Analysts Set Upwork Inc. (NASDAQ:UPWK) Price Target at $18.36

Upwork Inc. (NASDAQ:UPWK) has earned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $18.36.

Several analysts have issued reports on UPWK shares. The Goldman Sachs Group upped their price target on shares of Upwork from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. UBS Group boosted their price target on Upwork from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Jefferies Financial Group boosted their target price on shares of Upwork from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Monday. Roth Mkm raised their price target on shares of Upwork from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Canaccord Genuity Group increased their target price on Upwork from $15.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.

Insider Transactions at Upwork

In other news, CAO Olivier Marie sold 9,153 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $15.92, for a total value of $145,715.76. Following the sale, the chief accounting officer now directly owns 1,294 shares of the company’s stock, valued at $20,600.48. The trade was a 87.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Dave Bottoms sold 10,508 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $15.86, for a total transaction of $166,656.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 213,813 shares of company stock worth $3,525,935. Company insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On Upwork

Large investors have recently added to or reduced their stakes in the stock. Plato Investment Management Ltd purchased a new position in shares of Upwork during the 2nd quarter valued at about $27,000. Quarry LP grew its holdings 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 buying an additional 2,220 shares in the last quarter. KBC Group NV increased its position in Upwork by 45.4% in the third quarter. KBC Group NV now owns 4,791 shares of the company’s stock worth $50,000 after purchasing an additional 1,497 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Upwork in the second quarter worth about $54,000. Finally, CWM LLC increased its position in shares of Upwork by 71.9% during the 3rd quarter. CWM LLC now owns 5,896 shares of the company’s stock valued at $62,000 after purchasing an additional 2,467 shares during the last quarter. Institutional investors own 77.71% of the company’s stock.

Upwork Stock Performance

Upwork stock opened at $15.98 on Wednesday. Upwork has a 1 year low of $8.43 and a 1 year high of $18.14. The company has a market cap of $2.14 billion, a PE ratio of 25.37 and a beta of 1.59. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 0.87. The company’s 50-day moving average is $16.14 and its two-hundred day moving average is $12.52.

Upwork (NASDAQ:UPWK) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.03. Upwork had a return on equity of 22.84% and a net margin of 11.26%. The company had revenue of $193.78 million during the quarter, compared to the consensus estimate of $185.55 million. During the same period in the prior year, the company earned $0.12 earnings per share. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. Equities analysts anticipate that Upwork will post 0.65 earnings per share for the current year.

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.