Why UPST hit a new high

$Upstart (UPST.US)$ The high momentum financial technology company Upstart is another matter entirely. Not only did the stock price close up by more than 9%, but the stock also broke the previous record high, with an intraday trading price of as high as $325 per share. Remember, this is a stock that went public only 10 months ago, and the IPO price is $20.

Several of its catalysts are worth noting. First, WSFS Bank, a banking institution that has been in business since 1832, just announced yesterday morning that it launched a personal loan platform supported by Upstart loan technology. Since Upstart does not actually borrow money, but helps banks to facilitate loans, this will help the company's future growth.

Second, due to the overall market sell-off, on Monday, Barclays raised Upstart's target price to $345 per share and maintained its Overweight rating on the stock. Although not necessarily paying too much attention to analyst ratings and target prices, it is important. So far, among the major Wall Street investment companies that cover the company, $345 is the highest target price.

Article excerpted from the US Stock Research Agency