Shares of Upwork Inc. (NASDAQ:UPWK – Get Free Report) have earned a consensus rating of “Moderate Buy” from the twelve ratings firms that are currently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $18.50.
Several research firms have weighed in on UPWK. Jefferies Financial Group decreased their price target on shares of Upwork from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Scotiabank began coverage on Upwork in a research report on Wednesday, March 12th. They issued a “sector perform” rating and a $15.00 target price for the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $18.00 price target on shares of Upwork in a report on Tuesday. Roth Mkm decreased their price objective on Upwork from $20.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, UBS Group increased their target price on Upwork from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th.
Read Our Latest Stock Report on UPWK
Upwork Stock Performance
Upwork (NASDAQ:UPWK – Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.25 by $0.09. Upwork had a return on equity of 50.83% and a net margin of 28.02%. The business had revenue of $192.71 million during the quarter, compared to analysts’ expectations of $188.49 million. During the same quarter last year, the firm posted $0.22 earnings per share. The firm’s revenue was up .9% on a year-over-year basis. As a group, analysts predict that Upwork will post 0.84 EPS for the current year.
Insider Activity at Upwork
In other Upwork news, insider Dave Bottoms sold 5,411 shares of Upwork stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $13.07, for a total transaction of $70,721.77. Following the transaction, the insider now owns 9,593 shares of the company’s stock, valued at $125,380.51. This trade represents a 36.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Elizabeth A. Nelson sold 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $17.58, for a total value of $1,318,500.00. Following the completion of the transaction, the director now owns 16,299 shares in the company, valued at $286,536.42. The trade was a 82.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 193,108 shares of company stock valued at $3,046,648 over the last ninety days. Corporate insiders own 7.60% of the company’s stock.
Institutional Investors Weigh In On Upwork
Several large investors have recently made changes to their positions in UPWK. Wedmont Private Capital bought a new position in Upwork during the fourth quarter valued at about $544,000. KLP Kapitalforvaltning AS purchased a new position in Upwork in the fourth quarter valued at about $419,000. Rhumbline Advisers grew its position in shares of Upwork by 1.4% during the 4th quarter. Rhumbline Advisers now owns 178,202 shares of the company’s stock valued at $2,914,000 after acquiring an additional 2,387 shares during the period. Amundi increased its stake in shares of Upwork by 37.6% during the 4th quarter. Amundi now owns 93,251 shares of the company’s stock worth $1,497,000 after purchasing an additional 25,464 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Upwork by 9.3% during the 4th quarter. Bank of New York Mellon Corp now owns 413,248 shares of the company’s stock worth $6,757,000 after purchasing an additional 35,074 shares during the last quarter. 77.71% of the stock is owned by hedge funds and other institutional investors.
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.
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