Upstart (NASDAQ:UPST) Stock Price Up 8.2% – Still a Buy?

Upstart Holdings, Inc. (NASDAQ:UPST) shot up 8.2% during mid-day trading on Tuesday . The company traded as high as $51.46 and last traded at $51.12. 2,079,293 shares traded hands during trading, a decline of 68% from the average session volume of 6,582,157 shares. The stock had previously closed at $47.24.

Analysts Set New Price Targets

Several research firms have recently weighed in on UPST. Needham & Company LLC reaffirmed a “hold” rating on shares of Upstart in a report on Thursday, August 8th. Piper Sandler raised their price objective on shares of Upstart from $28.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Mizuho boosted their target price on Upstart from $33.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Barclays increased 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. Finally, JPMorgan Chase & Co. lifted their price objective on Upstart from $27.00 to $30.00 and gave the company an “underweight” rating in a research report on Tuesday, August 20th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Upstart currently has a consensus rating of “Hold” and a consensus target price of $31.50.

Upstart Stock Up 7.6 %

The company’s fifty day moving average is $43.19 and its two-hundred day moving average is $32.48. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of -21.62 and a beta of 1.97.

Upstart (NASDAQ:UPST) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.22. Upstart had a negative return on equity of 32.01% and a negative net margin of 38.05%. The business had revenue of $127.63 million during the quarter, compared to the consensus estimate of $124.55 million. During the same quarter in the prior year, the company posted ($0.34) earnings per share. The firm’s revenue was down 6.0% on a year-over-year basis. On average, equities research analysts expect that Upstart Holdings, Inc. will post -2.39 EPS for the current year.

Insider Activity

In other Upstart news, CEO Dave Girouard sold 3,361 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $38.35, for a total value of $128,894.35. Following the completion of the sale, the chief executive officer now owns 61,512 shares of the company’s stock, valued at approximately $2,358,985.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Upstart news, CEO Dave Girouard sold 3,361 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $38.35, for a total value of $128,894.35. Following the completion of the sale, the chief executive officer now directly owns 61,512 shares in the company, valued at $2,358,985.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sanjay Datta sold 1,500 shares of Upstart stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $51.70, for a total value of $77,550.00. Following the transaction, the chief financial officer now owns 334,093 shares in the company, valued at $17,272,608.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 312,959 shares of company stock valued at $13,724,175 in the last ninety days. 18.06% of the stock is owned by insiders.

Institutional Investors Weigh In On Upstart

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Anfield Capital Management LLC acquired a new stake in shares of Upstart in the 2nd quarter valued at about $33,000. Blue Trust Inc. lifted its stake in Upstart by 125.3% in the 3rd quarter. Blue Trust Inc. now owns 989 shares of the company’s stock valued at $40,000 after acquiring an additional 550 shares in the last quarter. Hollencrest Capital Management acquired a new position in Upstart during the 3rd quarter worth approximately $40,000. Indiana Trust & Investment Management Co bought a new position in shares of Upstart during the 3rd quarter worth approximately $43,000. Finally, GAMMA Investing LLC raised its holdings in shares of Upstart by 259.0% in the second quarter. GAMMA Investing LLC now owns 2,204 shares of the company’s stock valued at $52,000 after purchasing an additional 1,590 shares during the last quarter. 63.01% of the stock is currently owned by institutional investors and hedge funds.

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.