Upwork Inc. (NASDAQ:UPWK) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Upwork Inc. (NASDAQ:UPWK) has received a consensus rating of “Moderate Buy” from the eleven analysts that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $17.00.

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group raised their price objective on shares of Upwork from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. BTIG Research boosted their price target on Upwork from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. UBS Group lowered their price objective on Upwork from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Canaccord Genuity Group lifted their target price on Upwork from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Citigroup decreased 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.

Insider Transactions at Upwork

In other news, VP Dave Bottoms sold 5,818 shares of the business’s 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 transaction, the vice president now owns 5,818 shares of the company’s stock, valued at approximately $57,074.58. The trade was a 50.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Elizabeth A. Nelson sold 75,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $10.54, for a total value of $790,500.00. Following the completion of the sale, the director now directly owns 48,915 shares in the company, valued at $515,564.10. This trade represents a 60.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 206,078 shares of company stock valued at $2,267,715. Company insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Upwork

A number of institutional investors have recently added to or reduced their stakes in UPWK. Plato Investment Management Ltd bought a new stake in shares of Upwork during the second quarter worth $27,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Upwork during the 2nd quarter valued at $29,000. Quarry LP grew its position in Upwork by 104.2% during the 2nd quarter. Quarry LP now owns 4,350 shares of the company’s stock worth $47,000 after acquiring an additional 2,220 shares during the last quarter. Headlands Technologies LLC acquired a new position in Upwork in the 1st quarter worth about $49,000. Finally, KBC Group NV raised its position in Upwork by 45.4% in the third quarter. KBC Group NV now owns 4,791 shares of the company’s stock valued at $50,000 after purchasing an additional 1,497 shares during the last quarter. 77.71% of the stock is currently owned by institutional investors and hedge funds.

Upwork Stock Down 1.3 %

UPWK stock opened at $14.91 on Tuesday. Upwork has a 1-year low of $8.43 and a 1-year high of $17.79. The business’s 50 day simple moving average is $11.71 and its 200 day simple moving average is $11.13. 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 firm has a market capitalization of $1.99 billion, a PE ratio of 23.67 and a beta of 1.49.

Upwork (NASDAQ:UPWK) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.26 by $0.03. The firm had revenue of $193.78 million for the quarter, compared to the consensus estimate of $185.55 million. Upwork had a net margin of 11.26% and a return on equity of 22.84%. The company’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.12 earnings per share. As a group, research analysts anticipate that Upwork will post 0.65 EPS for the current year.

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.