Shares of Upstart Holdings, Inc. (NASDAQ:UPST – Get Rating) fell 11.3% on Thursday. The company traded as low as $31.03 and last traded at $31.03. 52,612 shares changed hands during the midday session, down 100% from the average session volume of 11,269,509 shares. The stock previously closed at $34.99.
A number of research companies have weighed in on UPST. Citigroup downgraded Upstart from a “buy” rating to a “neutral” rating and lowered its target price for the company from $180.00 to $50.00 in a Tuesday, May 10, report. Goldman Sachs Group downgraded Upstart from a “buy” rating to a “neutral” rating and lowered its price target for the stock from $250.00 to $40.00 in a Tuesday, May 10 research note . Piper Sandler downgraded Upstart from an “overweight” rating to a “neutral” rating and lowered its price target for the stock from $230.00 to $44.00 in a Tuesday, May 10 research note. Bank of America downgraded Upstart from a “buy” rating to a “neutral” rating and lowered its price target for the stock from 5.00 to $41.00 in a Tuesday, May 10 research note. Finally, Barclays downgraded Upstart from an “overweight” rating to an “equal weight” rating and set a price target of $35.00 on the stock. in a research note from Wednesday, May 11. Two investment analysts have assigned the stock a sell rating, eight have assigned a hold rating and three have assigned the stock a buy rating. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $97.77.
The company has a 50-day moving average of $60.84 and a two-hundred-day moving average of $104.46. The stock has a market capitalization of $2.66 billion, a PE ratio of 19.48 and a beta of 1.23.
Upstart (NASDAQ:UPST – Get Rating) last released quarterly earnings data on Monday, May 9. The company reported earnings per share (EPS) of $0.34 for the quarter, beating the consensus estimate of $0.25 by $0.09. The company posted revenue of $310.14 million in the quarter, compared to $300.13 million expected by analysts. Upstart had a return on equity of 20.27% and a net margin of 15.23%. The company’s revenue for the quarter increased 155.6% year over year. In the same quarter a year earlier, the company posted EPS of $0.12. Sell-side analysts expect Upstart Holdings, Inc. to post EPS of 0.51 for the current fiscal year.
In other news, General Counsel Alison Nicoll sold 7,500 shares of the company in a transaction that took place on Wednesday, May 25. The stock was sold at an average price of $40.32, for a total value of $302,400.00. Following the completion of the sale, the General Counsel now directly owns 412,983 shares of the company, valued at $16,651,474.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, CEO Dave Girouard sold 41,667 shares of the company in a trade that took place on Monday, May 2. The shares were sold at an average price of $80.00, for a total value of $3,333,360.00. Following the completion of the sale, the CEO now owns 87,114 shares of the company, valued at $6,969,120. The disclosure of this sale can be found here. Insiders have sold 193,383 shares of the company valued at $18,085,483 over the past three months. Insiders hold 18.87% of the shares of the company.
Institutional investors have recently changed their stock portfolios. Wagner Wealth Management LLC bought a new position in Upstart in the third quarter worth about $29,000. Adirondack Trust Co. bought a new position in Upstart in the third quarter worth about $48,000. Outfitter Financial LLC bought a new position in Upstart in the fourth quarter worth about $25,000. Tyler Stone Wealth Management bought a new position in Upstart in the fourth quarter worth about $26,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in Upstart in the fourth quarter for a value of around $26,000. Institutional investors hold 59.65% of the company’s shares.
Upstart Company Profile (NASDAQ: UPST)
Upstart Holdings, Inc operates a cloud-based artificial intelligence (AI) lending platform in the United States. The company’s platform aggregates consumer demand for loans and connects it to its network of company-enabled AI banking partners. Its platform connects consumers, banks and institutional investors through a shared AI lending platform.
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