Benzinga | Sep 8, 2021 10:18AM EDT

Why Upstart Shares Are Rising

Upstart Holdings Inc (NASDAQ:UPST) shares are trading higher by 5% at $279.50 after Piper Sandler maintained an Overweight rating on the stock and raised its price target from $192 to $300.

"Our revised revenue estimates reflect our view that the consumer loan segment will continue outperforming, as Upstart's AI-powered risk model is driving market share gains given broader acceptance among bank partners," said Arvind Ramnani, Piper Sandler Sr. Research Analyst.

Upstart was trading higher Tuesday after Atlantic Equities analyst Simon Clinch initiated coverage with an Overweight rating.

Upstart provides credit services. The company provides a proprietary, cloud-based and artificial intelligence lending platform.

Upstart has a 52-week high of $276.52 and a 52-week low of $22.61.