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

Upwork Inc. (NASDAQ:UPWK - Get Free Report) has received a consensus rating of "Moderate Buy" from the twelve ratings firms that are covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $18.58.

UPWK has been the topic of several recent research reports. Royal Bank of Canada lifted their target price on Upwork from $16.00 to $18.00 and gave the stock a "sector perform" rating in a report on Thursday, February 13th. Citigroup upped their target price on Upwork from $11.00 to $19.00 and gave the company a "neutral" rating in a report on Friday, November 29th. JMP Securities restated a "market outperform" rating and set a $18.00 price target on shares of Upwork in a report on Thursday, January 30th. Jefferies Financial Group upped their price objective on shares of Upwork from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Finally, Roth Mkm lowered their target price on shares of Upwork from $20.00 to $19.00 and set a "buy" rating for the company in a research note on Thursday, February 13th.

Upwork Trading Down 0.1 %

Shares of Upwork stock traded down $0.02 on Monday, hitting $13.41. The stock had a trading volume of 726,288 shares, compared to its average volume of 2,208,068. The stock has a 50 day moving average of $15.48 and a 200 day moving average of $14.24. The firm has a market capitalization of $1.82 billion, a P/E ratio of 8.85 and a beta of 1.61. Upwork has a twelve month low of $8.43 and a twelve month high of $18.14. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39.

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Upwork (NASDAQ:UPWK - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.03 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts expect that Upwork will post 0.84 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Hayden Brown sold 21,122 shares of Upwork stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $16.15, for a total transaction of $341,120.30. Following the completion of the transaction, the chief executive officer now directly owns 1,275,083 shares in the company, valued at $20,592,590.45. This trade represents a 1.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Erica Gessert sold 13,765 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $16.15, for a total transaction of $222,304.75. Following the sale, the chief financial officer now directly owns 156,828 shares of the company's stock, valued at approximately $2,532,772.20. The trade was a 8.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 173,103 shares of company stock worth $2,785,935 in the last three months. Company insiders own 7.60% of the company's stock.

Hedge Funds Weigh In On Upwork

Hedge funds have recently added to or reduced their stakes in the stock. KBC Group NV lifted its holdings in shares of Upwork by 45.4% in the third 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 in the last quarter. Quarry LP raised its position in Upwork by 42.6% in the 3rd quarter. Quarry LP now owns 6,201 shares of the company's stock valued at $65,000 after buying an additional 1,851 shares during the last quarter. Citizens Financial Group Inc. RI lifted its stake in Upwork by 18.4% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 13,719 shares of the company's stock valued at $143,000 after acquiring an additional 2,129 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Upwork by 3.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 67,716 shares of the company's stock worth $1,107,000 after acquiring an additional 2,148 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Upwork by 1.4% in the 4th quarter. Rhumbline Advisers now owns 178,202 shares of the company's stock worth $2,914,000 after acquiring an additional 2,387 shares in the last quarter. Institutional investors and hedge funds own 77.71% of the company's stock.

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.