Upwork Inc. (NASDAQ:UPWK) Receives Consensus Rating of "Moderate Buy" from Analysts

Shares of Upwork Inc. (NASDAQ:UPWK - Get Free Report) have received an average recommendation of "Moderate Buy" from the twelve analysts that are presently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $18.58.

A number of analysts recently issued reports on the stock. Jefferies Financial Group decreased their target price on shares of Upwork from $21.00 to $20.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Roth Mkm lowered their price objective on Upwork from $20.00 to $19.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Scotiabank started coverage on Upwork in a research note on Wednesday, March 12th. They issued a "sector perform" rating and a $15.00 target price for the company. JMP Securities reissued a "market outperform" rating and issued a $18.00 price target on shares of Upwork in a research note on Thursday, January 30th. Finally, Royal Bank of Canada upped their price objective on shares of Upwork from $16.00 to $18.00 and gave the company a "sector perform" rating in a research note on Thursday, February 13th.

Upwork Stock Down 1.2 %

Shares of NASDAQ:UPWK opened at $13.32 on Tuesday. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $1.80 billion, a P/E ratio of 8.71 and a beta of 1.52. Upwork has a 52-week low of $8.43 and a 52-week high of $18.14. The stock's fifty day simple moving average is $13.31 and its 200-day simple moving average is $14.94.

Upwork (NASDAQ:UPWK - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.79. Upwork had a net margin of 28.02% and a return on equity of 50.83%. As a group, equities research analysts forecast that Upwork will post 0.84 earnings per share for the current fiscal year.

Insider Buying and Selling at Upwork

In other news, CEO Hayden Brown sold 21,122 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $16.15, for a total value of $341,120.30. Following the transaction, the chief executive officer now owns 1,275,083 shares of the company's stock, valued at approximately $20,592,590.45. This trade represents a 1.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Dave Bottoms sold 5,411 shares of the company's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $13.07, for a total transaction of $70,721.77. Following the sale, the insider now directly owns 9,593 shares of the company's stock, valued at approximately $125,380.51. This trade represents a 36.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 193,108 shares of company stock valued at $3,046,648 over the last ninety days. Corporate insiders own 7.60% of the company's stock.

Institutional Investors Weigh In On Upwork

Several hedge funds have recently modified their holdings of the stock. IFP Advisors Inc grew its position in Upwork by 3,492.8% in the first quarter. IFP Advisors Inc now owns 3,988 shares of the company's stock valued at $52,000 after acquiring an additional 3,877 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Upwork by 1,235.1% in the first quarter. GAMMA Investing LLC now owns 4,072 shares of the company's stock valued at $53,000 after purchasing an additional 3,767 shares during the period. Nkcfo LLC acquired a new stake in Upwork during the 4th quarter valued at $82,000. SBI Securities Co. Ltd. purchased a new stake in Upwork during the 4th quarter worth $84,000. Finally, Financial Management Professionals Inc. acquired a new position in Upwork in the 4th quarter worth $97,000. 77.71% of the stock is currently owned by hedge funds and other institutional investors.

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.

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