Stocks of Upwork Inc. (NASDAQ:UPWK) traded higher last session on Wall Street, up 2.57% to $10.36.
UPWK stock price is now 13.21% away from the 50-day moving average and -5.12% away from the 200-day moving average. The market capitalization of the company currently stands at $1.35B.
With the price target reduced from $15 to $13, BTIG Research maintained Buy rating for Upwork Inc. (NASDAQ: UPWK).
In other news, Marie Olivier, Chief Accounting Officer sold 222 shares of the company’s stock on Jul 18. The stock was sold for $2,365 at an average price of $10.65. Upon completion of the transaction, the Chief Accounting Officer now directly owns 16,078 shares in the company, valued at $0.17 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 20, President & CEO Brown Hayden sold 28,485 shares of the business’s stock. A total of $260,396 was realized by selling the stock at an average price of $9.14. This leaves the insider owning 1,012,262 shares of the company worth $10.49 million. Insiders disposed of 311,767 shares of company stock worth roughly $3.23 million over the past 1 year. A total of 0.80% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in UPWK stock. A new stake in Upwork Inc. shares was purchased by HORRELL CAPITAL MANAGEMENT, INC. during the first quarter worth $4,662,000. HRT FINANCIAL LP invested $2,363,000 in shares of UPWK during the first quarter. In the first quarter, MARSHALL WACE, LLP acquired a new stake in Upwork Inc. valued at approximately $2,231,000. ACADIAN ASSET MANAGEMENT LLC acquired a new stake in UPWK for approximately $2,091,000. MIZUHO MARKETS CAYMAN LP purchased a new stake in UPWK valued at around $1,414,000 in the second quarter.
Friday’s opening bell rang with an opening price of $10.30 for Upwork Inc. (NASDAQ: UPWK). During the past 12 months, Upwork Inc. has had a low of $6.56 and a high of $22.62. As of last week, the company has a debt-to-equity ratio of 1.23, a current ratio of 3.00, and a quick ratio of 3.00. The fifty day moving average price for UPWK is $9.20 and a two-hundred day moving average price translates $10.90 for the stock.
The latest earnings results from Upwork Inc. (NASDAQ: UPWK) was released for Mar, 2023. According to the Staffing & Employment Services Company, earnings per share came in at -$0.01, beating analysts’ expectations of -$0.07 by 0.06. This compares to -$0.19 EPS in the same period last year. The net profit margin was -7.50% and return on equity was -18.70% for UPWK. The company reported revenue of $160.86 million for the quarter, compared to $141.34 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 13.81 percent. For the current quarter, analysts expect UPWK to generate $162.57M in revenue.
Upwork Inc.(UPWK) 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 sales and marketing, customer service, data science and analytics, design and creative, web, mobile, and software development. Its work marketplace also enables clients to streamline workflows, such as talent sourcing, outreach, and contracting. The company’s work marketplace offers access to various functionalities for remote engagements with talent, including communication and collaboration, ability to receive talent invoices through their work marketplace, and payment protection. Its marketplace offerings include Upwork Basic, Upwork Plus, Upwork Enterprise, and Upwork Payroll, as well as managed and internet escrow agency services. The company was formerly known as Elance-oDesk, Inc. and changed its name to Upwork Inc. in May 2015. Upwork Inc. was incorporated in 2013 and is headquartered in San Francisco, California.
