Piper Sandler Cuts Upstart Price Target to $46: Was the Q1 EBITDA Miss the First Crack?

Piper Sandler cut its price target on Upstart Holdings to $46 from $56, a $10 reduction, while reiterating an Overweight rating. The note is mildly cautious but still constructive, signaling tempered expectations rather than a change in thesis. The update is likely to influence sentiment on UPST more than the broader market.

Analysis

Piper Sandler cut its price target on Upstart Holdings to $46 from $56, a $10 reduction, while reiterating an Overweight rating. The note is mildly cautious but still constructive, signaling tempered expectations rather than a change in thesis. The update is likely to influence sentiment on UPST more than the broader market.