Upwork Inc. (NASDAQ:UPWK) Stock Has Average Price Target of $13.05

Key Points

• Analyst sentiment is neutral: Thirteen brokerages rate Upwork an average “Hold,” with one sell, nine hold and three buy ratings. The average 12-month price target is $13.05 versus the stock’s $8.61 opening price.
• Upwork recently reported adjusted EPS of $0.41, beating the $0.34 consensus estimate, on quarterly revenue of $191.66 million. However, revenue declined 1.7% year over year, and the stock remains near its 12-month low of $7.44.
• Company insiders sold shares primarily to cover tax obligations tied to vested equity awards, while institutional investors made several sizable purchases. Hedge funds and other institutions own approximately 77.71% of Upwork’s shares.

Shares of Upwork Inc. (NASDAQ:UPWK - Get Free Report) have been given an average recommendation of "Hold" by the thirteen brokerages that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $13.05.

UPWK has been the topic of a number of research reports. Weiss Ratings downgraded shares of Upwork from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, July 29th. Needham & Company LLC dropped their price objective on shares of Upwork from $15.00 to $11.00 and set a "buy" rating for the company in a report on Tuesday, August 11th. Royal Bank Of Canada cut their price objective on Upwork from $9.00 to $8.00 and set a "sector perform" rating for the company in a research report on Tuesday, August 11th. Canaccord Genuity Group cut their price objective on Upwork from $10.00 to $9.00 and set a "hold" rating for the company in a research report on Wednesday, August 12th. Finally, Scotiabank reduced their target price on Upwork from $10.00 to $8.00 and set a "sector perform" rating on the stock in a report on Tuesday, August 11th.

Upwork Trading Up 0.1%

NASDAQ UPWK opened at $8.61 on Tuesday. The stock's 50 day moving average is $8.64 and its 200 day moving average is $9.15. Upwork has a 12 month low of $7.44 and a 12 month high of $22.84. The stock has a market cap of $1.08 billion, a PE ratio of 11.18 and a beta of 1.06.

Upwork (NASDAQ:UPWK - Get Free Report) last released its earnings results on Monday, August 10th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.34 by $0.07. The firm had revenue of $191.66 million for the quarter. Upwork had a net margin of 12.94% and a return on equity of 16.70%. Upwork's quarterly revenue was down 1.7% compared to the same quarter last year. During the same period last year, the firm posted $0.35 EPS. Upwork has set its FY 2026 guidance at 1.380-1.430 EPS and its Q3 2026 guidance at 0.310-0.330 EPS.

Insider Activity at Upwork

In other Upwork news, CFO Erica Gessert sold 22,844 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $8.43, for a total transaction of $192,574.92. Following the completion of the transaction, the chief financial officer owned 364,789 shares in the company, valued at $3,075,171.27. This trade represents a 5.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Hayden Brown sold 73,241 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $8.43, for a total value of $617,421.63. Following the transaction, the chief executive officer owned 771,076 shares of the company's stock, valued at $6,500,170.68. This represents a 8.67% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 178,867 shares of company stock valued at $1,509,806. Insiders own 4.90% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Rice Hall James & Associates LLC bought a new stake in shares of Upwork in the 2nd quarter valued at approximately $23,214,000. Summit Partners Public Asset Management LLC bought a new position in shares of Upwork during the 4th quarter valued at approximately $40,136,000. Dimensional Fund Advisors LP increased its position in shares of Upwork by 26.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,715,616 shares of the company's stock valued at $40,720,000 after purchasing an additional 779,506 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Upwork during the 2nd quarter valued at approximately $6,156,000. Finally, Pacer Advisors Inc. raised its holdings in Upwork by 7,074.5% during the 1st quarter. Pacer Advisors Inc. now owns 726,780 shares of the company's stock valued at $7,966,000 after buying an additional 716,650 shares during the period. 77.71% of the stock is owned by hedge funds and other institutional investors.

About Upwork

Upwork Inc NASDAQ: UPWK operates a global online marketplace that connects businesses with independent professionals and agencies. Clients use the platform to find, hire and collaborate with talent across areas such as software development, design and creative services, marketing, writing, customer support, finance and consulting.

The company provides tools for talent discovery, project management, communication, time tracking, contracting and payments. Its offerings include marketplace-based hiring, packaged services through Project Catalog and solutions designed for larger organizations through Upwork Enterprise.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.