Upstart (UPST)
AI lending marketplace spanning personal, auto, and home-equity credit.
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Runs an AI lending marketplace for personal loans, small-dollar relief loans, auto credit, and home equity lines, while also supplying auto-dealer retail software. Revenue comes mainly from platform, referral, and servicing fees; origination volume depends on lending partners and institutional investors buying or retaining loans.
Connects consumers seeking credit with banks, credit unions, and institutional investors through an AI-based lending marketplace. Its platform supports unsecured personal loans, including small-dollar relief loans; auto refinance, retail, and auto-secured personal loans; home equity lines of credit; and dealer-facing automotive retail software. Proprietary models also automate underwriting, verification, fraud detection, and much of the origination process.
Generates revenue entirely in the United States from platform use, borrower referrals, and loan servicing. Personal Lending is its only reportable segment, while Auto Lending and Other remain separate operating segments. Loan funding comes from lending partners, institutional investors, and, in some cases, its own balance sheet, tying marketplace volume to outside capital availability and credit performance.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 8, 2026 | Loop Capital Markets | Initiate | Rating: —Target: $24 | Target: $34 |
| Aug 5, 2026 | Piper Sandler | Reiterate | Rating: —Target: $46 | Target: $51 |
| Jul 9, 2026 | Goldman Sachs | Reiterate | Rating: —Target: $35 | Target: $39 |
| Jul 7, 2026 | Needham | Reiterate | Rating: —Target: $37 | Target: $40 |
| Jun 9, 2026 | Jefferies | Target | Target: $85 | Target: $30 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $456.0M · Total debt $2.03B · Total assets $3.17B · Shareholders' equity $797.5M
- Revenue
- $377.2M
- Operating income
- $17.2M
- Net income
- $16.5M
No dividends on record.
| Institutions | 62.32% | 60.65M shares | |
|---|---|---|---|
| 420 holders · as of Jun 30, 2026 | |||
| Insiders | 14.89% | 14.49M shares | |
| 14 holders · as of Sep 10, 2026 | |||
| Strategic holders | 5.70% | 5.55M shares | |
| 1 holder · as of Jan 29, 2024 | |||
| Other | 17.09% | 16.63M shares | |
| remainder | |||
97.31M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Dave Girouard1Insiderdirector, 10 percent owner | 13.76% | 12.75M | filed May 8, 2026 |
BlackRock, Inc.Institution | 8.10% | 7.88M | as of Jun 30, 2026 |
BlackRock, Inc.Strategic | 5.70% | 5.55M | filed Jan 29, 2024 |
Vanguard Portfolio Management LLCInstitution | 3.84% | 3.74M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 3.80% | 3.70M | as of Jun 30, 2026 |
- Dave Girouard's transaction reports restate only vehicles that traded; the 2022 ownership statement (12.75M) plus the 641.0K net shares acquired since is used instead.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 10, 2026 | Paul Gu | director, officer: Chief Executive Officer | +50,000 | $25.55 |
| Sep 8, 2026 | Sanjay Datta | officer: President, Capital& Enterprise | −116,000 | $27.29 |
| Aug 25, 2026 | Natalia Mirgorodskaya | officer: See Remarks | −913 | $30.03 |
| Aug 20, 2026 | Natalia Mirgorodskaya | officer: See Remarks | −586 | $28.09 |
| Aug 20, 2026 | Scott Darling | officer: Chief Legal Officer | −7,696 | $28.09 |
- LendingClub
Direct digital-bank peer in personal loans and auto refinance
- SoFi
Broad consumer-finance app with personal-loan and BNPL overlap
- OneMain
Non-bank consumer lender across personal loans and auto finance
- Affirm
BNPL and pay-over-time network for point-of-sale credit
- FICO
Credit-score and analytics infrastructure for lender underwriting
- Synchrony Financial
Retail-card and Pay Later lender competing in purchase credit
- Ally Financial
Auto-finance incumbent relevant to Upstart's auto expansion
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Upstart | $25.67 | +0.36% | $2.45B | 50.0 | 14.4 | 1.9 | +41.8% |
| LendingClub | $19.21 | +2.13% | $2.22B | 11.6 | 9.8 | 1.8 | −15.9% |
| SoFi | $17.13 | +0.93% | $21.77B | 35.4 | 23.4 | 3.9 | +41.0% |
| OneMain | $59.45 | −1.64% | $6.98B | 9.1 | 7.5 | 1.1 | −15.5% |
| Affirm | $72.17 | +1.58% | $23.79B | 12.9 | 37.8 | 5.7 | +33.0% |
| FICO | $919.31 | −0.56% | $19.97B | 26.7 | 18.2 | 8.3 | +25.7% |
| Synchrony Financial | $73.45 | −2.07% | $24.40B | 7.7 | 7.7 | 1.3 | −21.1% |
| Ally Financial | $39.40 | −1.23% | $12.13B | 9.4 | 6.6 | 0.8 | −0.3% |
| Median | 11.6 | 9.8 | 1.8 | −0.3% |