Upwork (NASDAQ:UPWK) Issues FY 2025 Earnings Guidance

Key Points

• Upwork has updated its FY 2025 earnings guidance, projecting an EPS of 1.140-1.180 and revenue of $765.0 million-$775.0 million, exceeding analysts' expectations.
• Following the earnings report, Upwork's stock rose 10.2%, trading at $13.17 with significant trading volume.
• Analysts have set new price targets for Upwork, with JMP Securities raising their target from $18.00 to $20.00, indicating strong market confidence in the company's performance.

Upwork (NASDAQ:UPWK - Get Free Report) issued an update on its FY 2025 earnings guidance on Thursday morning. The company provided EPS guidance of 1.140-1.180 for the period, compared to the consensus EPS estimate of 1.160. The company issued revenue guidance of $765.0 million-$775.0 million, compared to the consensus revenue estimate of $755.6 million. Upwork also updated its Q3 2025 guidance to 0.260-0.280 EPS.

Wall Street Analysts Forecast Growth

UPWK has been the subject of a number of research analyst reports. JMP Securities increased their target price on Upwork from $18.00 to $20.00 and gave the company a "market outperform" rating in a report on Friday, May 16th. Citigroup reissued an "outperform" rating on shares of Upwork in a research note on Friday, May 16th. Needham & Company LLC reaffirmed a "buy" rating and set a $19.00 target price on shares of Upwork in a research note on Tuesday, May 6th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $18.00 price target on shares of Upwork in a research report on Monday, June 2nd. Finally, Wall Street Zen downgraded shares of Upwork from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $18.67.

Upwork Stock Up 1.8%

UPWK traded up $0.24 during midday trading on Monday, hitting $13.41. 4,161,070 shares of the company's stock traded hands, compared to its average volume of 3,383,219. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.36 and a quick ratio of 3.36. The company has a market cap of $1.78 billion, a PE ratio of 7.71 and a beta of 1.38. The stock's fifty day simple moving average is $13.48 and its 200-day simple moving average is $14.24. Upwork has a one year low of $8.67 and a one year high of $18.14.

Upwork (NASDAQ:UPWK - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.09. The business had revenue of $194.94 million for the quarter, compared to the consensus estimate of $187.56 million. Upwork had a net margin of 31.75% and a return on equity of 44.83%. Upwork's revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the firm earned $0.26 EPS. As a group, equities analysts anticipate that Upwork will post 0.84 earnings per share for the current fiscal year.

Insider Activity at Upwork

In other news, CEO Hayden Brown sold 23,716 shares of Upwork stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $13.51, for a total value of $320,403.16. Following the transaction, the chief executive officer owned 1,153,485 shares of the company's stock, valued at $15,583,582.35. This trade represents a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Dave Bottoms sold 11,562 shares of the firm's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $13.51, for a total transaction of $156,202.62. Following the completion of the transaction, the insider owned 9,345 shares in the company, valued at $126,250.95. The trade was a 55.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 425,454 shares of company stock worth $7,148,563 in the last 90 days. 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 business. Cetera Investment Advisers boosted its holdings in Upwork by 51.4% in the 2nd quarter. Cetera Investment Advisers now owns 16,363 shares of the company's stock valued at $220,000 after purchasing an additional 5,553 shares during the period. Creative Planning increased its stake in Upwork by 16.9% during the second quarter. Creative Planning now owns 29,239 shares of the company's stock valued at $393,000 after acquiring an additional 4,230 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Upwork by 5.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,466 shares of the company's stock valued at $972,000 after acquiring an additional 3,599 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Upwork by 68.9% in the 1st quarter. Royal Bank of Canada now owns 191,587 shares of the company's stock worth $2,501,000 after acquiring an additional 78,123 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Upwork by 10.2% during 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 purchasing an additional 31,378 shares during the period. 77.71% of the stock is owned by 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.