Upwork (UPWK) to Release Earnings on Wednesday

Upwork (NASDAQ:UPWK - Get Free Report) is scheduled to release its earnings data after the market closes on Wednesday, November 6th. Analysts expect Upwork to post earnings of $0.23 per share for the quarter. Persons interested in participating in the company's earnings conference call can do so using this link.

Upwork (NASDAQ:UPWK - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.03. The firm 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%. The business's revenue was up 14.5% compared to the same quarter last year. 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 Up 0.7 %

UPWK stock traded up $0.10 during mid-day trading on Wednesday, reaching $13.65. The company had a trading volume of 2,030,235 shares, compared to its average volume of 2,122,063. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.00 and a quick ratio of 3.00. The stock has a 50 day simple moving average of $10.35 and a two-hundred day simple moving average of $10.80. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 24.82 and a beta of 1.54. Upwork has a 52 week low of $8.43 and a 52 week high of $16.36.

Insider Activity at Upwork

In related news, CEO Hayden Brown sold 31,506 shares of the business's stock in a transaction on Monday, August 19th. The stock was sold at an average price of $9.65, for a total value of $304,032.90. Following the completion of the sale, the chief executive officer now directly owns 1,190,561 shares in the company, valued at $11,488,913.65. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Erica Gessert sold 20,353 shares of the company's stock in a transaction on Monday, August 19th. The stock was 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Hayden Brown sold 31,506 shares of the company's stock in a transaction on Monday, August 19th. The shares were sold at an average price of $9.65, for a total value of $304,032.90. Following the sale, the chief executive officer now owns 1,190,561 shares of the company's stock, valued at approximately $11,488,913.65. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 176,783 shares of company stock worth $1,800,221 in the last ninety days. 7.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on UPWK. Citigroup decreased 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. Canaccord Genuity Group reduced their target price on Upwork from $19.00 to $15.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. The Goldman Sachs Group reduced their target price on Upwork from $24.00 to $21.00 and set a "buy" rating for the company in a research note on Thursday, August 8th. UBS Group reduced their target price on Upwork from $12.00 to $11.00 and set a "neutral" rating for the company in a research note on Thursday, August 8th. Finally, Piper Sandler reduced their target price on Upwork from $20.00 to $13.00 and set an "overweight" rating for the company in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $15.27.

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.