Upstart (NASDAQ:UPST) Sees Unusually-High Trading Volume

Upstart Holdings, Inc. (NASDAQ:UPST) shares saw an uptick in trading volume on Friday . 206,441 shares changed hands during mid-day trading, a decline of 93% from the previous session’s volume of 2,783,629 shares.The stock last traded at $129.01 and had previously closed at $146.42.

A number of equities analysts have recently weighed in on the company. Bank of America upgraded Upstart from a “neutral” rating to a “buy” rating and increased their target price for the stock from $57.00 to $135.00 in a research note on Thursday, March 18th. Piper Sandler increased their target price on Upstart from $143.00 to $152.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 12th. JMP Securities increased their target price on Upstart from $149.00 to $190.00 and gave the stock a “market outperform” rating in a research note on Monday. Zacks Investment Research lowered Upstart from a “buy” rating to a “hold” rating in a research note on Saturday, May 1st. Finally, Barclays increased their target price on Upstart from $58.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Monday, March 22nd. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $106.11.

The business has a 50 day simple moving average of $123.51.

Upstart (NASDAQ:UPST) last posted its quarterly earnings data on Tuesday, May 11th. The company reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.07. The company had revenue of $121.35 million for the quarter, compared to the consensus estimate of $116.16 million. During the same quarter last year, the business earned $0.05 EPS. Upstart’s revenue was up 89.6% on a year-over-year basis. On average, equities analysts forecast that Upstart Holdings, Inc. will post 0.31 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of UPST. Morgan Stanley bought a new position in shares of Upstart in the 4th quarter valued at $102,300,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Upstart in the 4th quarter valued at $74,253,000. Founders Fund IV Management LLC bought a new position in shares of Upstart in the 4th quarter valued at $20,922,000. Ameriprise Financial Inc. increased its stake in shares of Upstart by 101.8% in the 1st quarter. Ameriprise Financial Inc. now owns 776,153 shares of the company’s stock valued at $99,994,000 after purchasing an additional 391,627 shares during the last quarter. Finally, BlackRock Inc. increased its stake in shares of Upstart by 130.8% in the 1st quarter. BlackRock Inc. now owns 592,594 shares of the company’s stock valued at $76,361,000 after purchasing an additional 335,850 shares during the last quarter. Institutional investors own 48.81% of the company’s stock.

Upstart Company Profile (NASDAQ:UPST)

Upstart Holdings, Inc operates a cloud- based artificial intelligence (AI) lending platform. 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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