Upstart (NASDAQ:UPST) Upgraded at JPMorgan Chase & Co.

Upstart (NASDAQ:UPST) was upgraded by equities research analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a report released on Wednesday,Briefing.com Automated Import reports. The brokerage currently has a $79.00 price target on the stock, up from their previous price target of $57.00. JPMorgan Chase & Co.‘s target price indicates a potential upside of 17.32% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Piper Sandler raised Upstart from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $31.00 to $85.00 in a research report on Friday, November 8th. Redburn Atlantic raised Upstart from a “neutral” rating to a “buy” rating and upped their target price for the stock from $37.00 to $95.00 in a research report on Tuesday, December 3rd. Wedbush upped their target price on Upstart from $60.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. BTIG Research raised Upstart from a “sell” rating to a “neutral” rating in a research report on Monday, November 11th. Finally, Citigroup raised Upstart from a “neutral” rating to a “buy” rating and upped their target price for the stock from $56.00 to $87.00 in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Upstart presently has a consensus rating of “Hold” and an average target price of $67.73.

Upstart Trading Down 5.1 %

UPST stock opened at $67.34 on Wednesday. The stock has a 50-day moving average price of $67.49 and a two-hundred day moving average price of $54.38. Upstart has a 12-month low of $20.60 and a 12-month high of $88.95. The company has a market cap of $6.14 billion, a PE ratio of -34.89 and a beta of 2.25.

Upstart (NASDAQ:UPST) last posted its quarterly earnings results on Tuesday, February 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. Upstart had a negative return on equity of 32.57% and a negative net margin of 30.15%. Equities analysts forecast that Upstart will post -2.18 EPS for the current fiscal year.

Insider Buying and Selling at Upstart

In other news, CTO Paul Gu sold 65,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $66.58, for a total transaction of $4,327,700.00. Following the sale, the chief technology officer now directly owns 878,565 shares in the company, valued at approximately $58,494,857.70. This represents a 6.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kerry Whorton Cooper sold 500 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $74.59, for a total value of $37,295.00. Following the sale, the director now owns 17,961 shares in the company, valued at $1,339,710.99. The trade was a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 347,868 shares of company stock worth $24,056,862 over the last quarter. 18.06% of the stock is owned by corporate insiders.

Institutional Trading of Upstart

Institutional investors and hedge funds have recently made changes to their positions in the stock. Indiana Trust & Investment Management Co acquired a new stake in Upstart in the 3rd quarter valued at approximately $43,000. Summit Financial Strategies Inc. increased its position in Upstart by 13.3% in the 3rd quarter. Summit Financial Strategies Inc. now owns 10,399 shares of the company’s stock valued at $416,000 after acquiring an additional 1,223 shares during the period. Blue Trust Inc. increased its position 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 during the period. Castleview Partners LLC increased its position in Upstart by 21,610.0% in the 3rd quarter. Castleview Partners LLC now owns 2,171 shares of the company’s stock valued at $87,000 after acquiring an additional 2,161 shares during the period. Finally, Sequoia Financial Advisors LLC acquired a new stake in Upstart in the 3rd quarter valued at approximately $235,000. 63.01% of the stock is currently owned by institutional investors and hedge funds.

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.