Upwork (UPWK) Trading Down 1.7%

Upwork Inc (NASDAQ:UPWK)’s share price traded down 1.7% during mid-day trading on Friday . The stock traded as low as $15.84 and last traded at $17.76. 6,521 shares were traded during mid-day trading, a decline of 99% from the average session volume of 445,417 shares. The stock had previously closed at $18.07.

Several equities analysts have issued reports on the company. Jefferies Financial Group assumed coverage on Upwork in a research note on Monday, October 29th. They issued a “hold” rating and a $20.00 price target on the stock. Stifel Nicolaus assumed coverage on Upwork in a research note on Monday, October 29th. They issued a “hold” rating and a $18.00 price target on the stock. Citigroup assumed coverage on Upwork in a research note on Monday, October 29th. They issued a “buy” rating and a $23.00 price target on the stock. Royal Bank of Canada assumed coverage on Upwork in a research note on Monday, October 29th. They issued an “outperform” rating and a $24.00 price target on the stock. Finally, Guggenheim assumed coverage on Upwork in a research note on Wednesday, October 24th. They issued a “buy” rating and a $25.00 price target on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $22.20.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings results on Wednesday, November 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.04). The business had revenue of $64.10 million during the quarter, compared to analyst estimates of $62.24 million. Upwork’s revenue was up 22.6% compared to the same quarter last year. On average, equities analysts expect that Upwork Inc will post -0.12 earnings per share for the current fiscal year.

In other news, SVP Hayden Brown sold 54,246 shares of the business’s stock in a transaction that occurred on Friday, October 5th. The stock was sold at an average price of $13.95, for a total transaction of $756,731.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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About Upwork (NASDAQ:UPWK)

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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