Upstart (NASDAQ:UPST) Given New $42.00 Price Target at Barclays

Upstart (NASDAQ:UPST - Get Free Report) had its price objective cut by Barclays from $93.00 to $42.00 in a research report issued on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Barclays's price objective would indicate a potential upside of 2.64% from the company's current price.

Several other equities research analysts also recently weighed in on the stock. B. Riley raised shares of Upstart from a "neutral" rating to a "buy" rating and lifted their price target for the company from $49.00 to $105.00 in a research note on Wednesday, February 12th. Citigroup upped their price target on Upstart from $87.00 to $108.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Needham & Company LLC increased their price target on Upstart from $100.00 to $108.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Bank of America boosted their price objective on Upstart from $33.00 to $39.00 and gave the company an "underperform" rating in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. upgraded Upstart from an "underweight" rating to a "neutral" rating and increased their target price for the stock from $57.00 to $79.00 in a report on Wednesday, February 12th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $69.46.

Upstart Price Performance

Shares of Upstart stock traded up $1.50 on Monday, hitting $40.92. 2,926,619 shares of the company's stock traded hands, compared to its average volume of 6,555,232. The company has a fifty day moving average of $54.50 and a two-hundred day moving average of $60.26. Upstart has a one year low of $20.60 and a one year high of $96.43. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of -28.03 and a beta of 2.39.

Upstart (NASDAQ:UPST - Get Free Report) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.04) by $0.02. Upstart had a negative return on equity of 25.87% and a negative net margin of 20.20%. Equities research analysts anticipate that Upstart will post -0.03 earnings per share for the current year.

Insider Activity

In other Upstart news, CEO Dave Girouard sold 4,524 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $79.01, for a total transaction of $357,441.24. Following the completion of the transaction, the chief executive officer now directly owns 52,614 shares of the company's stock, valued at approximately $4,157,032.14. This represents a 7.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Paul Gu sold 12,007 shares of the business's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $79.02, for a total value of $948,793.14. Following the completion of the sale, the chief technology officer now owns 1,006,599 shares in the company, valued at approximately $79,541,452.98. The trade was a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,395 shares of company stock valued at $2,638,828 over the last three months. Corporate insiders own 18.06% of the company's stock.

Institutional Investors Weigh In On Upstart

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its position in shares of Upstart by 36.3% in the third quarter. FMR LLC now owns 6,735 shares of the company's stock valued at $269,000 after purchasing an additional 1,792 shares during the period. MML Investors Services LLC lifted its position in shares of Upstart by 7.7% during the third quarter. MML Investors Services LLC now owns 43,912 shares of the company's stock worth $1,757,000 after acquiring an additional 3,133 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Upstart during the 3rd quarter valued at $430,000. Geode Capital Management LLC lifted its holdings in Upstart by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,816,774 shares of the company's stock worth $72,702,000 after purchasing an additional 29,482 shares in the last quarter. Finally, Tidal Investments LLC grew its holdings in Upstart by 1,413.7% during the 3rd quarter. Tidal Investments LLC now owns 333,463 shares of the company's stock valued at $13,342,000 after buying an additional 311,434 shares in the last quarter. 63.01% of the stock is currently owned by institutional investors.

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.