Citigroup slashes price target on Upstart Holdings Inc. [UPST] – find out why.

Upstart Holdings Inc. [NASDAQ: UPST] surged by $22.13 during the normal trading session on Tuesday and reaching a high of $337.52 during the day while it closed the day at $333.05. The company report on October 6, 2021 that Upstart Launches First Auto Retail Software with AI-enabled Financing.

Upstart (NASDAQ: UPST), a leading artificial intelligence (AI) lending platform, announced Upstart Auto Retail software, including AI-enabled financing. The cloud-based solution enables a superior car buying experience for both consumers and dealerships. For the first time, this new software will provide access to Upstart-powered auto loans as well.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211006005418/en/.

Upstart Holdings Inc. stock has also gained 12.40% of its value over the past 7 days. However, UPST stock has inclined by 194.40% in the 3 months of the year. Over the past six months meanwhile, it has gained 218.68% and gained 717.30% year-on date.

The market cap for UPST stock reached $25.58 billion, with 76.67 million shares outstanding and 65.66 million shares in the current float. Compared to the average trading volume of 4.94M shares, UPST reached a trading volume of 4659726 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Upstart Holdings Inc. [UPST]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for UPST shares is $234.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on UPST stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Citigroup have made an estimate for Upstart Holdings Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on September 20, 2021. While these analysts kept the previous recommendation, Atlantic Equities raised their target price to Overweight. The new note on the price target was released on September 07, 2021, representing the official price target for Upstart Holdings Inc. stock. Previously, the target price had yet another raise from $130 to $230, while Barclays kept a Overweight rating on UPST stock. On August 11, 2021, analysts increased their price target for UPST shares from 120 to 205.

The Average True Range (ATR) for Upstart Holdings Inc. is set at 20.31, with the Price to Sales ratio for UPST stock in the period of the last 12 months amounting to 56.76. The Price to Book ratio for the last quarter was 35.66, with the Price to Cash per share for the same quarter was set at 6.59.

UPST stock trade performance evaluation

Upstart Holdings Inc. [UPST] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.40. With this latest performance, UPST shares gained by 19.80% in over the last four-week period, additionally plugging by 218.68% over the last 6 months.

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 current RSI for UPST stock in for the last two-week period is set at 66.96, with the RSI for the last a single of trading hit 68.48, and the three-weeks RSI is set at 66.96 for Upstart Holdings Inc. [UPST]. The present Moving Average for the last 50 days of trading for this stock 248.88, while it was recorded at 314.06 for the last single week of trading, and 138.36 for the last 200 days.

Upstart Holdings Inc. [UPST]: An insightful look at the core fundamentals

Upstart Holdings Inc. [UPST]: Insider Ownership positions

There are presently around $13,874 million, or 56.50% of UPST stock, in the hands of institutional investors. The top three institutional holders of UPST stocks are: THIRD POINT LLC with ownership of 13,381,222, which is approximately 0% of the company’s market cap and around 0.50% of the total institutional ownership; VK SERVICES, LLC, holding 5,248,588 shares of the stock with an approximate value of $1.75 billion in UPST stocks shares; and FIRST ROUND CAPITAL MANAGEMENT III, LLC, currently with $971.04 million in UPST stock with ownership of nearly 0% of the company’s market capitalization.

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223 institutional holders increased their position in Upstart Holdings Inc. [NASDAQ:UPST] by around 9,354,822 shares. Additionally, 49 investors decreased positions by around 4,951,897 shares, while 11 investors held positions by with 27,349,629 shares. The mentioned changes placed institutional holdings at 41,656,348 shares, according to the latest SEC report filing. UPST stock had 156 new institutional investments in for a total of 4,778,856 shares, while 24 institutional investors sold positions of 806,057 shares during the same period.

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