Upwork (NASDAQ:UPWK) Given New $19.00 Price Target at UBS Group

Upwork (NASDAQ:UPWK) had its price target lifted by equities research analysts at UBS Group from $18.00 to $19.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price target would indicate a potential upside of 21.87% from the company’s current price.

Other research analysts also recently issued reports about the company. Jefferies Financial Group boosted their target price on Upwork from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Roth Mkm boosted their target price on Upwork from $13.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. JMP Securities restated a “market outperform” rating and set a $18.00 target price on shares of Upwork in a research note on Thursday, January 30th. Piper Sandler restated an “overweight” rating and set a $18.00 target price (up from $13.00) on shares of Upwork in a research note on Thursday, November 7th. Finally, Needham & Company LLC boosted their target price on Upwork from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday. Three 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.36.

Upwork Stock Up 0.4 %

Shares of NASDAQ:UPWK traded up $0.06 on Thursday, reaching $15.59. The company had a trading volume of 539,955 shares, compared to its average volume of 2,337,024. Upwork has a 52-week low of $8.43 and a 52-week high of $18.14. The firm’s 50 day simple moving average is $16.38 and its 200-day simple moving average is $13.41. The firm has a market capitalization of $2.08 billion, a PE ratio of 24.75 and a beta of 1.57. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 0.87.

Upwork (NASDAQ:UPWK) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.79. Upwork had a return on equity of 22.84% and a net margin of 11.26%. As a group, analysts expect that Upwork will post 0.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Upwork

In other news, CEO Hayden Brown sold 30,672 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $15.13, for a total value of $464,067.36. Following the completion of the transaction, the chief executive officer now owns 1,196,221 shares of the company’s stock, valued at $18,098,823.73. The trade was a 2.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Erica Gessert sold 19,816 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $15.13, for a total value of $299,816.08. Following the completion of the transaction, the chief financial officer now directly owns 128,939 shares of the company’s stock, valued at approximately $1,950,847.07. This trade represents a 13.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 184,186 shares of company stock worth $3,056,877. 7.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Upwork

Institutional investors and hedge funds have recently modified their holdings of the stock. KBC Group NV lifted its holdings in shares of Upwork by 45.4% in the 3rd quarter. KBC Group NV now owns 4,791 shares of the company’s stock valued at $50,000 after buying an additional 1,497 shares during the period. Nkcfo LLC acquired a new position in Upwork in the 4th quarter worth about $82,000. SBI Securities Co. Ltd. acquired a new position in Upwork in the 4th quarter worth about $84,000. CWM LLC raised its holdings in Upwork by 71.9% in the 3rd quarter. CWM LLC now owns 5,896 shares of the company’s stock worth $62,000 after purchasing an additional 2,467 shares during the period. Finally, Financial Management Professionals Inc. acquired a new position in Upwork in the 4th quarter worth about $97,000. Institutional investors and hedge funds own 77.71% of the company’s stock.

Upwork Company Profile

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.