Equities analysts expect Upwork Inc. (NASDAQ:UPWK) to post earnings of ($0.04) per share for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Upwork's earnings. The highest EPS estimate is ($0.03) and the lowest is ($0.05). Upwork posted earnings per share of ($0.09) in the same quarter last year, which would suggest a positive year-over-year growth rate of 55.6%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, May 5th.
On average, analysts expect that Upwork will report full year earnings of ($0.14) per share for the current fiscal year, with EPS estimates ranging from ($0.22) to ($0.05). For the next year, analysts expect that the company will post earnings of $0.00 per share, with EPS estimates ranging from ($0.07) to $0.10. Zacks' EPS averages are an average based on a survey of sell-side research firms that cover Upwork.
Upwork (NASDAQ:UPWK) last released its quarterly earnings data on Tuesday, February 23rd. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.08. Upwork had a negative return on equity of 10.95% and a negative net margin of 8.42%. The business had revenue of $106.15 million during the quarter, compared to analysts' expectations of $97.34 million. During the same quarter last year, the business posted $0.03 EPS. The business's revenue was up 32.2% on a year-over-year basis.
UPWK has been the subject of several research reports. MKM Partners increased their target price on Upwork from $52.00 to $69.00 in a research report on Wednesday, February 24th. Stifel Nicolaus increased their target price on Upwork from $40.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, February 24th. Zacks Investment Research raised Upwork from a "hold" rating to a "buy" rating and set a $60.00 target price for the company in a research report on Tuesday, March 2nd. BTIG Research increased their target price on Upwork from $68.00 to $75.00 and gave the stock a "buy" rating in a research report on Wednesday, February 24th. Finally, Jefferies Financial Group lowered Upwork from a "buy" rating to a "hold" rating and set a $39.00 target price for the company. in a research report on Monday, January 11th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Upwork has a consensus rating of "Buy" and an average target price of $61.78.
Shares of NASDAQ:UPWK traded up $0.72 during trading on Friday, hitting $45.41. The stock had a trading volume of 32,168 shares, compared to its average volume of 2,333,978. Upwork has a 12 month low of $5.31 and a 12 month high of $63.88. The company has a market capitalization of $5.67 billion, a PE ratio of -181.88 and a beta of 2.15. The firm's fifty day moving average is $50.18 and its 200 day moving average is $33.40. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.02.
In other Upwork news, CEO Hayden Brown sold 260,000 shares of the stock in a transaction on Thursday, March 4th. The stock was sold at an average price of $44.50, for a total transaction of $11,570,000.00. Following the sale, the chief executive officer now directly owns 441,405 shares in the company, valued at approximately $19,642,522.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Eric Gilpin sold 3,389 shares of the stock in a transaction on Friday, February 19th. The shares were sold at an average price of $53.78, for a total value of $182,260.42. Following the sale, the vice president now owns 10,422 shares in the company, valued at $560,495.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 264,456 shares of company stock valued at $11,795,229. 25.30% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its stake in Upwork by 24.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,721,721 shares of the company's stock valued at $232,034,000 after purchasing an additional 1,327,735 shares during the last quarter. BlackRock Inc. boosted its stake in Upwork by 7.5% during the 4th quarter. BlackRock Inc. now owns 6,551,245 shares of the company's stock valued at $226,150,000 after purchasing an additional 456,028 shares during the last quarter. Baillie Gifford & Co. boosted its stake in Upwork by 18.7% during the 4th quarter. Baillie Gifford & Co. now owns 4,467,561 shares of the company's stock valued at $154,220,000 after purchasing an additional 705,207 shares during the last quarter. ATOMVEST Ltd purchased a new stake in Upwork during the 4th quarter valued at $60,848,000. Finally, State Street Corp boosted its stake in Upwork by 5.0% during the 3rd quarter. State Street Corp now owns 1,722,850 shares of the company's stock valued at $30,047,000 after purchasing an additional 81,892 shares during the last quarter. Institutional investors and hedge funds own 60.29% of the company's stock.
Upwork Inc operates an online talent marketplace that enables businesses (clients) to find and work with various independent professionals and agencies (freelancers) in the United States, India, the Philippines, and internationally. The company's platform provides access to talent with approximately 8,000 skills across approximately 70 categories, including content marketing, customer service, data science and analytics, graphic design, mobile development, sales, and web development.
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