Upwork (NASDAQ:UPWK) Issues FY 2026 Earnings Guidance

Upwork (NASDAQ:UPWK) issued an update on its FY 2026 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 1.380-1.430 for the period, compared to the consensus estimate of 1.520. The company issued revenue guidance of $730.0 million-$750.0 million, compared to the consensus revenue estimate of $776.0 million. Upwork also updated its Q3 2026 guidance to 0.310-0.330 EPS.

Analyst Ratings Changes

Several analysts have commented on UPWK shares. Roth Capital cut shares of Upwork from a “buy” rating to a “neutral” rating and set a $10.00 target price for the company. in a research report on Friday, May 8th. Wall Street Zen cut Upwork from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Citigroup cut their price target on shares of Upwork from $17.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, May 21st. Canaccord Genuity Group lowered shares of Upwork from a “buy” rating to a “hold” rating and cut their target price for the stock from $22.00 to $10.00 in a report on Friday, May 8th. Finally, Royal Bank Of Canada lowered their price objective on shares of Upwork from $20.00 to $9.00 and set a “sector perform” rating for the company in a research report on Monday, May 11th. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $15.50.

Upwork Price Performance

Shares of Upwork stock traded up $0.16 on Monday, hitting $9.83. The company had a trading volume of 6,596,540 shares, compared to its average volume of 3,767,414. The firm has a market capitalization of $1.21 billion, a P/E ratio of 12.14 and a beta of 0.99. Upwork has a twelve month low of $7.44 and a twelve month high of $22.84. The stock has a 50-day moving average of $8.86 and a 200-day moving average of $11.28.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. Upwork had a net margin of 13.81% and a return on equity of 17.92%. Upwork has set its FY 2026 guidance at 1.380-1.430 EPS and its Q3 2026 guidance at 0.310-0.330 EPS.

Insider Transactions at Upwork

In related news, CFO Erica Gessert sold 9,169 shares of Upwork stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $8.15, for a total value of $74,727.35. Following the sale, the chief financial officer owned 341,609 shares of the company’s stock, valued at approximately $2,784,113.35. This trade represents a 2.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Hayden Brown sold 23,468 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $8.15, for a total value of $191,264.20. Following the transaction, the chief executive officer directly owned 797,495 shares of the company’s stock, valued at approximately $6,499,584.25. This trade represents a 2.86% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 34,471 shares of company stock worth $281,446. Corporate insiders own 4.90% of the company’s stock.

Upwork News Roundup

Here are the key news stories impacting Upwork this week:

• Positive Sentiment: Q2 earnings exceeded expectations. Upwork reported adjusted earnings of $0.41 per share, ahead of the $0.34 analyst consensus. The company also posted a 13.81% net margin and 17.92% return on equity, supporting the case that its profitability initiatives are gaining traction. Upwork: Q2 Earnings Snapshot
• Positive Sentiment: Upwork launched an MCP server to connect AI tools directly with its marketplace. The service allows clients to post jobs, identify freelancers, review proposals and manage engagements through AI tools such as Claude, ChatGPT and Cursor. Freelancers can also receive matched opportunities and automate proposal workflows. The initiative could increase marketplace usage and position Upwork as a source of human expertise for AI-driven work. Upwork Launches MCP Server
• Neutral Sentiment: Management emphasized the combination of human talent and artificial intelligence. Upwork is presenting its marketplace as infrastructure for companies that need people to complete or validate AI-generated work. While this expands the company’s strategic opportunity, the financial contribution from the new AI integrations remains uncertain. Upwork Talent Is Now Everywhere AI Works
• Negative Sentiment: Forward guidance fell well below Wall Street expectations. Upwork forecast third-quarter EPS of $0.31–$0.33 versus consensus of $0.41 and revenue of $176–$184 million versus $193.8 million expected. Full-year 2026 EPS guidance of $1.38–$1.43 and revenue guidance of $730–$750 million also trailed consensus estimates of $1.52 and $776 million, respectively. The outlook miss is the main reason investors were disappointed despite the Q2 earnings beat. Upwork Reports Second Quarter 2026 Financial Results

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its stake in Upwork by 68.9% in the 1st quarter. Royal Bank of Canada now owns 191,587 shares of the company’s stock valued at $2,501,000 after buying an additional 78,123 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Upwork by 5.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,466 shares of the company’s stock worth $972,000 after purchasing an additional 3,599 shares during the last quarter. Millennium Management LLC raised its stake in shares of Upwork by 364.0% during the 1st quarter. Millennium Management LLC now owns 789,638 shares of the company’s stock worth $10,305,000 after purchasing an additional 619,459 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Upwork by 10.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 338,680 shares of the company’s stock valued at $4,420,000 after acquiring an additional 31,378 shares during the last quarter. Finally, Creative Planning grew its position in shares of Upwork by 16.9% in the 2nd quarter. Creative Planning now owns 29,239 shares of the company’s stock valued at $393,000 after acquiring an additional 4,230 shares during the period. Institutional investors and hedge funds own 77.71% of the company’s stock.

Upwork Company Profile

Upwork Inc operates a leading online talent marketplace that connects businesses with independent professionals worldwide. Through its digital platform, the company enables clients across industries—including technology, marketing, creative services and customer support—to source, hire and manage freelance talent on demand. Key features of the Upwork platform include streamlined job posting, proposal evaluation, time-tracking tools, invoicing and secure payment processing, all designed to simplify collaboration between clients and remote workers.

The company traces its roots to the merger of two pioneering freelance marketplaces, Elance (founded in 1998) and oDesk (founded in 2003), which combined in 2015 to form a unified entity.