Upwork (NASDAQ:UPWK) Given New $20.00 Price Target at Jefferies Financial Group

Upwork (NASDAQ:UPWK) had its target price boosted by Jefferies Financial Group from $19.00 to $20.00 in a report issued on Monday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also recently commented on UPWK. Citigroup raised their target price on Upwork from $11.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. Piper Sandler restated an “overweight” rating and set a $18.00 price objective (up from $13.00) on shares of Upwork in a research report on Thursday, November 7th. Canaccord Genuity Group upped their target price on Upwork from $15.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, November 7th. BTIG Research raised their price target on shares of Upwork from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group boosted their price objective on shares of Upwork from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Upwork presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.36.

Upwork Trading Up 0.6 %

Shares of UPWK opened at $16.20 on Monday. The business’s 50-day moving average price is $16.09 and its 200 day moving average price is $12.48. 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 stock has a market capitalization of $2.17 billion, a P/E ratio of 25.71 and a beta of 1.59. Upwork has a 1-year low of $8.43 and a 1-year high of $18.14.

Upwork (NASDAQ:UPWK) last released its earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.03. Upwork had a net margin of 11.26% and a return on equity of 22.84%. The business had revenue of $193.78 million for the quarter, compared to the consensus estimate of $185.55 million. During the same period last year, the firm posted $0.12 earnings per share. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. Analysts expect that Upwork will post 0.65 earnings per share for the current year.

Insiders Place Their Bets

In other Upwork news, Director Elizabeth A. Nelson sold 75,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $17.37, for a total transaction of $1,302,750.00. Following the completion of the sale, the director now directly owns 48,915 shares in the company, valued at $849,653.55. This represents a 60.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Dave Bottoms sold 10,508 shares of Upwork stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $15.86, for a total value of $166,656.88. The disclosure for this sale can be found here. Insiders sold 213,813 shares of company stock valued at $3,525,935 over the last quarter. Insiders own 7.60% of the company’s stock.

Institutional Trading of Upwork

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SkyView Investment Advisors LLC raised its stake in Upwork by 13.9% during the 3rd quarter. SkyView Investment Advisors LLC now owns 226,375 shares of the company’s stock valued at $2,366,000 after purchasing an additional 27,639 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Upwork during the third quarter valued at about $355,000. XTX Topco Ltd raised its holdings in Upwork by 198.6% in the 3rd quarter. XTX Topco Ltd now owns 60,509 shares of the company’s stock valued at $632,000 after acquiring an additional 40,242 shares in the last quarter. Tabor Asset Management LP bought a new stake in shares of Upwork in the 3rd quarter worth approximately $993,000. Finally, Tenzing Global Management LLC grew its holdings in shares of Upwork by 20.0% during the 3rd quarter. Tenzing Global Management LLC now owns 450,000 shares of the company’s stock worth $4,702,000 after purchasing an additional 75,000 shares in the last quarter. Institutional investors and hedge funds own 77.71% of the company’s stock.

About Upwork

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.