Wedbush Brokers Lower Earnings Estimates for Upstart

Upstart Holdings, Inc. (NASDAQ:UPST) – Analysts at Wedbush reduced their Q4 2024 earnings estimates for shares of Upstart in a research note issued to investors on Monday, November 25th. Wedbush analyst D. Chiaverini now forecasts that the company will earn ($0.39) per share for the quarter, down from their prior estimate of ($0.38). Wedbush has a “Neutral” rating and a $60.00 price target on the stock. The consensus estimate for Upstart’s current full-year earnings is ($2.18) per share. Wedbush also issued estimates for Upstart’s Q1 2025 earnings at ($0.29) EPS, Q3 2025 earnings at ($0.09) EPS and FY2025 earnings at ($0.50) EPS.

Several other equities research analysts have also recently commented on the company. Barclays boosted their target price on Upstart from $25.00 to $35.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Piper Sandler upgraded shares of Upstart from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $31.00 to $85.00 in a report on Friday, November 8th. Citigroup upgraded shares of Upstart from a “neutral” rating to a “buy” rating and lifted their price target for the company from $56.00 to $87.00 in a research note on Friday, November 8th. JPMorgan Chase & Co. raised shares of Upstart from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $30.00 to $45.00 in a research report on Friday, November 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of Upstart in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $46.83.

Upstart Price Performance

Shares of Upstart stock opened at $78.43 on Wednesday. The firm has a market cap of $7.16 billion, a price-to-earnings ratio of -40.64 and a beta of 1.97. Upstart has a one year low of $20.60 and a one year high of $86.07. The stock’s 50-day moving average is $53.91 and its 200-day moving average is $37.90.

Insider Transactions at Upstart

In other news, insider Natalia Mirgorodskaya sold 5,000 shares of Upstart stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $41.03, for a total transaction of $205,150.00. Following the completion of the transaction, the insider now directly owns 22,477 shares in the company, valued at approximately $922,231.31. The trade was a 18.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Scott Darling sold 1,300 shares of the stock in a transaction on Friday, October 4th. The shares were sold at an average price of $40.01, for a total value of $52,013.00. Following the completion of the sale, the insider now owns 161,043 shares in the company, valued at approximately $6,443,330.43. This trade represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 502,939 shares of company stock worth $28,887,725 in the last ninety days. Insiders own 18.06% of the company’s stock.

Institutional Trading of Upstart

Several hedge funds and other institutional investors have recently modified their holdings of UPST. Vanguard Group Inc. boosted its holdings in shares of Upstart by 1.6% during the first quarter. Vanguard Group Inc. now owns 7,128,975 shares of the company’s stock worth $191,698,000 after acquiring an additional 115,057 shares during the period. Geode Capital Management LLC boosted its stake in Upstart by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,816,774 shares of the company’s stock valued at $72,702,000 after purchasing an additional 29,482 shares during the period. Fred Alger Management LLC grew its holdings in Upstart by 153.2% in the 3rd quarter. Fred Alger Management LLC now owns 1,246,839 shares of the company’s stock valued at $49,886,000 after buying an additional 754,416 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Upstart by 63.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 725,582 shares of the company’s stock worth $29,031,000 after buying an additional 282,481 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Upstart by 5.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 642,876 shares of the company’s stock worth $25,721,000 after buying an additional 32,052 shares in the last quarter. Institutional investors own 63.01% of the company’s stock.

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.