Wall Street analysts predict that Upwork Inc. (NASDAQ:UPWK – Get Rating) will report ($0.13) earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Upwork’s earnings, with the highest EPS estimate coming in at ($0.11) and the lowest estimate coming in at ($0.16). Upwork reported earnings per share of ($0.06) in the same quarter last year, which suggests a negative year-over-year growth rate of 116.7%. The company is expected to announce its next quarterly earnings report on Tuesday, May 3rd.
According to Zacks, analysts expect that Upwork will report full-year earnings of ($0.16) per share for the current year, with EPS estimates ranging from ($0.26) to ($0.11). For the next financial year, analysts expect that the company will post earnings of $0.28 per share, with EPS estimates ranging from $0.20 to $0.33. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Upwork.
Upwork (NASDAQ:UPWK – Get Rating) last issued its quarterly earnings results on Thursday, February 10th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.01). Upwork had a negative return on equity of 19.76% and a negative net margin of 11.19%. The firm had revenue of $136.86 million for the quarter, compared to the consensus estimate of $131.79 million. During the same period last year, the firm earned $0.01 EPS. The company’s revenue for the quarter was up 28.9% on a year-over-year basis.
UPWK has been the topic of several analyst reports. Zacks Investment Research upgraded Upwork from a “sell” rating to a “hold” rating in a report on Saturday, March 12th. Needham & Company LLC decreased their price objective on Upwork from $60.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, February 11th. Canaccord Genuity Group decreased their price objective on Upwork from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Friday. Canaccord Genuity Group decreased their price objective on Upwork from $45.00 to $40.00 in a report on Friday. Finally, Stifel Nicolaus decreased their price objective on Upwork from $40.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, February 11th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Upwork has an average rating of “Buy” and a consensus target price of $47.58.
UPWK stock traded up $0.98 during mid-day trading on Friday, hitting $22.32. 1,565,890 shares of the stock were exchanged, compared to its average volume of 1,717,781. The company has a debt-to-equity ratio of 2.16, a current ratio of 3.98 and a quick ratio of 3.98. The business has a fifty day moving average price of $24.68 and a 200 day moving average price of $37.09. Upwork has a 12 month low of $17.85 and a 12 month high of $64.49. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of -50.73 and a beta of 1.94.
In other Upwork news, CEO Hayden Brown sold 31,041 shares of the company’s stock in a transaction that occurred on Monday, December 20th. The stock was sold at an average price of $33.35, for a total transaction of $1,035,217.35. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Eric Gilpin sold 4,019 shares of the company’s stock in a transaction that occurred on Friday, February 18th. The stock was sold at an average price of $24.41, for a total value of $98,103.79. The disclosure for this sale can be found here. Insiders have sold a total of 50,320 shares of company stock worth $1,508,326 in the last quarter. Company insiders own 25.30% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Upwork by 6.8% in the 3rd quarter. BlackRock Inc. now owns 8,009,219 shares of the company’s stock worth $360,654,000 after purchasing an additional 509,479 shares in the last quarter. Baillie Gifford & Co. lifted its position in Upwork by 5.0% in the 4th quarter. Baillie Gifford & Co. now owns 6,306,603 shares of the company’s stock valued at $215,434,000 after acquiring an additional 300,589 shares in the last quarter. Geode Capital Management LLC lifted its position in Upwork by 19.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,337,110 shares of the company’s stock valued at $105,240,000 after acquiring an additional 385,715 shares in the last quarter. State Street Corp lifted its position in Upwork by 2.7% in the 4th quarter. State Street Corp now owns 2,306,255 shares of the company’s stock valued at $78,782,000 after acquiring an additional 60,854 shares in the last quarter. Finally, ATOMVEST Ltd lifted its position in Upwork by 4.0% in the 3rd quarter. ATOMVEST Ltd now owns 1,892,312 shares of the company’s stock valued at $85,211,000 after acquiring an additional 72,000 shares in the last quarter. 69.59% of the stock is currently owned by hedge funds and other institutional investors.
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 sales and marketing, customer service, data science and analytics, design and creative, web, mobile, and software development.