Roth Mkm Issues Positive Forecast for Upwork (NASDAQ:UPWK) Stock Price

Upwork (NASDAQ:UPWK) had its target price boosted by Roth Mkm from $13.00 to $20.00 in a report published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also commented on the company. The Goldman Sachs Group cut their price target on Upwork from $24.00 to $21.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Citigroup dropped their price target on Upwork from $13.00 to $11.00 and set a “neutral” rating for the company in a research note on Wednesday, September 25th. UBS Group dropped their price target on Upwork from $12.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada dropped their price target on Upwork from $15.00 to $11.00 and set a “sector perform” rating for the company in a research note on Thursday, August 8th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $18.00 price objective (up previously from $13.00) on shares of Upwork in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Upwork Stock Down 1.7 %

UPWK stock traded down $0.28 during trading on Thursday, reaching $15.97. 3,124,372 shares of the stock were exchanged, compared to its average volume of 2,169,147. The company has a current ratio of 3.00, a quick ratio of 3.00 and a debt-to-equity ratio of 0.99. The firm’s 50 day moving average is $11.00 and its 200 day moving average is $10.96. The firm has a market cap of $2.11 billion, a P/E ratio of 25.79 and a beta of 1.49. Upwork has a twelve month low of $8.43 and a twelve month high of $17.79.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. Upwork had a return on equity of 23.59% and a net margin of 11.26%. The company had revenue of $193.13 million during the quarter, compared to the consensus estimate of $193.05 million. During the same period last year, the business posted ($0.03) earnings per share. Upwork’s revenue was up 14.5% on a year-over-year basis. As a group, research analysts forecast that Upwork will post 0.51 EPS for the current year.

Insider Activity at Upwork

In other news, CFO Erica Gessert sold 20,353 shares of Upwork stock in a transaction on Monday, August 19th. The shares were sold at an average price of $9.65, for a total transaction of $196,406.45. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Upwork news, CFO Erica Gessert sold 20,353 shares of Upwork stock in a transaction on Monday, August 19th. The shares were sold at an average price of $9.65, for a total value of $196,406.45. Following the completion of the transaction, the chief financial officer now owns 107,313 shares of the company’s stock, valued at approximately $1,035,570.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Dave Bottoms sold 5,626 shares of Upwork stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $10.57, for a total transaction of $59,466.82. Following the completion of the transaction, the vice president now directly owns 15,196 shares of the company’s stock, valued at $160,621.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 176,783 shares of company stock valued at $1,800,221. Insiders own 7.60% of the company’s stock.

Institutional Trading of Upwork

A number of institutional investors and hedge funds have recently modified their holdings of UPWK. Plato Investment Management Ltd purchased a new stake in Upwork during the 2nd quarter valued at about $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Upwork during the 2nd quarter valued at about $29,000. Headlands Technologies LLC purchased a new stake in Upwork during the 1st quarter valued at about $49,000. Quarry LP grew its stake in Upwork by 104.2% during the 2nd quarter. Quarry LP now owns 4,350 shares of the company’s stock valued at $47,000 after acquiring an additional 2,220 shares in the last quarter. Finally, KBC Group NV boosted its holdings in Upwork by 45.4% in the 3rd quarter. KBC Group NV now owns 4,791 shares of the company’s stock valued at $50,000 after purchasing an additional 1,497 shares during the last quarter. Hedge funds and other institutional investors own 77.71% of the company’s stock.

About Upwork

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.