Upwork (NASDAQ:UPWK) Releases Earnings Results, Beats Estimates By $0.79 EPS

Upwork (NASDAQ:UPWK) released its quarterly earnings results on Wednesday. The company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.24 by $0.79, Zacks reports. Upwork had a net margin of 11.26% and a return on equity of 22.84%. Upwork updated its FY 2025 guidance to 1.050-1.100 EPS and its Q1 2025 guidance to 0.240-0.260 EPS.

Upwork Trading Up 2.0 %

NASDAQ UPWK traded up $0.30 during trading on Wednesday, reaching $15.53. 4,145,269 shares of the stock traded hands, compared to its average volume of 2,403,242. The stock’s 50-day moving average price is $16.41 and its 200 day moving average price is $13.39. The company has a quick ratio of 3.18, a current ratio of 3.18 and a debt-to-equity ratio of 0.87. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 24.65 and a beta of 1.57. Upwork has a fifty-two week low of $8.43 and a fifty-two week high of $18.14.

Insiders Place Their Bets

In other news, VP Dave Bottoms sold 5,360 shares of Upwork stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $17.11, for a total transaction of $91,709.60. Following the transaction, the vice president now owns 9,642 shares in the company, valued at $164,974.62. The trade was a 35.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Hayden Brown sold 30,672 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were 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. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 184,186 shares of company stock worth $3,056,877. Company insiders own 7.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on UPWK shares. The Goldman Sachs Group increased their price objective on Upwork from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Citigroup raised their price target on Upwork from $11.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, November 29th. Canaccord Genuity Group boosted their price objective on Upwork from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. BTIG Research raised their target price on shares of Upwork from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Piper Sandler reiterated an “overweight” rating and set a $18.00 price target (up previously from $13.00) on shares of Upwork in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.09.

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.