Upwork Inc. (NASDAQ:UPWK) shares traded 2.92% higher at $14.80 on Wall Street last session.
In accordance with the data, 10 analysts cover Upwork Inc. (NASDAQ:UPWK). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $18.00 and a low of $9.00, we find $15.00. Given the previous closing price of $14.38, this indicates a potential upside of 4.31 percent. UPWK stock price is now 56.92% away from the 50-day moving average and 36.19% away from the 200-day moving average. The market capitalization of the company currently stands at $1.92B.
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It has been rated a hold by 3 analysts and a buy by 7. Brokers who have rated the stock have averaged $13.70 as their price target over the next twelve months.
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 $0.24 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 $14.98 million. Insiders disposed of 311,989 shares of company stock worth roughly $4.62 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 $6,660,000. HRT FINANCIAL LP invested $3,376,000 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 $3,188,000. ACADIAN ASSET MANAGEMENT LLC acquired a new stake in UPWK for approximately $2,987,000. MIZUHO MARKETS CAYMAN LP purchased a new stake in UPWK valued at around $2,019,000 in the second quarter. In total, there are 299 active investors with 76.00% ownership of the company’s stock.
Upwork Inc. (NASDAQ: UPWK) opened at $14.60 on Friday. During the past 12 months, Upwork Inc. has had a low of $6.56 and a high of $21.91. As of last week, the company has a debt-to-equity ratio of 1.16, a current ratio of 3.10, and a quick ratio of 3.10. The fifty day moving average price for UPWK is $9.56 and a two-hundred day moving average price translates $10.88 for the stock.
The latest earnings results from Upwork Inc. (NASDAQ: UPWK) was released for Jun, 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 -$0.18 EPS in the same period last year. The company reported revenue of $168.61 million for the quarter, compared to $156.9 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 7.47 percent. For the current quarter, analysts expect UPWK to generate $168.22M in revenue.
