Upwork (NASDAQ:UPWK) Announces Earnings Results

Upwork (NASDAQ:UPWK - Get Free Report) issued its quarterly earnings results on Monday. The company reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.09, Briefing.com reports. The business had revenue of $192.71 million during the quarter, compared to the consensus estimate of $188.49 million. Upwork had a net margin of 28.02% and a return on equity of 50.83%. The company's quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.22 earnings per share. Upwork updated its Q2 2025 guidance to 0.260-0.280 EPS and its FY 2025 guidance to 1.140-1.180 EPS.

Upwork Price Performance

NASDAQ:UPWK traded up $0.48 during trading hours on Thursday, hitting $16.75. The company's stock had a trading volume of 1,069,954 shares, compared to its average volume of 2,238,428. The company has a market capitalization of $2.27 billion, a P/E ratio of 10.95 and a beta of 1.52. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.39 and a quick ratio of 3.39. The stock has a fifty day simple moving average of $13.32 and a 200-day simple moving average of $14.96. Upwork has a twelve month low of $8.43 and a twelve month high of $18.14.

Insiders Place Their Bets

In related news, Director Elizabeth A. Nelson sold 75,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $17.58, for a total transaction of $1,318,500.00. Following the completion of the sale, the director now directly owns 16,299 shares of the company's stock, valued at approximately $286,536.42. This trade represents a 82.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Hayden Brown sold 9,075 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $13.07, for a total transaction of $118,610.25. Following the sale, the chief executive officer now owns 1,223,741 shares in the company, valued at $15,994,294.87. The trade was a 0.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 193,108 shares of company stock valued at $3,046,648. 7.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Roth Mkm dropped their price target on Upwork from $20.00 to $19.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. JMP Securities restated a "market outperform" rating and issued a $18.00 target price on shares of Upwork in a research report on Thursday, January 30th. Royal Bank of Canada reissued a "sector perform" rating and issued a $18.00 price target on shares of Upwork in a research note on Tuesday. BTIG Research cut Upwork from a "buy" rating to a "neutral" rating in a report on Friday, April 4th. Finally, Jefferies Financial Group lowered their target price on Upwork from $21.00 to $20.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $18.50.

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.