Upstart Holdings Inc. (NASDAQ: UPST) stock jumped 11.05% on Friday to $17.29 against a previous-day closing price of $15.57. With 6.91 million shares changed hands, the volume of the stock remained heavier than its average volume of 5.18 million shares. During the session, the Credit Services company that operates in wider Financial sector, reached to the highest price of $17.50 whereas the lowest price it dropped to was $15.63. The 52-week range on UPST shows that it touched its highest point at $161.00 and its lowest point at $12.01 during that stretch. It currently has a 1-year price target of $14.54.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of UPST was up-trending over the past week, with a rise of 0.46%, but this was up by 18.83% over a month. Three-month performance dropped to -24.40% while six-month performance fell -39.23%. The stock lost -83.69% in the past year, while it has gained 30.79% so far this year. A look at the trailing 12-month EPS for UPST yields -0.09 with Next year EPS estimates of -0.18. For the next quarter, that number is -0.52. This implies an EPS growth rate of -100.80% for this year and 550.00% for next year.
Float and Shares Shorts:
At present, 81.67 million UPST shares are outstanding with a float of 69.99 million shares on hand for trading. On Oct 13, 2022, short shares totaled 26.26 million, which was 32.28% higher than short shares on Sep 14, 2022. In addition to Mr. David J. Girouard as the firm’s Co-Founder, Pres, CEO & Chairperson of the Board, Mr. Paul Gu serves as its Co-Founder, CTO & Director.
Through their ownership of 45.98% of UPST’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 25.62% of UPST, in contrast to 23.79% held by mutual funds. Shares owned by individuals account for 20.28%. As the largest shareholder in UPST with 7.22% of the stake, The Vanguard Group, Inc. holds 5,914,001 shares worth 5,914,001. A second-largest stockholder of UPST, Stone Ridge Asset Management LLC, holds 3,685,913 shares, controlling over 4.50% of the firm’s shares. Morgan Stanley Investment Managem is the third largest shareholder in UPST, holding 2,748,341 shares or 3.36% stake. With a 2.60% stake in UPST, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 2,127,680 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 2.19% of UPST stock, is the second-largest Mutual Fund holder. It holds 1,793,346 shares valued at 23.71 million. Vanguard Small Cap Growth Index F holds 1.26% of the stake in UPST, owning 1,032,728 shares worth 13.65 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for UPST since 14 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 5 suggest SELL ratings. Of the remaining analysts, 5 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 3 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With UPST analysts setting a high price target of $24.00 and a low target of $8.00, the average target price over the next 12 months is $14.58. Based on these targets, UPST could surge 38.81% to reach the target high and fall by -53.73% to reach the target low. Reaching the average price target will result in a decline of -15.67% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. UPST will report FY 2022 earnings on 02/13/2024. Analysts have provided yearly estimates in a range of $0.06 being high and -$0.18 being low. For UPST, this leads to a yearly average estimate of -$0.02. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Upstart Holdings Inc. surprised analysts by -$0.16 when it reported -$0.24 EPS against a consensus estimate of -$0.08. The surprise factor in the prior quarter was -$0.02. Based on analyst estimates, the high estimate for the next quarter is -$0.40 and the low estimate is -$0.60. The average estimate for the next quarter is thus -$0.47.
Summary of Insider Activity:
Insiders traded UPST stock several times over the past three months with 10 Buys and 9 Sells. In these transactions, 520,942 shares were bought while 21,493 shares were sold. The number of buy transactions has increased to 56 while that of sell transactions has risen to 222 over the past year. The total number of shares bought during that period was 1,026,904 while 601,724 shares were sold.