Wedbush Issues Pessimistic Estimate for Upstart Earnings

Upstart Holdings, Inc. (NASDAQ:UPST - Free Report) - Analysts at Wedbush cut their Q4 2024 earnings per share estimates for Upstart in a research note issued on Monday, November 25th. Wedbush analyst D. Chiaverini now expects that the company will post earnings per share of ($0.39) for the quarter, down from their prior estimate of ($0.38). Wedbush has a "Neutral" rating and a $60.00 price target on the stock. The consensus estimate for Upstart's current full-year earnings is ($2.18) per share. Wedbush also issued estimates for Upstart's Q1 2025 earnings at ($0.29) EPS, Q3 2025 earnings at ($0.09) EPS and FY2025 earnings at ($0.50) EPS.

Several other analysts also recently commented on UPST. Piper Sandler raised shares of Upstart from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $31.00 to $85.00 in a research report on Friday, November 8th. JPMorgan Chase & Co. upgraded Upstart from an "underweight" rating to a "neutral" rating and raised their target price for the company from $30.00 to $45.00 in a report on Friday, November 8th. Barclays boosted their price target on Upstart from $25.00 to $35.00 and gave the stock an "equal weight" rating in a research report on Monday, August 12th. Needham & Company LLC reissued a "hold" rating on shares of Upstart in a research note on Thursday, August 8th. Finally, BTIG Research upgraded Upstart from a "sell" rating to a "neutral" rating in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $46.83.

Upstart Stock Performance

Shares of NASDAQ UPST traded down $0.08 during trading hours on Wednesday, hitting $78.43. The stock had a trading volume of 5,319,858 shares, compared to its average volume of 6,891,025. The company has a market capitalization of $7.16 billion, a P/E ratio of -40.64 and a beta of 1.97. The firm's 50-day moving average price is $53.91 and its two-hundred day moving average price is $37.90. Upstart has a 52 week low of $20.60 and a 52 week high of $86.07.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Anfield Capital Management LLC acquired a new position in shares of Upstart in the 2nd quarter worth approximately $33,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Upstart in the third quarter valued at $35,000. BNP Paribas acquired a new position in Upstart during the third quarter worth $37,000. Blue Trust Inc. lifted its holdings in shares of Upstart by 125.3% during the third quarter. Blue Trust Inc. now owns 989 shares of the company's stock valued at $40,000 after acquiring an additional 550 shares during the period. Finally, Hollencrest Capital Management acquired a new stake in shares of Upstart in the 3rd quarter valued at $40,000. Institutional investors own 63.01% of the company's stock.

Insider Transactions at Upstart

In other news, CEO Dave Girouard sold 41,667 shares of the firm's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $65.15, for a total transaction of $2,714,605.05. Following the completion of the transaction, the chief executive officer now directly owns 61,512 shares of the company's stock, valued at approximately $4,007,506.80. This trade represents a 40.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Natalia Mirgorodskaya sold 5,000 shares of Upstart stock in a transaction dated 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. This trade represents a 18.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 511,939 shares of company stock worth $29,292,725. 18.06% of the stock is currently owned by company insiders.

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.