Upstart Holdings, Inc. (NASDAQ:UPST) shares are trading higher Tuesday as the tech market rallies after the release of cooling inflation data before the market open.
What To Know:
Upstart Holdings shares are climbing Tuesday, however the stock remains down by more than 15% over the last five days after the company reported worse-than-expected third-quarter financial results.
Several analysts updated coverage and price targets for Upstart Holdings following its earnings report last week:
- Piper Sandler analyst Arvind Ramnani maintained Upstart Holdings with a Neutral and lowered the price target from $35 to $27.
- Wedbush analyst David Chiaverini reiterated Upstart Holdings with an Underperform and maintained a $10 price target.
- JP Morgan analyst Reginald Smith maintained Upstart Holdings with an Underweight and lowered the price target from $28 to $26.
Upstart Holdings’ stock has attracted the interest of short-sellers with a remarkable 40.88% of available UPST shares being sold short, according to data from Benzinga Pro. UPST shares are trading below the stock’s 50-day moving average of $27.21 and well below its 52-week high of $72.58.
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UPST Price Action: According to Benzinga Pro, Upstart Holdings shares are up by more than 13% at $24.84 at the time of publication.
Image: Gino Crescoli from Pixabay
