Upwork (NASDAQ:UPWK) Announces Earnings Results

Upwork (NASDAQ:UPWK) released its quarterly earnings data on Monday. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.04), Zacks reports. Upwork had a return on equity of 44.83% and a net margin of 31.75%.During the same quarter last year, the company posted $0.30 EPS. Upwork’s quarterly revenue was up 4.1% on a year-over-year basis. Upwork updated its FY 2025 guidance to 1.350-1.370 EPS and its Q4 2025 guidance to 0.310-0.330 EPS.

Upwork Price Performance

NASDAQ UPWK opened at $15.63 on Tuesday. The company has a quick ratio of 3.36, a current ratio of 3.36 and a debt-to-equity ratio of 0.59. The company has a market cap of $2.07 billion, a PE ratio of 8.98 and a beta of 1.57. Upwork has a 52 week low of $11.13 and a 52 week high of $20.54. The firm’s 50-day simple moving average is $17.04 and its two-hundred day simple moving average is $15.16.

Upwork announced that its Board of Directors has initiated a share buyback plan on Wednesday, September 3rd that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 4.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Insider Activity at Upwork

In related news, insider Dave Bottoms sold 10,014 shares of Upwork stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $19.96, for a total value of $199,879.44. Following the completion of the transaction, the insider directly owned 345 shares in the company, valued at approximately $6,886.20. The trade was a 96.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Erica Gessert sold 8,730 shares of the stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $19.16, for a total value of $167,266.80. Following the sale, the chief financial officer owned 218,605 shares in the company, valued at approximately $4,188,471.80. This represents a 3.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 222,576 shares of company stock worth $3,670,318. 7.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Upwork

Several hedge funds and other institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its position in shares of Upwork by 19,361.1% in the second quarter. EverSource Wealth Advisors LLC now owns 3,503 shares of the company’s stock valued at $47,000 after acquiring an additional 3,485 shares during the period. Tower Research Capital LLC TRC increased its holdings in Upwork by 1,333.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 13,972 shares of the company’s stock worth $188,000 after acquiring an additional 12,997 shares during the period. Russell Investments Group Ltd. lifted its stake in Upwork by 85.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 15,850 shares of the company’s stock worth $213,000 after purchasing an additional 7,319 shares in the last quarter. Cetera Investment Advisers boosted its holdings in Upwork by 51.4% in the 2nd quarter. Cetera Investment Advisers now owns 16,363 shares of the company’s stock valued at $220,000 after purchasing an additional 5,553 shares during the period. Finally, Caxton Associates LLP purchased a new position in shares of Upwork during the 2nd quarter valued at $241,000. 77.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wall Street Zen raised shares of Upwork from a “hold” rating to a “buy” rating in a research report on Sunday, September 28th. JMP Securities boosted their price objective on Upwork from $20.00 to $27.00 and gave the stock a “market outperform” rating in a report on Wednesday, September 24th. Citigroup reissued an “outperform” rating on shares of Upwork in a report on Wednesday, September 24th. UBS Group set a $21.00 price objective on shares of Upwork and gave the stock a “buy” rating in a report on Tuesday, October 28th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Upwork in a research note on Wednesday, October 8th. Nine analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.42.

Upwork Company Profile

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.