Mizuho Increases Upstart (NASDAQ:UPST) Price Target to $48.00

Upstart (NASDAQ:UPST) had its price objective increased by Mizuho from $33.00 to $48.00 in a research report released on Friday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other analysts have also recently weighed in on UPST. Redburn Atlantic raised shares of Upstart from a sell rating to a neutral rating and boosted their price objective for the stock from $22.50 to $25.50 in a research note on Tuesday, June 4th. Needham & Company LLC reaffirmed a hold rating on shares of Upstart in a research note on Thursday, August 8th. JPMorgan Chase & Co. boosted their price target on shares of Upstart from $27.00 to $30.00 and gave the stock an underweight rating in a research report on Tuesday, August 20th. BTIG Research initiated coverage on shares of Upstart in a research note on Friday, June 7th. They issued a sell rating and a $14.00 price objective on the stock. Finally, Wedbush reaffirmed an underperform rating and set a $10.00 price target on shares of Upstart in a research report on Wednesday, August 7th. Four analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $27.61.

Upstart Stock Performance

NASDAQ UPST opened at $38.53 on Friday. Upstart has a fifty-two week low of $19.84 and a fifty-two week high of $49.62. The stock has a market cap of $3.39 billion, a PE ratio of -19.48 and a beta of 2.03. The firm’s fifty day moving average price is $34.31 and its two-hundred day moving average price is $27.90.

Upstart (NASDAQ:UPST) last posted its earnings results on Tuesday, August 6th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.22. The firm had revenue of $127.63 million during the quarter, compared to the consensus estimate of $124.55 million. Upstart had a negative return on equity of 32.01% and a negative net margin of 38.05%. The business’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period last year, the company earned ($0.34) earnings per share. As a group, sell-side analysts predict that Upstart will post -2.39 earnings per share for the current fiscal year.

Insider Activity

In other Upstart news, CTO Paul Gu sold 45,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $40.86, for a total transaction of $1,838,700.00. Following the transaction, the chief technology officer now owns 878,565 shares in the company, valued at $35,898,165.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CTO Paul Gu sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $40.86, for a total value of $1,838,700.00. Following the transaction, the chief technology officer now owns 878,565 shares in the company, valued at $35,898,165.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sanjay Datta sold 1,000 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $27.80, for a total value of $27,800.00. Following the transaction, the chief financial officer now owns 374,398 shares in the company, valued at $10,408,264.40. The disclosure for this sale can be found here. Insiders sold a total of 159,959 shares of company stock worth $6,020,644 over the last quarter. 18.06% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Upstart

A number of hedge funds and other institutional investors have recently modified their holdings of UPST. Atomi Financial Group Inc. increased its holdings in Upstart by 0.7% during the second quarter. Atomi Financial Group Inc. now owns 59,009 shares of the company’s stock worth $1,392,000 after buying an additional 406 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in Upstart by 18.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 2,657 shares of the company’s stock worth $63,000 after purchasing an additional 409 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Upstart by 4.2% during the second quarter. Principal Financial Group Inc. now owns 10,405 shares of the company’s stock valued at $245,000 after buying an additional 422 shares during the period. Inspire Advisors LLC boosted its position in shares of Upstart by 3.0% in the second quarter. Inspire Advisors LLC now owns 16,623 shares of the company’s stock valued at $392,000 after acquiring an additional 480 shares during the period. Finally, EMC Capital Management lifted its stake in Upstart by 16.2% in the 1st quarter. EMC Capital Management now owns 4,300 shares of the company’s stock worth $109,000 after purchasing an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 63.01% of the company’s stock.

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.