Upstart (NASDAQ:UPST) Downgraded to “Neutral” at Citigroup

Citigroup downgraded shares of Upstart (NASDAQ:UPSTGet Rating) from a buy rating to a neutral rating in a research report released on Tuesday, MarketBeat.com reports. The firm currently has $50.00 target price on the stock, down from their prior target price of $180.00.

A number of other analysts have also recently weighed in on UPST. Bank of America raised shares of Upstart from an underperform rating to a buy rating and set a $255.00 target price on the stock in a report on Thursday, February 17th. FBN Securities assumed coverage on shares of Upstart in a report on Tuesday, April 12th. They set an outperform rating and a $150.00 target price on the stock. JMP Securities dropped their price objective on shares of Upstart from $315.00 to $245.00 and set a market outperform rating on the stock in a report on Wednesday, February 16th. Loop Capital started coverage on shares of Upstart in a report on Tuesday, April 5th. They issued a buy rating and a $140.00 price objective on the stock. Finally, Zacks Investment Research raised shares of Upstart from a sell rating to a hold rating in a research note on Thursday, February 24th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $114.00.

NASDAQ UPST opened at $38.13 on Tuesday. Upstart has a 12 month low of $25.43 and a 12 month high of $401.49. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 23.25 and a beta of 1.14. The company’s fifty day moving average price is $92.15 and its two-hundred day moving average price is $140.66.

Upstart (NASDAQ:UPSTGet Rating) last posted its quarterly earnings data on Monday, May 9th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.08. Upstart had a net margin of 15.23% and a return on equity of 21.15%. The firm had revenue of $310.14 million for the quarter, compared to the consensus estimate of $300.13 million. During the same period in the prior year, the firm posted $0.12 EPS. The firm’s revenue was up 155.6% compared to the same quarter last year. As a group, research analysts predict that Upstart will post 1.02 EPS for the current fiscal year.

In related news, General Counsel Alison Nicoll sold 7,500 shares of Upstart stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $89.62, for a total value of $672,150.00. Following the completion of the transaction, the general counsel now directly owns 186,367 shares of the company’s stock, valued at $16,702,210.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dave Girouard sold 41,667 shares of Upstart stock in a transaction dated Monday, May 2nd. 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 transaction, the chief executive officer now directly owns 87,114 shares of the company’s stock, valued at $6,969,120. The disclosure for this sale can be found here. Insiders sold 207,708 shares of company stock valued at $21,254,868 over the last ninety days. 18.87% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in the business. Northern Trust Corp raised its holdings in Upstart by 26.4% during the 1st quarter. Northern Trust Corp now owns 433,243 shares of the company’s stock worth $47,263,000 after purchasing an additional 90,383 shares during the last quarter. Verition Fund Management LLC boosted its position in Upstart by 40.3% during the 1st quarter. Verition Fund Management LLC now owns 15,380 shares of the company’s stock worth $1,678,000 after acquiring an additional 4,418 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Upstart by 2.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 270,008 shares of the company’s stock valued at $29,455,000 after buying an additional 5,960 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Upstart by 107.9% in the 1st quarter. Lazard Asset Management LLC now owns 3,536 shares of the company’s stock valued at $385,000 after buying an additional 1,835 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in Upstart by 18.8% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,800 shares of the company’s stock valued at $415,000 after acquiring an additional 600 shares during the period. 59.65% of the stock is owned by hedge funds and other institutional investors.

About Upstart (Get Rating)

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 the company's AI- enabled bank partners. Its platform connects consumers, banks, and institutional investors through a shared AI lending platform.

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