Upstart Holdings Inc (NASDAQ: UPST) stock jumped 5.40% on Friday to $25.58 against a previous-day closing price of $24.27. With 5.14 million shares changed hands, the volume of the stock remained lighter than its average volume of 5.79 million shares. During the session, the Credit Services company that operates in wider Financial sector, reached to the highest price of $25.68 whereas the lowest price it dropped to was $23.85. The 52-week range on UPST shows that it touched its highest point at $72.58 and its lowest point at $11.93 during that stretch. It currently has a 1-year price target of $20.19. Beta for the stock currently stands at 1.94.
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 22.57%, but this was down by -4.12% over a month. Three-month performance dropped to -23.28% while six-month performance rose 10.98%. The stock gained 26.63% in the past year, while it has gained 93.49% so far this year. A look at the trailing 12-month EPS for UPST yields -3.07 with Next year EPS estimates of 0.24. For the next quarter, that number is -0.12. This implies an EPS growth rate of -354.76% for this year and 144.16% for next year. EPS is expected to grow by 30.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -65.64%.
Float and Shares Shorts:
At present, 81.26 million UPST shares are outstanding with a float of 72.11 million shares on hand for trading. On Oct 30, 2023, short shares totaled 30.16 million, which was 35.47% higher than short shares on Sep 28, 2023. In addition to Mr. David J. Girouard as the firm’s Co-Founder, President, CEO & Chairperson of the Board, Mr. Paul Gu serves as its Co-Founder, CTO & Director.
Through their ownership of 36.84% of UPST’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 28.12% of UPST, in contrast to 25.33% held by mutual funds. Shares owned by individuals account for 20.10%. As the largest shareholder in UPST with 7.92% of the stake, The Vanguard Group, Inc. holds 6,647,407 shares worth 6,647,407. A second-largest stockholder of UPST, BlackRock Fund Advisors, holds 4,349,250 shares, controlling over 5.19% of the firm’s shares. D. E. Shaw & Co. LP is the third largest shareholder in UPST, holding 2,817,075 shares or 3.36% stake. With a 2.66% stake in UPST, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 2,232,727 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 1,837,983 shares valued at 44.17 million. iShares Russell 2000 ETF holds 1.99% of the stake in UPST, owning 1,672,945 shares worth 40.2 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for UPST since 0 analysts follow the stock currently. 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 $36.00 and a low target of $6.00, the average target price over the next 12 months is $20.19. Based on these targets, UPST could surge 40.73% to reach the target high and fall by -76.54% to reach the target low. Reaching the average price target will result in a decline of -21.07% from current levels.
Summary of Insider Activity:
Insiders traded UPST stock several times over the past three months with 5 Buys and 26 Sells. In these transactions, 43,200 shares were bought while 102,994 shares were sold. The number of buy transactions has increased to 53 while that of sell transactions has risen to 66 over the past year. The total number of shares bought during that period was 1,268,625 while 279,087 shares were sold.