Analysts Set Upwork Inc. (NASDAQ:UPWK) Price Target at $18.58

Shares of Upwork Inc. (NASDAQ:UPWK - Get Free Report) have earned an average rating of "Moderate Buy" from the twelve analysts that are presently covering the stock, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $18.58.

Several brokerages recently weighed in on UPWK. Needham & Company LLC lifted their price objective on Upwork from $17.00 to $19.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Scotiabank initiated coverage on Upwork in a report on Wednesday, March 12th. They set a "sector perform" rating and a $15.00 price objective on the stock. JMP Securities reiterated a "market outperform" rating and set a $18.00 price target on shares of Upwork in a research report on Thursday, January 30th. UBS Group boosted their price target on shares of Upwork from $18.00 to $19.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Finally, Jefferies Financial Group decreased their target price on Upwork from $21.00 to $20.00 and set a "buy" rating on the stock in a research note on Monday, April 7th.

Insider Buying and Selling

In other news, CEO Hayden Brown sold 21,122 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $16.15, for a total value of $341,120.30. Following the completion of the sale, the chief executive officer now directly owns 1,275,083 shares in the company, valued at $20,592,590.45. This represents a 1.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Dave Bottoms sold 5,411 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $13.07, for a total value of $70,721.77. Following the completion of the sale, the insider now owns 9,593 shares of the company's stock, valued at $125,380.51. The trade was a 36.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 193,365 shares of company stock worth $3,050,760 in the last three months. Insiders own 7.60% of the company's stock.

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Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in Upwork by 51.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 15,498,688 shares of the company's stock valued at $253,405,000 after acquiring an additional 5,289,493 shares during the period. Invesco Ltd. increased its position in shares of Upwork by 1,674.0% during the fourth quarter. Invesco Ltd. now owns 1,748,320 shares of the company's stock worth $28,585,000 after purchasing an additional 1,649,766 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of Upwork by 86.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,303,035 shares of the company's stock worth $54,005,000 after purchasing an additional 1,534,078 shares in the last quarter. Contour Asset Management LLC acquired a new position in Upwork during the 4th quarter valued at about $24,633,000. Finally, LSV Asset Management purchased a new stake in Upwork in the fourth quarter valued at about $18,838,000. 77.71% of the stock is owned by hedge funds and other institutional investors.

Upwork Stock Down 0.4 %

Upwork stock traded down $0.06 during trading on Friday, hitting $12.75. 165,983 shares of the company were exchanged, compared to its average volume of 2,233,828. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 0.62. The business's 50 day moving average is $14.13 and its 200 day moving average is $14.65. Upwork has a 52 week low of $8.43 and a 52 week high of $18.14. The company has a market capitalization of $1.73 billion, a P/E ratio of 8.37 and a beta of 1.60.

Upwork (NASDAQ:UPWK - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.79. Upwork had a net margin of 28.02% and a return on equity of 50.83%. Analysts predict that Upwork will post 0.84 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.