Tuesday, January 19, 2021

JMP Securities lifts Upstart Holdings Inc. [UPST] price estimate. Who else is bullish?

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Upstart Holdings Inc. [NASDAQ: UPST] traded at a high on 01/12/21, posting a 14.20 gain after which it closed the day’ session at $62.48. The company report on December 19, 2020 that Upstart Announces Closing of Initial Public Offering and Full Exercise of the Underwriters’ Option to Purchase Additional Shares.

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Upstart Holdings, Inc. (“Upstart”) (Nasdaq: UPST) announced the closing of its initial public offering of its common stock at a price to the public of $20.00 per share, which includes 9,000,000 shares offered and sold by Upstart, 3,015,690 shares offered and sold by the selling stockholders and the full exercise of the underwriters’ option to purchase 1,802,353 shares from certain selling stockholders. Upstart did not receive any proceeds from the sale of the shares by the selling stockholders. The shares began trading on the Nasdaq Global Select Market on December 16, 2020 under the symbol “UPST.”.


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Goldman Sachs & Co. LLC, BofA Securities and Citigroup acted as lead book-running managers for this offering. Jefferies and Barclays also acted as book-running managers. JMP Securities and Blaylock Van, LLC acted as co-managers for this offering.

The market cap for UPST stock reached $4.76 billion, with 76.12 million shares outstanding and 55.99 million shares in the current float. Compared to the average trading volume of 3.24M shares, UPST reached a trading volume of 1828790 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Upstart Holdings Inc. [UPST]?

JMP Securities have made an estimate for Upstart Holdings Inc. shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on January 11, 2021. While these analysts kept the previous recommendation, Jefferies raised their target price to Buy. The new note on the price target was released on January 11, 2021, representing the official price target for Upstart Holdings Inc. stock. Previously, the target price had yet another raise to $55, while Goldman analysts kept a Neutral rating on UPST stock.

The Average True Range (ATR) for Upstart Holdings Inc. is set at 7.68, with the Price to Sales ratio for UPST stock in the period of the last 12 months amounting to 23.17.

How has UPST stock performed recently?

Upstart Holdings Inc. [UPST] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 29.17.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The RSI for the last a single of trading hit 80.17, while it was recorded at 55.49 for the last single week of trading.

Upstart Holdings Inc. [UPST]: Deeper insight into the fundamentals

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