Exceed price target of $150 and valuation
- Upstart Holdings Inc (NASDAQ: UPST) shares have received a price target of $150 from FBN Securities. These are the details.
Upstart Holdings Inc (NASDAQ: UPST) shares have received a price target of $150 from FBN Securities. And FBN Securities analyst Shebly Seyrafi began covering Upstart with an “outperform” rating.
Seyrafi noted that the company is a provider of a proprietary AI-based platform that helps banking partners originate loans with higher approval rates and lower loss rates, which is still primarily driven by the personal loan market, but entered the auto loan market in 2020 and Seyrafi are expected to grow to 3% of fee income in FY22 and 6% in FY2023.
And Seyrafi pointed out that Upstart has other avenues for expansion, such as the smaller-dollar loan market, business owner installment loans, and the home mortgage market. Plus Seyrafi sees the last two opportunities as the most important and forecasts very strong growth in the second year of entering each of these markets.
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