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

Upwork Inc. (NASDAQ:UPWK) has earned an average rating of “Moderate Buy” from the fourteen research firms that are currently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $22.9167.

A number of equities analysts recently weighed in on the stock. BTIG Research reissued a “neutral” rating on shares of Upwork in a report on Wednesday, November 19th. Scotiabank raised their price target on Upwork from $15.00 to $17.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 price objective on shares of Upwork in a research note on Wednesday, November 19th. Citizens Jmp restated a “market outperform” rating and issued a $27.00 target price on shares of Upwork in a research note on Wednesday, November 19th. Finally, Royal Bank Of Canada lifted their price target on Upwork from $18.00 to $21.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 4th.

Upwork Trading Up 0.3%

UPWK opened at $21.44 on Wednesday. The company’s fifty day moving average price is $18.02 and its two-hundred day moving average price is $15.98. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 12.25 and a beta of 1.02. Upwork has a 1-year low of $11.13 and a 1-year high of $22.32.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). Upwork had a return on equity of 41.05% and a net margin of 31.63%.The firm had revenue of $201.73 million during the quarter, compared to the consensus estimate of $193.33 million. During the same period in the previous year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. Upwork has set its FY 2025 guidance at 1.350-1.370 EPS and its Q4 2025 guidance at 0.310-0.330 EPS. As a group, equities analysts forecast that Upwork will post 0.84 earnings per share for the current fiscal year.

Upwork announced that its Board of Directors has initiated a share buyback plan on Wednesday, September 3rd that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to reacquire up to 4.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Upwork

In other Upwork news, Director Gary Steele sold 12,500 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $17.51, for a total value of $218,875.00. Following the completion of the sale, the director directly owned 85,129 shares of the company’s stock, valued at $1,490,608.79. The trade was a 12.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Hayden Brown sold 275,000 shares of the company’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $19.43, for a total transaction of $5,343,250.00. Following the sale, the chief executive officer owned 697,894 shares of the company’s stock, valued at approximately $13,560,080.42. The trade was a 28.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 562,132 shares of company stock worth $10,720,002 in the last 90 days. 7.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Upwork

A number of large investors have recently bought and sold shares of UPWK. LSV Asset Management boosted its stake in shares of Upwork by 22.1% during the second quarter. LSV Asset Management now owns 6,534,575 shares of the company’s stock valued at $87,825,000 after purchasing an additional 1,183,169 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in Upwork by 41.1% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,660,511 shares of the company’s stock valued at $60,820,000 after buying an additional 1,357,476 shares during the period. Ancient Art L.P. grew its holdings in Upwork by 13.1% in the 3rd quarter. Ancient Art L.P. now owns 4,268,667 shares of the company’s stock worth $79,269,000 after acquiring an additional 494,759 shares during the last quarter. Invesco Ltd. increased its position in shares of Upwork by 5.2% in the third quarter. Invesco Ltd. now owns 3,009,334 shares of the company’s stock valued at $55,883,000 after acquiring an additional 147,852 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Upwork by 2.6% during the third quarter. Dimensional Fund Advisors LP now owns 2,828,735 shares of the company’s stock valued at $52,534,000 after acquiring an additional 71,130 shares during the last quarter. 77.71% of the stock is owned by hedge funds and other institutional investors.

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.