Upwork (UPWK) PT Raised to $21.00 at Jefferies Financial Group

Upwork (NASDAQ:UPWK) had its price objective upped by Jefferies Financial Group from $20.00 to $21.00 in a research report issued to clients and investors on Thursday. The firm presently has a “hold” rating on the stock. Jefferies Financial Group’s price target points to a potential upside of 18.78% from the company’s current price.

UPWK has been the subject of a number of other research reports. Guggenheim initiated coverage on Upwork in a research report on Wednesday, October 24th. They issued a “buy” rating and a $25.00 price target for the company. Royal Bank of Canada initiated coverage on Upwork in a research report on Monday, October 29th. They issued an “outperform” rating and a $24.00 price target for the company. Citigroup initiated coverage on Upwork in a research report on Monday, October 29th. They issued a “buy” rating and a $23.00 price target for the company. Finally, Stifel Nicolaus initiated coverage on Upwork in a research report on Monday, October 29th. They issued a “hold” rating and a $18.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Upwork has a consensus rating of “Buy” and an average target price of $22.20.

NASDAQ:UPWK opened at $17.68 on Thursday. Upwork has a 1-year low of $15.84 and a 1-year high of $23.49.

Upwork (NASDAQ:UPWK) last released its quarterly earnings results on Wednesday, November 7th. The company reported ($0.04) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.04). The company had revenue of $64.10 million during the quarter, compared to analyst estimates of $62.24 million. The company’s revenue for the quarter was up 22.6% on a year-over-year basis. Sell-side analysts predict that Upwork will post -0.12 EPS for the current fiscal year.

In related news, SVP Hayden Brown sold 54,246 shares of the stock in a transaction on Friday, October 5th. The stock was sold at an average price of $13.95, for a total value of $756,731.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

About Upwork

Upwork Inc operates an online platform that connects businesses and freelancers. Its platform comprise freelancers in content marketing, customer service, data science and analytics, graphic design, mobile development, sales, and web development categories. The company was formerly known as Elance-oDesk, Inc and changed its name to Upwork Inc in May 2015.

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