Upwork Inc. (NASDAQ:UPWK) Receives $18.36 Average Target Price from Analysts

Shares of Upwork Inc. (NASDAQ:UPWKGet Free Report) have received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $18.36.

A number of research analysts recently issued reports on UPWK shares. Citigroup boosted their target price on shares of Upwork from $11.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, November 29th. Piper Sandler reiterated an “overweight” rating and set a $18.00 price target (up from $13.00) on shares of Upwork in a research report on Thursday, November 7th. UBS Group upped their price objective on Upwork from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Roth Mkm lifted their target price on shares of Upwork from $13.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, BTIG Research raised their price target on shares of Upwork from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.

Get Our Latest Stock Report on Upwork

Upwork Trading Down 1.8 %

NASDAQ UPWK opened at $16.11 on Wednesday. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 0.87. The company has a fifty day simple moving average of $16.02 and a two-hundred day simple moving average of $12.41. Upwork has a 12-month low of $8.43 and a 12-month high of $18.14. The stock has a market cap of $2.15 billion, a P/E ratio of 25.57 and a beta of 1.58.

Upwork (NASDAQ:UPWKGet Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. Upwork had a return on equity of 22.84% and a net margin of 11.26%. The firm had revenue of $193.78 million for the quarter, compared to analyst estimates of $185.55 million. During the same quarter in the prior year, the firm earned $0.12 earnings per share. Upwork’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, analysts forecast that Upwork will post 0.65 earnings per share for the current year.

Insider Transactions at Upwork

In other Upwork news, CFO Erica Gessert sold 19,816 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $15.13, for a total value of $299,816.08. Following the transaction, the chief financial officer now directly owns 128,939 shares in the company, valued at $1,950,847.07. The trade was a 13.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Dave Bottoms sold 5,360 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now owns 9,642 shares of the company’s stock, valued at $164,974.62. This represents a 35.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 213,813 shares of company stock worth $3,525,935 in the last ninety days. Insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Upwork

Several large investors have recently modified their holdings of UPWK. Canada Pension Plan Investment Board raised its holdings in Upwork by 186.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 306,900 shares of the company’s stock valued at $3,299,000 after buying an additional 199,900 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Upwork during the third quarter valued at about $858,000. Victory Capital Management Inc. lifted its holdings in shares of Upwork by 133.5% in the 3rd quarter. Victory Capital Management Inc. now owns 116,899 shares of the company’s stock worth $1,222,000 after acquiring an additional 66,842 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Upwork during the 2nd quarter worth approximately $1,637,000. Finally, BNP Paribas Financial Markets increased its holdings in Upwork by 40.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 251,714 shares of the company’s stock valued at $2,630,000 after purchasing an additional 73,104 shares during the last quarter. Institutional investors and hedge funds own 77.71% of the company’s stock.

About Upwork

(Get Free Report

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.

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Analyst Recommendations for Upwork (NASDAQ:UPWK)

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