Upwork Inc. (NASDAQ:UPWK) Receives $15.27 Average Target Price from Analysts

Shares of Upwork Inc. (NASDAQ:UPWK) have been given an average recommendation of “Moderate Buy” by the eleven ratings firms that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $15.27.

A number of research firms have recently weighed in on UPWK. The Goldman Sachs Group dropped their price target on shares of Upwork from $24.00 to $21.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Royal Bank of Canada dropped their price target on shares of Upwork from $15.00 to $11.00 and set a “sector perform” rating for the company in a research report on Thursday, August 8th. Roth Mkm dropped their price target on shares of Upwork from $19.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Piper Sandler dropped their price target on shares of Upwork from $20.00 to $13.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Finally, Citigroup dropped their price target on shares of Upwork from $13.00 to $11.00 and set a “neutral” rating for the company in a research report on Wednesday, September 25th.

Insiders Place Their Bets

In other Upwork news, CFO Erica Gessert sold 4,491 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $10.57, for a total transaction of $47,469.87. Following the sale, the chief financial officer now owns 111,255 shares of the company’s stock, valued at approximately $1,175,965.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Upwork news, Director Elizabeth A. Nelson sold 75,000 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $10.54, for a total transaction of $790,500.00. Following the sale, the director now owns 48,915 shares of the company’s stock, valued at approximately $515,564.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Erica Gessert sold 4,491 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $10.57, for a total transaction of $47,469.87. Following the sale, the chief financial officer now directly owns 111,255 shares in the company, valued at approximately $1,175,965.35. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 176,560 shares of company stock valued at $1,797,924. 7.60% of the stock is currently owned by insiders.

Institutional Trading of Upwork

Several institutional investors have recently modified their holdings of the business. Essex Investment Management Co. LLC grew its stake in shares of Upwork by 56.2% in the first quarter. Essex Investment Management Co. LLC now owns 4,724 shares of the company’s stock worth $58,000 after purchasing an additional 1,700 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Upwork by 8.6% in the first quarter. ProShare Advisors LLC now owns 22,483 shares of the company’s stock worth $276,000 after purchasing an additional 1,771 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Upwork by 0.6% in the second quarter. Federated Hermes Inc. now owns 318,659 shares of the company’s stock worth $3,426,000 after purchasing an additional 1,996 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Upwork by 3.2% in the second quarter. The Manufacturers Life Insurance Company now owns 66,809 shares of the company’s stock worth $718,000 after purchasing an additional 2,063 shares during the last quarter. Finally, Quarry LP grew its stake in shares of Upwork by 104.2% in the second quarter. Quarry LP now owns 4,350 shares of the company’s stock worth $47,000 after purchasing an additional 2,220 shares during the last quarter. Institutional investors own 77.71% of the company’s stock.

Upwork Trading Up 0.3 %

Shares of UPWK stock opened at $10.29 on Friday. The firm has a 50 day moving average price of $10.00 and a two-hundred day moving average price of $10.81. The company has a quick ratio of 3.00, a current ratio of 3.00 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $1.36 billion, a PE ratio of 18.71 and a beta of 1.54. Upwork has a 12-month low of $8.43 and a 12-month high of $16.36.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.03. Upwork had a net margin of 10.00% and a return on equity of 20.75%. The firm had revenue of $193.13 million during the quarter, compared to the consensus estimate of $193.05 million. During the same period last year, the business posted ($0.03) earnings per share. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, analysts predict that Upwork will post 0.51 earnings per share for the current year.

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.