Upwork (NASDAQ:UPWK – Get Rating) had its price objective decreased by stock analysts at Piper Sandler from $40.00 to $30.00 in a research note issued to investors on Tuesday, The Fly reports. Piper Sandler’s price objective suggests a potential upside of 57.65% from the stock’s current price.
UPWK has been the topic of several other reports. Stifel Nicolaus decreased their price target on shares of Upwork from $40.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, February 11th. Zacks Investment Research cut shares of Upwork from a “hold” rating to a “sell” rating in a research note on Saturday, February 19th. The Goldman Sachs Group decreased their target price on shares of Upwork from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Friday, February 11th. JMP Securities decreased their target price on shares of Upwork from $55.00 to $48.00 and set an “outperform” rating on the stock in a research report on Friday, February 11th. Finally, Needham & Company LLC decreased their target price on shares of Upwork from $60.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, February 11th. One equities research analyst has rated the stock with a sell rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $49.10.
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NASDAQ:UPWK opened at $19.03 on Tuesday. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 2.16. The firm has a 50-day moving average price of $27.06 and a two-hundred day moving average price of $38.68. Upwork has a twelve month low of $19.00 and a twelve month high of $64.49. The company has a market capitalization of $2.46 billion, a P/E ratio of -43.25 and a beta of 1.94.
Upwork (NASDAQ:UPWK – Get Rating) last released its quarterly earnings results on Thursday, February 10th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.01). Upwork had a negative return on equity of 19.76% and a negative net margin of 11.19%. The firm had revenue of $136.86 million for the quarter, compared to analyst estimates of $131.79 million. During the same period in the prior year, the business earned $0.01 earnings per share. Upwork’s revenue for the quarter was up 28.9% on a year-over-year basis. On average, equities research analysts predict that Upwork will post -0.72 earnings per share for the current year.
In other news, insider Eric Gilpin sold 4,019 shares of Upwork stock in a transaction that occurred on Friday, February 18th. The shares were sold at an average price of $24.41, for a total transaction of $98,103.79. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Jeff Mccombs sold 1,661 shares of Upwork stock in a transaction that occurred on Friday, February 18th. The shares were sold at an average price of $24.42, for a total transaction of $40,561.62. The disclosure for this sale can be found here. Insiders sold 50,320 shares of company stock worth $1,508,326 in the last 90 days. 25.30% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Macquarie Group Ltd. increased its stake in shares of Upwork by 0.9% in the third quarter. Macquarie Group Ltd. now owns 620,771 shares of the company’s stock worth $27,954,000 after buying an additional 5,296 shares during the last quarter. Segall Bryant & Hamill LLC increased its stake in shares of Upwork by 18.2% in the third quarter. Segall Bryant & Hamill LLC now owns 216,926 shares of the company’s stock worth $9,768,000 after buying an additional 33,379 shares during the last quarter. Sphera Funds Management LTD. bought a new stake in shares of Upwork in the third quarter worth $450,000. Invesco Ltd. increased its stake in shares of Upwork by 1,775.7% in the second quarter. Invesco Ltd. now owns 603,395 shares of the company’s stock worth $35,172,000 after buying an additional 571,226 shares during the last quarter. Finally, Frontier Capital Management Co. LLC increased its stake in shares of Upwork by 73.3% in the third quarter. Frontier Capital Management Co. LLC now owns 626,861 shares of the company’s stock worth $28,228,000 after buying an additional 265,226 shares during the last quarter. Institutional investors own 69.59% of the company’s stock.
Upwork Company Profile (Get Rating)
Upwork, Inc operates an online marketplace that enables businesses to find, hire, and pay freelancers for short-term and longer-term projects. Its marketplace offerings include Upwork Basic, Upwork Plus, Upwork Business, Upwork Enterprise, and Upwork Payroll. The company was founded by Odysseas Tsatalos and Efstratios Karamanlakis in December 2013 and is headquartered in San Francisco, CA.
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