Upstart Stock Is Trading Higher Tuesday: What's Going On?

Upstart Holdings Inc. UPST stock is trading higher Tuesday. The movement appears to be driven by positive analyst coverage.

What Happened: Piper Sandler analyst Patrick Moley assumed Upstart with an Overweight rating on Tuesday and announced a price target of $75. The analyst sees significant upside potential to near-term earnings.

Last month, Upstart reported first-quarter adjusted earnings of 30 cents per share, beating analyst estimates of 17 cents per share, according to Benzinga Pro. The company also guided for positive GAAP net income in the second half of the year.

Here’s a look at other recent analyst changes:

• Needham analyst Kyle Peterson reiterated a Buy rating on Upstart and maintained a price target of $70.
• Barclays analyst Ramsey El-Assal maintained an Equal-Weight rating and raised the price target from $42 to $47.
• Goldman Sachs analyst Michael Ng maintained a Sell rating and raised the price target from $15 to $16.50.

How To Buy UPST Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Upstart's case, it is in the Financials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

SNOW Price Action: At the time of writing, Upstart shares were up 9.49% at $64.69, according to data from Benzinga Pro.

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