In a report released today, Kyle Peterson from Needham reiterated a Buy rating on Upstart Holdings, with a price target of $82.00.
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Kyle Peterson has given his Buy rating due to a combination of factors that highlight Upstart Holdings’ strong performance in the second quarter. The company’s results surpassed expectations both in terms of revenue and earnings, which is a significant achievement. Additionally, Upstart Holdings achieved profitability on a GAAP basis, marking an important milestone that underscores its financial health.
Despite the impressive results, the company’s modest guidance increase led to a notable drop in share price, which Peterson views as a temporary setback. He suggests that this pull-back presents a strategic buying opportunity for investors, given the company’s robust business momentum. Consequently, Peterson has increased his estimates and target price, reinforcing his confidence in Upstart Holdings’ future prospects.
In another report released today, Piper Sandler also maintained a Buy rating on the stock with a $90.00 price target.
Based on the recent corporate insider activity of 152 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of UPST in relation to earlier this year.