares of the company’s stock worth $402,000 after acquiring an additional 8,329 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Upstart by 25.7% in the third quarter. Farther Finance Advisors LLC now owns 4,307 shares of the company’s stock valued at $99,000 after acquiring an additional 881 shares during the period. Greenwich Wealth Management LLC purchased a new stake in Upstart during the second quarter worth $322,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Upstart during the 2nd quarter worth about $254,000. Finally, Gemmer Asset Management LLC grew its holdings in Upstart by 17.0% in the second quarter. Gemmer Asset Management LLC now owns 29,707 shares of the company’s stock valued at $1,053,000 after purchasing an additional 4,314 shares during the period. Institutional investors own 63.01% of the company’s stock.

About Upstart

Upstart Holdings, Inc (NASDAQ: UPST) operates an artificial intelligence-powered lending platform that connects consumers seeking credit with banks and credit unions. Its technology is designed to evaluate a broader range of borrower information than traditional credit-scoring methods, with the goal of helping lending partners assess risk and automate portions of the application and underwriting process.

The company’s platform supports lending products including personal loans, automotive loans and refinancing, and home equity lines of credit.