Upwork Inc. (NASDAQ:UPWK – Get Rating) has been given a consensus recommendation of “Buy” by the fifteen research firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $37.71.
UPWK has been the topic of several analyst reports. Canaccord Genuity Group dropped their target price on shares of Upwork from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, March 18th. Stifel Nicolaus downgraded shares of Upwork from a “buy” rating to a “hold” rating and dropped their target price for the stock from $30.00 to $20.00 in a research note on Monday, May 16th. Canaccord Genuity Group lowered their price objective on shares of Upwork from $40.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, April 28th. Piper Sandler lowered their price objective on shares of Upwork from $40.00 to $30.00 in a research report on Tuesday, March 8th. Finally, Jefferies Financial Group lowered their price objective on shares of Upwork from $24.00 to $20.00 in a research report on Tuesday, May 31st.
NASDAQ:UPWK opened at $18.86 on Tuesday. Upwork has a one year low of $14.85 and a one year high of $64.49. The company has a debt-to-equity ratio of 2.25, a current ratio of 3.61 and a quick ratio of 3.61. The company’s 50-day simple moving average is $18.99 and its 200 day simple moving average is $24.12. The firm has a market capitalization of $2.45 billion, a P/E ratio of -33.09 and a beta of 1.85.
Upwork (NASDAQ:UPWK – Get Rating) last issued its earnings results on Wednesday, April 27th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.10. The firm had revenue of $141.34 million for the quarter, compared to the consensus estimate of $133.70 million. Upwork had a negative net margin of 13.79% and a negative return on equity of 27.03%. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. On average, equities research analysts expect that Upwork will post -0.79 earnings per share for the current fiscal year.
In other news, Director Leela Srinivasan sold 3,896 shares of the stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $20.06, for a total value of $78,153.76. Following the completion of the sale, the director now directly owns 39,210 shares of the company’s stock, valued at $786,552.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Hayden Brown sold 1,405 shares of the stock in a transaction on Monday, April 18th. The stock was sold at an average price of $20.02, for a total transaction of $28,128.10. Following the completion of the sale, the chief executive officer now directly owns 798,100 shares of the company’s stock, valued at $15,977,962. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,542 shares of company stock valued at $383,345. 8.90% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in UPWK. Qube Research & Technologies Ltd purchased a new position in Upwork during the fourth quarter valued at $1,472,000. BNP Paribas Arbitrage SA lifted its position in Upwork by 35.7% during the fourth quarter. BNP Paribas Arbitrage SA now owns 81,247 shares of the company’s stock valued at $2,775,000 after purchasing an additional 21,394 shares during the last quarter. Wealthsource Partners LLC lifted its position in Upwork by 16.0% during the third quarter. Wealthsource Partners LLC now owns 13,012 shares of the company’s stock valued at $586,000 after purchasing an additional 1,791 shares during the last quarter. Janus Henderson Group PLC bought a new position in Upwork during the third quarter valued at $511,000. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Upwork by 57.2% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 7,640 shares of the company’s stock worth $261,000 after acquiring an additional 2,780 shares during the last quarter. 73.43% of the stock is owned by hedge funds and other institutional investors.
About Upwork (Get Rating)
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 sales and marketing, customer service, data science and analytics, design and creative, web, mobile, and software development.