Upwork (NASDAQ:UPWK) Price Target Lowered to $19.00 at Roth Mkm

Upwork (NASDAQ:UPWK) had its target price cut by Roth Mkm from $20.00 to $19.00 in a report released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also recently issued reports on UPWK. BTIG Research lifted their price objective on Upwork from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Jefferies Financial Group lifted their price target on Upwork from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Canaccord Genuity Group increased their price objective on shares of Upwork from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC raised their price objective on shares of Upwork from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday. Finally, UBS Group upped their target price on shares of Upwork from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $18.91.

Upwork Price Performance

UPWK stock opened at $16.56 on Thursday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 3.18 and a current ratio of 3.18. The firm has a market cap of $2.21 billion, a P/E ratio of 26.29 and a beta of 1.57. The firm’s fifty day moving average is $16.38 and its 200 day moving average is $13.43. Upwork has a 52 week low of $8.43 and a 52 week high of $18.14.

Upwork (NASDAQ:UPWK) last announced its earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.79. Upwork had a net margin of 11.26% and a return on equity of 22.84%. Research analysts predict that Upwork will post 0.65 earnings per share for the current year.

Insider Activity at Upwork

In related news, VP Dave Bottoms sold 5,360 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $17.11, for a total transaction of $91,709.60. Following the completion of the sale, the vice president now owns 9,642 shares in the company, valued at approximately $164,974.62. This represents a 35.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hayden Brown sold 30,672 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $15.13, for a total value of $464,067.36. Following the completion of the transaction, the chief executive officer now directly owns 1,196,221 shares in the company, valued at $18,098,823.73. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 183,203 shares of company stock worth $3,042,191 over the last quarter. Company insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Upwork

Several institutional investors have recently made changes to their positions in the business. KBC Group NV increased its holdings in Upwork by 45.4% during the third quarter. KBC Group NV now owns 4,791 shares of the company’s stock valued at $50,000 after buying an additional 1,497 shares during the last quarter. CWM LLC grew its position in shares of Upwork by 71.9% during the 3rd quarter. CWM LLC now owns 5,896 shares of the company’s stock valued at $62,000 after acquiring an additional 2,467 shares during the period. Quarry LP grew its position in shares of Upwork by 42.6% during the 3rd quarter. Quarry LP now owns 6,201 shares of the company’s stock valued at $65,000 after acquiring an additional 1,851 shares during the period. Nkcfo LLC purchased a new stake in shares of Upwork in the 4th quarter worth $82,000. Finally, SBI Securities Co. Ltd. bought a new position in Upwork in the 4th quarter worth $84,000. Institutional investors own 77.71% of the company’s stock.

About Upwork

Upwork Inc, together with its subsidiaries, operates a work marketplace that connects businesses with various independent professionals and agencies in the United States, India, the Philippines, and internationally. The company’s work marketplace provides access to talent with various skills across a range of categories, including administrative support, sales and marketing, design and creative, and customer service, as well as web, mobile, and software development.