Upstart price target raised to $108 from $100 at Needham

Needham analyst Kyle Peterson raised the firm’s price target on Upstart (UPST) to $108 from $100 and keeps a Buy rating on the shares. The company’s Q4 results smashed through Street expectations on the top and bottom line, as robust loan growth and good expense discipline drove an outsized beat, the analyst tells investors in a research note. Despite the shares being up 25% after-hours, the firm remains positive on the stock as a good fit for FinTech growth investors given the accelerating growth, strong new product pipeline, and the increasingly large and diversified funding base, Needham added.