Roth Mkm Raises Upwork (NASDAQ:UPWK) Price Target to $20.00

Upwork (NASDAQ:UPWK) had its target price upped by Roth Mkm from $13.00 to $20.00 in a report published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also weighed in on UPWK. The Goldman Sachs Group decreased their price objective on shares of Upwork from $24.00 to $21.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Canaccord Genuity Group decreased their price objective on shares of Upwork from $19.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Citigroup decreased their price objective on shares of Upwork from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Wednesday, September 25th. Royal Bank of Canada decreased their price objective on shares of Upwork from $15.00 to $11.00 and set a “sector perform” rating for the company in a report on Thursday, August 8th. Finally, UBS Group reduced their price target on shares of Upwork from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.00.

Upwork Price Performance

UPWK stock opened at $15.93 on Thursday. Upwork has a 12 month low of $8.43 and a 12 month high of $17.79. The company has a current ratio of 3.18, a quick ratio of 3.00 and a debt-to-equity ratio of 0.87. The company has a 50-day moving average price of $11.12 and a 200 day moving average price of $10.99. The stock has a market cap of $2.13 billion, a PE ratio of 25.29 and a beta of 1.49.

Upwork (NASDAQ:UPWK) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. Upwork had a net margin of 11.26% and a return on equity of 22.84%. The firm had revenue of $193.78 million during the quarter, compared to analysts’ expectations of $185.55 million. During the same period in the previous year, the company earned $0.12 EPS. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. Equities research analysts anticipate that Upwork will post 0.51 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Dave Bottoms sold 5,818 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $9.81, for a total transaction of $57,074.58. Following the completion of the transaction, the vice president now owns 5,818 shares in the company, valued at $57,074.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Upwork news, VP Dave Bottoms sold 5,818 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $9.81, for a total transaction of $57,074.58. Following the sale, the vice president now owns 5,818 shares of the company’s stock, valued at approximately $57,074.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Hayden Brown sold 31,506 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $9.65, for a total transaction of $304,032.90. Following the sale, the chief executive officer now directly owns 1,190,561 shares in the company, valued at approximately $11,488,913.65. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 176,417 shares of company stock worth $1,796,843 in the last 90 days. 7.60% of the stock is owned by corporate insiders.

Institutional Trading of Upwork

Several large investors have recently bought and sold shares of UPWK. Capstone Investment Advisors LLC purchased a new stake in Upwork during the 1st quarter worth approximately $152,000. Quantbot Technologies LP boosted its holdings in shares of Upwork by 32.4% in the 1st quarter. Quantbot Technologies LP now owns 38,070 shares of the company’s stock valued at $467,000 after acquiring an additional 9,324 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Upwork by 1.1% in the 1st quarter. Swiss National Bank now owns 241,900 shares of the company’s stock valued at $2,966,000 after acquiring an additional 2,600 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Upwork in the 1st quarter valued at $49,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Upwork by 28.4% in the 1st quarter. Russell Investments Group Ltd. now owns 68,531 shares of the company’s stock valued at $840,000 after acquiring an additional 15,146 shares during the last quarter. Hedge funds and other institutional investors own 77.71% 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.