JP Morgan Refreshes Upstart Holdings Outlook Amidst Varied Analyst Predictions
Fintel reports that on November 8, 2024, JP Morgan upgraded their outlook for Upstart Holdings (NasdaqGS:UPST) from Underweight to Neutral.
Analyst Predictions Reveal Significant Price Drop Potential
As of October 22, 2024, the average one-year price target for Upstart Holdings is $30.05 per share. Estimates range from a low of $9.09 to a high of $50.40. This reflects a substantial decrease of 62.90% from its latest reported closing price of $81.00 per share.
The projected annual revenue for Upstart Holdings is $992 million, showing a notable increase of 63.98%. Additionally, the anticipated annual non-GAAP EPS stands at $1.20.
Institutional Investor Sentiment Surges
There are 471 funds or institutions reporting positions in Upstart Holdings, indicating an increase of 20 (or 4.43%) over the last quarter. The average portfolio weight of all funds dedicated to UPST is 0.06%, an increase of 9.31%. In the past three months, total shares owned by institutions rose by 9.98% to 42,046,000 shares. 
The put/call ratio of UPST is 0.82, suggesting a bullish outlook from investors.
The Vanguard Total Stock Market Index Fund Investor Shares holds 2,363,000 shares, accounting for 2.64% ownership of Upstart. In a prior report, the firm owned 2,252,000 shares, reflecting a 4.67% increase. However, it has reduced its portfolio allocation in UPST by 10.51% over the last quarter.
The Vanguard Small-Cap Index Fund Investor Shares owns 1,879,000 shares, representing 2.10% ownership of Upstart. This is up slightly from 1,876,000 shares reported earlier, marking a 0.18% increase, though it too has decreased its portfolio allocation by 7.81% over the same period.
Geode Capital Management holds 1,787,000 shares, now comprising 2.00% ownership. From their last filing, where they owned 1,667,000 shares, this represents a 6.73% increase, but they have also cut their portfolio allocation by 10.74%.
The iShares Russell 2000 ETF holds 1,731,000 shares (1.93% ownership) but has reduced its holdings from 1,821,000, reflecting a 5.21% decrease and a 9.03% reduction in portfolio allocation.
Susquehanna International Group, LLP, has increased its shareholding to 1,527,000 shares (1.71% ownership) from 1,459,000, marking a 4.43% rise even as they have reduced their portfolio allocation by 1.57% in the last quarter.
Overview of Upstart Holdings
(Description provided by the company)
Upstart is an innovative AI lending platform that collaborates with banks to enhance access to affordable credit. Through its AI technology, the company enables partner banks to achieve higher approval rates and lower loss rates while offering a seamless digital lending experience. More than two-thirds of the loans processed by Upstart are approved instantly and are fully automated. Founded in 2012 by former Google employees, Upstart operates from its headquarters in San Mateo, California, with an additional office in Columbus, Ohio.
Fintel serves as a comprehensive investing research platform utilized by individual investors, traders, financial advisors, and small hedge funds.
Its data spans global financial information, covering fundamentals, analyst reports, ownership data, fund sentiment, options sentiment, insider trading, and more. Their exclusive stock picks utilize advanced, backtested quantitative models aimed at enhancing profitability.
This story originally appeared on Fintel.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
