Upstart (NASDAQ:UPST) Stock Price Expected to Rise, Wedbush Analyst Says

Upstart (NASDAQ:UPST) had its target price raised by research analysts at Wedbush from $60.00 to $75.00 in a research report issued to clients and investors on Monday. The brokerage currently has a “neutral” rating on the stock. Wedbush’s target price points to a potential upside of 8.89% from the stock’s current price.

A number of other brokerages also recently issued reports on UPST. Barclays lifted their price target on Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. BTIG Research upgraded shares of Upstart from a “sell” rating to a “neutral” rating in a research report on Monday, November 11th. Citigroup raised shares of Upstart from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $56.00 to $87.00 in a report on Friday, November 8th. JPMorgan Chase & Co. cut Upstart from a “neutral” rating to an “underweight” rating and increased their target price for the company from $45.00 to $57.00 in a research note on Monday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Upstart in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Upstart presently has a consensus rating of “Hold” and a consensus price target of $49.83.

Upstart Price Performance

UPST stock traded down $9.91 during mid-day trading on Monday, reaching $68.88. 4,118,967 shares of the company traded hands, compared to its average volume of 6,851,534. The company has a fifty day moving average price of $55.46 and a 200-day moving average price of $38.68. Upstart has a 52-week low of $20.60 and a 52-week high of $86.07. The company has a market capitalization of $6.28 billion, a P/E ratio of -35.69 and a beta of 1.97.

Insider Buying and Selling at Upstart

In related news, CFO Sanjay Datta sold 1,500 shares of Upstart stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $79.54, for a total transaction of $119,310.00. Following the sale, the chief financial officer now owns 331,093 shares of the company’s stock, valued at approximately $26,335,137.22. This trade represents a 0.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Natalia Mirgorodskaya sold 5,000 shares of Upstart stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $41.03, for a total transaction of $205,150.00. Following the sale, the insider now owns 22,477 shares in the company, valued at approximately $922,231.31. The trade was a 18.20 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 502,939 shares of company stock valued at $28,887,725. Insiders own 18.06% of the company’s stock.

Institutional Trading of Upstart

A number of institutional investors and hedge funds have recently bought and sold shares of UPST. Price T Rowe Associates Inc. MD raised its holdings in shares of Upstart by 7.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 42,350 shares of the company’s stock worth $1,139,000 after acquiring an additional 2,770 shares in the last quarter. Comerica Bank lifted its position in Upstart by 144.0% during the first quarter. Comerica Bank now owns 2,313 shares of the company’s stock valued at $62,000 after purchasing an additional 1,365 shares during the last quarter. Cetera Advisors LLC grew its stake in shares of Upstart by 66.6% in the 1st quarter. Cetera Advisors LLC now owns 17,258 shares of the company’s stock worth $464,000 after buying an additional 6,899 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Upstart by 259.0% in the 2nd quarter. GAMMA Investing LLC now owns 2,204 shares of the company’s stock worth $52,000 after buying an additional 1,590 shares during the last quarter. Finally, Capital Advantage Inc. raised its position in shares of Upstart by 15.2% during the 2nd quarter. Capital Advantage Inc. now owns 14,246 shares of the company’s stock valued at $331,000 after buying an additional 1,881 shares in the last quarter. 63.01% of the stock is currently owned by institutional investors.

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.