Upwork Inc. (NASDAQ:UPWK) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Shares of Upwork Inc. (NASDAQ:UPWK - Get Free Report) have received a consensus rating of "Moderate Buy" from the twelve analysts that are covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $18.67.

A number of research analysts have commented on UPWK shares. Needham & Company LLC restated a "buy" rating and set a $19.00 price target on shares of Upwork in a research note on Tuesday, May 6th. Royal Bank Of Canada restated a "sector perform" rating and set a $18.00 target price on shares of Upwork in a report on Monday, June 2nd. Citigroup reiterated an "outperform" rating on shares of Upwork in a research note on Friday, May 16th. Wall Street Zen upgraded shares of Upwork from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 24th. Finally, BTIG Research lowered shares of Upwork from a "buy" rating to a "neutral" rating in a report on Friday, April 4th.

Upwork Trading Up 2.0%

UPWK opened at $13.33 on Wednesday. The business's 50 day moving average price is $14.78 and its 200 day moving average price is $15.06. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.41 and a current ratio of 3.41. The stock has a market capitalization of $1.75 billion, a PE ratio of 7.98 and a beta of 1.44. Upwork has a one year low of $8.43 and a one year high of $18.14.

Upwork (NASDAQ:UPWK - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.25 by $0.09. Upwork had a return on equity of 48.38% and a net margin of 30.46%. The business had revenue of $192.71 million for the quarter, compared to analyst estimates of $188.49 million. During the same quarter in the prior year, the company posted $0.22 EPS. The company's quarterly revenue was up .9% on a year-over-year basis. As a group, equities research analysts expect that Upwork will post 0.84 EPS for the current year.

Insider Transactions at Upwork

In related news, Director Thomas Layton sold 250,000 shares of Upwork stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $17.47, for a total value of $4,367,500.00. Following the transaction, the director now directly owns 1,867,769 shares in the company, valued at $32,629,924.43. This trade represents a 11.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Olivier Marie sold 1,879 shares of the business's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $13.50, for a total transaction of $25,366.50. Following the completion of the transaction, the chief accounting officer now directly owns 4,632 shares in the company, valued at $62,532. This represents a 28.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 545,454 shares of company stock worth $9,172,963. Insiders own 7.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Inspire Investing LLC acquired a new position in shares of Upwork during the 1st quarter worth $750,000. Rhumbline Advisers boosted its holdings in Upwork by 2.5% during the first quarter. Rhumbline Advisers now owns 182,660 shares of the company's stock worth $2,384,000 after buying an additional 4,458 shares in the last quarter. Acadian Asset Management LLC grew its position in Upwork by 24.3% during the first quarter. Acadian Asset Management LLC now owns 843,330 shares of the company's stock worth $10,996,000 after buying an additional 164,993 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Upwork by 10.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 338,680 shares of the company's stock valued at $4,420,000 after buying an additional 31,378 shares in the last quarter. Finally, Teza Capital Management LLC acquired a new stake in shares of Upwork during the 1st quarter valued at approximately $265,000. 77.71% of the stock is currently owned by institutional investors and hedge funds.

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.

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