Brokerages Set Upwork Inc. (NASDAQ:UPWK) Price Target at $18.91

Shares of Upwork Inc. (NASDAQ:UPWK) have been given an average recommendation of “Moderate Buy” by the eleven brokerages that are presently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $18.91.

A number of research firms have weighed in on UPWK. Piper Sandler restated an “overweight” rating and set a $18.00 target price (up previously from $13.00) on shares of Upwork in a report on Thursday, November 7th. Jefferies Financial Group upped their price objective on Upwork from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. JMP Securities reiterated a “market outperform” rating and set a $18.00 price objective on shares of Upwork in a report on Thursday, January 30th. 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. Finally, UBS Group lifted their target price on shares of Upwork from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th.

Upwork Price Performance

Shares of UPWK stock opened at $15.72 on Thursday. The company has a market capitalization of $2.13 billion, a P/E ratio of 10.27 and a beta of 1.57. The company’s 50-day simple moving average is $16.27 and its two-hundred day simple moving average is $13.73. Upwork has a one year low of $8.43 and a one year high of $18.14. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.39 and a quick ratio of 3.39.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.79. Upwork had a return on equity of 50.83% and a net margin of 28.02%. As a group, equities analysts anticipate that Upwork will post 0.84 EPS for the current year.

Insider Activity at Upwork

In other news, CEO Hayden Brown sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $17.00, for a total transaction of $255,000.00. Following the sale, the chief executive officer now owns 1,181,221 shares of the company’s stock, valued at $20,080,757. This trade represents a 1.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Erica Gessert sold 4,279 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $17.11, for a total transaction of $73,213.69. Following the completion of the transaction, the chief financial officer now owns 133,093 shares of the company’s stock, valued at approximately $2,277,221.23. This represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 243,187 shares of company stock worth $4,172,213. 7.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Upwork

A number of institutional investors have recently modified their holdings of UPWK. KBC Group NV raised its holdings in Upwork by 45.4% in the 3rd quarter. KBC Group NV now owns 4,791 shares of the company’s stock worth $50,000 after purchasing an additional 1,497 shares during the period. CWM LLC increased its position in shares of Upwork by 71.9% in the third quarter. CWM LLC now owns 5,896 shares of the company’s stock valued at $62,000 after buying an additional 2,467 shares in the last quarter. Quarry LP raised its stake in shares of Upwork by 42.6% during the 3rd quarter. Quarry LP now owns 6,201 shares of the company’s stock worth $65,000 after buying an additional 1,851 shares during the period. Nkcfo LLC purchased a new position in shares of Upwork during the 4th quarter valued at approximately $82,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Upwork in the 4th quarter valued at $84,000. 77.71% of the stock is currently owned by institutional investors and hedge funds.

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.