Upwork (NASDAQ:UPWK - Get Free Report) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.210-0.230 for the period, compared to the consensus earnings per share estimate of 0.200. The company issued revenue guidance of $190.0 million-$195.0 million, compared to the consensus revenue estimate of $192.0 million. Upwork also updated its FY 2024 guidance to 0.880-0.920 EPS.
Upwork Trading Up 2.2 %
NASDAQ UPWK traded up $0.26 during trading hours on Wednesday, reaching $11.96. The company's stock had a trading volume of 3,973,471 shares, compared to its average volume of 1,988,210. The stock has a market cap of $1.59 billion, a P/E ratio of 174.00 and a beta of 1.67. The firm has a fifty day simple moving average of $12.22 and a 200-day simple moving average of $13.18. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.01 and a quick ratio of 3.01. Upwork has a 52 week low of $6.56 and a 52 week high of $16.36.
Upwork (NASDAQ:UPWK - Get Free Report) last released its quarterly earnings results on Wednesday, February 14th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. The firm had revenue of $183.93 million during the quarter, compared to analyst estimates of $178.43 million. Upwork had a net margin of 6.80% and a return on equity of 14.21%. Equities analysts forecast that Upwork will post 0.42 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several equities analysts have issued reports on the company. Needham & Company LLC boosted their price target on Upwork from $18.00 to $20.00 and gave the company a buy rating in a research note on Thursday, February 15th. UBS Group boosted their target price on Upwork from $17.00 to $18.00 and gave the company a neutral rating in a research report on Thursday, February 15th. Jefferies Financial Group upgraded Upwork from a hold rating to a buy rating and boosted their price objective for the company from $13.00 to $20.00 in a report on Monday, January 8th. JMP Securities increased their target price on Upwork from $16.00 to $17.00 and gave the stock a market outperform rating in a report on Thursday, February 15th. Finally, The Goldman Sachs Group raised their price objective on shares of Upwork from $20.00 to $22.00 and gave the company a buy rating in a research note on Thursday, February 15th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $16.55.
View Our Latest Stock Report on Upwork
Insider Buying and Selling at Upwork
In other Upwork news, CEO Hayden Brown sold 20,000 shares of the business's stock in a transaction on Friday, March 15th. The shares were sold at an average price of $12.07, for a total value of $241,400.00. Following the sale, the chief executive officer now owns 1,145,980 shares in the company, valued at approximately $13,831,978.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 67,531 shares of company stock valued at $851,894 in the last three months. 9.00% of the stock is currently owned by corporate insiders.
About Upwork
(
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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.
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