Upstart Holdings, Inc. (NASDAQ:UPST) is a financial technology company that operates an artificial intelligence (AI) lending platform. The platform connects consumers seeking loans with its network of bank and credit union partners. Upstart Holdings currently has a market capitalization of approximately $2.97 billion, with its stock trading at $31.06.
On June 9, 2026, the investment firm Jefferies maintained its "Hold" rating on Upstart Holdings. A Hold rating suggests that investors should not buy or sell the stock at its current level. Jefferies also raised its price target, which is an analyst's projection of a stock's future price, to $30.00 from $27.00.
This cautious rating comes as the company faces legal challenges. As highlighted by Newsfile Corp, law firms like The Rosen Law Firm and Bronstein, Gewirtz & Grossman, LLC, have filed class action lawsuits. These lawsuits are for investors who purchased Upstart Holdings securities between May 14, 2025, and November 4, 2025.
The lawsuits allege that Upstart Holdings made misleading statements about its business. Specifically, they claim the company's "Model 22" AI did not perform as expected. It is alleged that the model overreacted to negative economic information, which affected its ability to accurately assess risk for lenders using the platform.
Reflecting recent market activity, Upstart Holdings has traded between a low of $29.65 and a high of $32.40 during the day. Over the past year, the stock has seen significant fluctuation, with a high of $87.30 and a low of $23.97, showing a wide range in investor sentiment over the period.
