Upwork Inc (NASDAQ:UPWK) has been given a consensus recommendation of “Buy” by the eight ratings firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $21.60.
Several equities research analysts have commented on UPWK shares. Citigroup dropped their target price on Upwork from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. First Analysis started coverage on Upwork in a report on Thursday, October 31st. They issued an “outperform” rating and a $18.00 target price on the stock. Royal Bank of Canada dropped their target price on Upwork to $20.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. ValuEngine raised Upwork from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, Zacks Investment Research downgraded Upwork from a “buy” rating to a “hold” rating in a report on Friday, October 11th.
In other news, CEO Stephane Kasriel sold 120,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $14.61, for a total transaction of $1,753,200.00. Also, SVP Han-Shen Yuan sold 61,175 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $14.21, for a total value of $869,296.75. Over the last ninety days, insiders have sold 403,242 shares of company stock worth $5,676,018. Corporate insiders own 40.81% of the company’s stock.
Several large investors have recently made changes to their positions in UPWK. Scopia Capital Management LP bought a new position in shares of Upwork during the third quarter valued at $58,290,000. Vanguard Group Inc. lifted its holdings in Upwork by 163.4% in the second quarter. Vanguard Group Inc. now owns 5,544,244 shares of the company’s stock valued at $89,151,000 after acquiring an additional 3,439,563 shares during the period. BlackRock Inc. lifted its holdings in Upwork by 139.6% in the second quarter. BlackRock Inc. now owns 3,951,764 shares of the company’s stock valued at $63,544,000 after acquiring an additional 2,302,364 shares during the period. Dragoneer Investment Group LLC lifted its holdings in Upwork by 88.8% in the second quarter. Dragoneer Investment Group LLC now owns 3,021,031 shares of the company’s stock valued at $48,578,000 after acquiring an additional 1,421,031 shares during the period. Finally, Baillie Gifford & Co. bought a new position in Upwork in the second quarter valued at about $20,650,000. 52.38% of the stock is currently owned by hedge funds and other institutional investors.
UPWK stock traded up $0.01 during midday trading on Monday, hitting $10.42. The stock had a trading volume of 1,603,706 shares, compared to its average volume of 901,259. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.92 and a quick ratio of 1.92. The business has a 50-day moving average of $12.54 and a two-hundred day moving average of $14.42. Upwork has a 52-week low of $9.35 and a 52-week high of $25.00. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of -27.42 and a beta of 1.27.
Upwork (NASDAQ:UPWK) last released its earnings results on Wednesday, November 6th. The company reported ($0.03) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.02. Upwork had a negative return on equity of 5.93% and a negative net margin of 5.17%. The business had revenue of $78.80 million for the quarter, compared to the consensus estimate of $77.75 million. During the same period in the previous year, the company posted ($0.04) earnings per share. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. Research analysts predict that Upwork will post -0.15 earnings per share for the current year.
Upwork Company Profile
Upwork Inc operates an online marketplace that enables businesses (clients) to find and work with various independent professionals and agencies (freelancers). The company's platform provides access to talent with approximately 5,000 skills across approximately 70 categories, including content marketing, customer service, data science and analytics, graphic design, mobile development, sales, and Web development.
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