Upstart Holdings ( (UPST) ) has risen by 14.13%. Read on to learn why.
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Upstart Holdings has seen a notable increase in its stock price, rising by 14.13% over the past week. This surge can be largely attributed to Piper Sandler’s recent initiation of coverage on the company with an Overweight rating and a price target of $75. Analysts have highlighted Upstart’s AI-driven lending model as a key factor in its potential to disrupt traditional lending practices and drive significant earnings growth, despite the presence of macroeconomic challenges.
The company’s innovative approach to lending, which uses artificial intelligence to offer more accurately priced loans, positions it well to capitalize on a large market opportunity. Analysts at Piper Sandler have expressed optimism about Upstart’s ability to penetrate a vast total addressable market, suggesting that the company is well-positioned for long-term success. This positive outlook has contributed to the recent bullish sentiment around Upstart’s stock.
While some analysts have maintained a Hold rating on Upstart, the overall consensus remains moderately positive, with a price target consensus of $64.00. The company’s current market cap stands at $5.52 billion, and its technical sentiment signal is a Buy. As Upstart continues to attract attention from investors and analysts alike, its stock performance will be closely watched in the coming weeks.