Analysts Set Upwork Inc. (NASDAQ:UPWK) PT at $17.80

Shares of Upwork Inc. (NASDAQ:UPWK) have been given a consensus recommendation of “Moderate Buy” by the ten analysts that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $17.80.

Several analysts recently commented on the company. Roth Mkm reaffirmed a “buy” rating and issued a $19.00 price target on shares of Upwork in a research note on Wednesday, May 15th. The Goldman Sachs Group raised their price target on Upwork from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, February 15th. Royal Bank of Canada decreased their price objective on Upwork from $18.00 to $15.00 and set a “sector perform” rating for the company in a report on Thursday, May 2nd. JMP Securities lifted their target price on Upwork from $16.00 to $17.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 15th. Finally, Needham & Company LLC reissued a “buy” rating and set a $20.00 price target on shares of Upwork in a report on Wednesday, May 15th.

Insider Buying and Selling

In other news, VP Dave Bottoms sold 2,379 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $11.73, for a total value of $27,905.67. Following the transaction, the vice president now directly owns 2,326 shares of the company’s stock, valued at approximately $27,283.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Dave Bottoms sold 2,379 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $11.73, for a total transaction of $27,905.67. Following the transaction, the vice president now directly owns 2,326 shares of the company’s stock, valued at approximately $27,283.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Elizabeth A. Nelson sold 70,000 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $11.79, for a total value of $825,300.00. Following the completion of the sale, the director now directly owns 32,616 shares of the company’s stock, valued at $384,542.64. The disclosure for this sale can be found here. Insiders have sold 201,756 shares of company stock worth $2,371,144 in the last 90 days. Insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On Upwork

Several institutional investors have recently made changes to their positions in the stock. Financial Gravity Asset Management Inc. raised its position in shares of Upwork by 2,216.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 3,893,556 shares of the company’s stock worth $44,231,000 after buying an additional 3,725,442 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Upwork by 239.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,252,227 shares of the company’s stock valued at $33,491,000 after purchasing an additional 1,589,693 shares during the last quarter. Mak Capital One LLC purchased a new position in shares of Upwork during the third quarter valued at approximately $15,528,000. Assenagon Asset Management S.A. purchased a new position in Upwork in the 4th quarter worth approximately $19,082,000. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in Upwork in the 3rd quarter worth approximately $11,576,000. Hedge funds and other institutional investors own 77.71% of the company’s stock.

Upwork Stock Down 2.7 %

Shares of UPWK stock opened at $11.10 on Tuesday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 2.93 and a current ratio of 2.93. The stock’s 50 day simple moving average is $11.91 and its 200 day simple moving average is $13.30. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 31.72 and a beta of 1.66. Upwork has a twelve month low of $7.54 and a twelve month high of $16.36.

Upwork (NASDAQ:UPWK) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.02. Upwork had a return on equity of 13.96% and a net margin of 6.70%. The company had revenue of $190.94 million for the quarter, compared to analyst estimates of $186.71 million. As a group, research analysts predict that Upwork will post 0.52 EPS for the current year.

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.