Upwork Inc. (NASDAQ:UPWK) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Upwork Inc. (NASDAQ:UPWK) have received an average rating of “Moderate Buy” from the eleven analysts that are covering the company, MarketBeat Ratings 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 price objective among brokers that have covered the stock in the last year is $15.27.

Several equities analysts have commented on UPWK shares. UBS Group dropped their price target on shares of Upwork from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Canaccord Genuity Group dropped their price target on shares of Upwork from $19.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Citigroup dropped their price target on shares of Upwork from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 25th. The Goldman Sachs Group dropped their price target on shares of Upwork from $24.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Piper Sandler dropped their price target on shares of Upwork from $20.00 to $13.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th.

Insider Buying and Selling

In related news, VP Dave Bottoms sold 5,818 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $9.81, for a total transaction of $57,074.58. Following the completion of the sale, the vice president now directly owns 5,818 shares of the company’s stock, valued at $57,074.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP Dave Bottoms sold 5,818 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $9.81, for a total transaction of $57,074.58. Following the completion of the sale, the vice president now directly owns 5,818 shares of the company’s stock, valued at $57,074.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Erica Gessert sold 4,491 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $10.57, for a total value of $47,469.87. Following the sale, the chief financial officer now directly owns 111,255 shares of the company’s stock, valued at approximately $1,175,965.35. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 176,560 shares of company stock valued at $1,797,924 over the last three months. 7.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of UPWK. Goldman Sachs Group Inc. raised its position in Upwork by 239.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,252,227 shares of the company’s stock worth $33,491,000 after acquiring an additional 1,589,693 shares in the last quarter. Vanguard Group Inc. raised its position in Upwork by 4.5% in the fourth quarter. Vanguard Group Inc. now owns 15,226,218 shares of the company’s stock worth $226,414,000 after acquiring an additional 660,966 shares in the last quarter. Los Angeles Capital Management LLC raised its position in Upwork by 38.3% in the first quarter. Los Angeles Capital Management LLC now owns 139,140 shares of the company’s stock worth $1,706,000 after acquiring an additional 38,518 shares in the last quarter. Strategic Planning Group LLC increased its position in shares of Upwork by 16.8% in the first quarter. Strategic Planning Group LLC now owns 41,110 shares of the company’s stock valued at $504,000 after buying an additional 5,902 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new position in shares of Upwork in the first quarter valued at $141,000. Hedge funds and other institutional investors own 77.71% of the company’s stock.

Upwork Stock Down 1.1 %

UPWK stock opened at $10.26 on Friday. The company’s 50 day moving average price is $9.98 and its 200 day moving average price is $10.83. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.00 and a current ratio of 3.00. Upwork has a fifty-two week low of $8.43 and a fifty-two week high of $16.36. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 18.65 and a beta of 1.54.

Upwork (NASDAQ:UPWK) last released its earnings results on Wednesday, August 7th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $193.05 million. During the same period in the prior year, the firm earned ($0.03) earnings per share. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, equities research analysts anticipate that Upwork will post 0.51 EPS for the current fiscal 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.