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

Upwork (NASDAQ:UPWK) posted its quarterly earnings results on Wednesday. The company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates 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 Price Performance

NASDAQ UPWK traded up $0.30 during trading hours on Wednesday, reaching $15.53. The company’s stock had a trading volume of 4,145,269 shares, compared to its average volume of 2,403,242. 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’s 50-day moving average price is $16.41 and its 200-day moving average price is $13.39. Upwork has a 1 year low of $8.43 and a 1 year high of $18.14. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 24.65 and a beta of 1.57.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Canaccord Genuity Group boosted their target price on Upwork from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Jefferies Financial Group boosted their price objective on Upwork from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, January 6th. The Goldman Sachs Group upped their price objective on shares of Upwork from $21.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Needham & Company LLC reissued a “buy” rating and set a $17.00 price objective on shares of Upwork in a report on Friday, January 17th. Finally, Roth Mkm upped 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. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $18.09.

Insider Activity

In related news, Director Elizabeth A. Nelson sold 75,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $17.37, for a total transaction of $1,302,750.00. Following the sale, the director now owns 48,915 shares of the company’s stock, valued at $849,653.55. This trade represents a 60.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Hayden Brown sold 30,672 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $15.13, for a total value of $464,067.36. Following the transaction, the chief executive officer now directly owns 1,196,221 shares in the company, valued at approximately $18,098,823.73. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 184,186 shares of company stock worth $3,056,877 over the last 90 days. Corporate insiders own 7.60% of the company’s stock.

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.