B.Riley Financial analyst Hal Goetsch upgraded the rating on Upstart Holdings (UPST – Research Report) to a Buy today, setting a price target of $105.00.
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Hal Goetsch has given his Buy rating due to a combination of factors including Upstart Holdings’ impressive performance in the fourth quarter of 2024 and their optimistic outlook for 2025. The company significantly exceeded expectations, reporting $218 million in revenue and an adjusted EBITDA of $39 million, both surpassing initial targets. This strong performance, coupled with a projected 57% revenue growth for 2025, indicates a robust growth trajectory for the company.
Moreover, Goetsch highlights the scalability of Upstart’s fee-based model, which is poised to benefit from an improving macroeconomic environment. The decision to raise the price target from $49 to $105 reflects confidence in Upstart’s ability to leverage its expanding product offerings and operational efficiencies. With new estimates projecting substantial revenue and earnings growth through 2026, Upstart is well-positioned for continued success.
In another report released today, Mizuho Securities also maintained a Buy rating on the stock with a $110.00 price target.
Based on the recent corporate insider activity of 151 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.