Upwork Inc (NASDAQ:UPWK) has received an average rating of “Buy” from the eight research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $21.60.
Several brokerages recently commented on UPWK. First Analysis initiated coverage on Upwork in a report on Thursday, October 31st. They set an “outperform” rating and a $18.00 target price on the stock. ValuEngine upgraded Upwork from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Royal Bank of Canada lowered their price objective on shares of Upwork to $20.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Zacks Investment Research lowered shares of Upwork from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Finally, Citigroup reduced their target price on shares of Upwork from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th.
NASDAQ:UPWK opened at $11.32 on Monday. The business’s 50-day moving average is $13.07 and its two-hundred day moving average is $14.60. The firm has a market capitalization of $1.28 billion, a PE ratio of -29.79 and a beta of 1.27. Upwork has a 12 month low of $10.94 and a 12 month high of $25.00. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.92 and a quick ratio of 1.92.
Upwork (NASDAQ:UPWK) last issued its earnings results on Wednesday, November 6th. The company reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.02. Upwork had a negative return on equity of 5.93% and a negative net margin of 5.17%. The company had revenue of $78.80 million during the quarter, compared to the consensus estimate of $77.75 million. During the same quarter in the prior year, the business earned ($0.04) earnings per share. The company’s revenue was up 22.9% compared to the same quarter last year. Equities analysts anticipate that Upwork will post -0.15 EPS for the current year.
In other news, CEO Stephane Kasriel sold 60,000 shares of Upwork stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $11.70, for a total transaction of $702,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Han-Shen Yuan sold 150,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $14.69, for a total value of $2,203,500.00. Over the last three months, insiders sold 403,242 shares of company stock valued at $5,676,018. 40.81% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. acquired a new stake in Upwork during the 2nd quarter valued at approximately $20,650,000. State of Tennessee Treasury Department purchased a new stake in Upwork during the 3rd quarter worth approximately $232,000. Allianz Asset Management GmbH increased its holdings in Upwork by 21.5% during the 2nd quarter. Allianz Asset Management GmbH now owns 80,037 shares of the company’s stock worth $1,287,000 after purchasing an additional 14,154 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Upwork by 37.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 344,363 shares of the company’s stock valued at $5,538,000 after purchasing an additional 94,445 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Upwork by 163.4% in the 2nd quarter. Vanguard Group Inc. now owns 5,544,244 shares of the company’s stock valued at $89,151,000 after purchasing an additional 3,439,563 shares in the last quarter. 52.33% of the stock is owned by hedge funds and other institutional investors.
Upwork Inc operates an online marketplace that enables businesses (clients) to find and work with various independent professionals and agencies (freelancers). The company's platform provides access to talent with approximately 5,000 skills across approximately 70 categories, including content marketing, customer service, data science and analytics, graphic design, mobile development, sales, and Web development.
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