Upwork (UPWK) Scheduled to Post Quarterly Earnings on Wednesday

Upwork (NASDAQ:UPWK) is set to post its quarterly earnings results after the market closes on Wednesday, November 6th. Analysts expect Upwork to post earnings of $0.23 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The company had revenue of $193.13 million during the quarter, compared to the consensus estimate of $193.05 million. Upwork had a return on equity of 20.75% and a net margin of 10.00%. Upwork’s revenue was up 14.5% on a year-over-year basis. During the same period last year, the company earned ($0.03) earnings per share. On average, analysts expect Upwork to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Upwork Stock Down 2.7 %

Shares of UPWK opened at $13.60 on Tuesday. The company has a market cap of $1.80 billion, a PE ratio of 24.73 and a beta of 1.49. The business has a fifty day moving average of $10.59 and a 200 day moving average of $10.86. Upwork has a 52-week low of $8.43 and a 52-week high of $16.36. The company has a quick ratio of 3.00, a current ratio of 3.00 and a debt-to-equity ratio of 0.99.

Insider Activity

In related news, CFO Erica Gessert sold 20,353 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $9.65, for a total transaction of $196,406.45. Following the sale, the chief financial officer now owns 107,313 shares of the company’s stock, valued at $1,035,570.45. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Hayden Brown sold 31,506 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $9.65, for a total transaction of $304,032.90. Following the sale, the chief executive officer now owns 1,190,561 shares of the company’s stock, valued at $11,488,913.65. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Erica Gessert sold 20,353 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $9.65, for a total value of $196,406.45. Following the sale, the chief financial officer now directly owns 107,313 shares in the company, valued at approximately $1,035,570.45. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 176,783 shares of company stock worth $1,800,221. Company insiders own 7.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on UPWK shares. Canaccord Genuity Group reduced their target price on Upwork from $19.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Citigroup reduced their target price on Upwork from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 25th. Roth Mkm reduced their target price on Upwork from $19.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. The Goldman Sachs Group reduced their target price on Upwork from $24.00 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, UBS Group reduced their target price on Upwork from $12.00 to $11.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.27.

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.