In yesterday’s Wall Street session, Upwork Inc (NASDAQ:UPWK) shares traded at $13.34, up 0.38% from the previous session.
11 analysts cover Upwork Inc (NASDAQ:UPWK), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $19.00 and a low of $13.00, we find $16.50. Given the previous closing price of $13.29, this indicates a potential upside of 24.15 percent. UPWK stock price is now 11.45% away from the 50-day moving average and 20.71% away from the 200-day moving average. The market capitalization of the company currently stands at $1.80B.
The stock has received a hold rating from 5 analysts and a buy rating from 6. Brokers who have rated the stock have averaged $16.40 as their price target over the next twelve months.
With the price target of $13, UBS recently initiated with Neutral rating for Upwork Inc (NASDAQ: UPWK).
In other news, Marie Olivier, Chief Accounting Officer sold 216 shares of the company’s stock on Oct 18. The stock was sold for $2,424 at an average price of $11.22. Upon completion of the transaction, the Chief Accounting Officer now directly owns 5,361 shares in the company, valued at $71515.74. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 18, President & CEO Brown Hayden sold 28,457 shares of the business’s stock. A total of $362,138 was realized by selling the stock at an average price of $12.73. This leaves the insider owning 1,058,875 shares of the company worth $14.13 million. Insiders disposed of 255,480 shares of company stock worth roughly $3.41 million over the past 1 year. A total of 12.08% of the company’s stock is owned by insiders.
On Thursday morning Upwork Inc (NASDAQ: UPWK) stock kicked off with the opening price of $13.36. During the past 12 months, Upwork Inc has had a low of $6.56 and a high of $15.88. As of last week, the company has a debt-to-equity ratio of 1.21, a current ratio of 3.06, and a quick ratio of 3.06. The fifty day moving average price for UPWK is $11.97 and a two-hundred day moving average price translates $11.05 for the stock.
The latest earnings results from Upwork Inc (NASDAQ: UPWK) was released for Sep, 2023. According to the Staffing & Employment Services Company, earnings per share came in at $0.1, beating analysts’ expectations of $0 by 0.1. This compares to -$0.19 EPS in the same period last year. The net profit margin was -4.33% and return on equity was -10.18% for UPWK. The company reported revenue of $175.73 million for the quarter, compared to $158.64 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 10.77 percent. For the current quarter, analysts expect UPWK to generate $168.3M 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.
