Upstart (NASDAQ:UPST) Given Market Perform Rating at JMP Securities

Upstart (NASDAQ:UPST)‘s stock had its “market perform” rating reaffirmed by stock analysts at JMP Securities in a research report issued to clients and investors on Wednesday, Benzinga reports.

UPST has been the subject of several other reports. Piper Sandler reaffirmed a “neutral” rating and issued a $28.00 target price on shares of Upstart in a research note on Tuesday, March 19th. JPMorgan Chase & Co. lowered their target price on shares of Upstart from $26.00 to $24.00 and set an “underweight” rating for the company in a research note on Wednesday, February 14th. Mizuho boosted their price objective on shares of Upstart from $19.00 to $23.00 and gave the company an “underperform” rating in a research note on Thursday, January 18th. Finally, Bank of America initiated coverage on shares of Upstart in a research note on Thursday, April 4th. They set an “underperform” rating and a $22.00 price objective for the company. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Upstart currently has a consensus rating of “Hold” and a consensus price target of $26.00.

Upstart Stock Down 0.4 %

Shares of UPST traded down $0.10 during mid-day trading on Wednesday, reaching $22.44. 3,024,588 shares of the company’s stock were exchanged, compared to its average volume of 6,959,086. The company has a market cap of $1.97 billion, a price-to-earnings ratio of -7.76 and a beta of 1.94. Upstart has a 52-week low of $11.93 and a 52-week high of $72.58. The company has a 50-day simple moving average of $26.30 and a two-hundred day simple moving average of $29.67.

Upstart (NASDAQ:UPST) last released its earnings results on Tuesday, February 13th. The company reported ($0.51) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.05. The firm had revenue of $140.31 million during the quarter, compared to analysts’ expectations of $135.28 million. Upstart had a negative net margin of 46.76% and a negative return on equity of 35.47%. As a group, equities research analysts predict that Upstart will post -2.19 EPS for the current fiscal year.

Insider Activity at Upstart

In related news, insider Scott Darling sold 1,298 shares of Upstart stock in a transaction on Monday, January 29th. The shares were sold at an average price of $35.38, for a total transaction of $45,923.24. Following the transaction, the insider now owns 169,527 shares in the company, valued at approximately $5,997,865.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Upstart news, insider Scott Darling sold 1,298 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $35.38, for a total value of $45,923.24. Following the transaction, the insider now owns 169,527 shares in the company, valued at approximately $5,997,865.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sanjay Datta sold 1,000 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $32.62, for a total transaction of $32,620.00. Following the completion of the transaction, the chief financial officer now owns 356,090 shares in the company, valued at approximately $11,615,655.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,777 shares of company stock worth $1,864,629. 18.06% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Upstart

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Upstart by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 7,013,918 shares of the company’s stock worth $286,589,000 after buying an additional 157,719 shares in the last quarter. ICA Group Wealth Management LLC acquired a new position in Upstart in the 4th quarter worth $61,000. American International Group Inc. raised its stake in shares of Upstart by 1.2% in the 4th quarter. American International Group Inc. now owns 36,406 shares of the company’s stock valued at $1,488,000 after purchasing an additional 418 shares in the last quarter. Sierra Summit Advisors LLC acquired a new stake in shares of Upstart in the 4th quarter valued at about $272,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Upstart by 5.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 39,580 shares of the company’s stock valued at $1,618,000 after purchasing an additional 1,880 shares in the last quarter. Institutional investors and hedge funds own 63.01% of the company’s stock.

About Upstart

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.