Upwork (NASDAQ:UPWK - Free Report) had its target price boosted by Citigroup from $11.00 to $19.00 in a research report released on Friday,Benzinga reports. Citigroup currently has a neutral rating on the stock.
A number of other analysts also recently commented on UPWK. The Goldman Sachs Group boosted their price objective on shares of Upwork from $21.00 to $24.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Roth Mkm upped their price target on Upwork from $13.00 to $20.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Royal Bank of Canada dropped their price objective 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. UBS Group decreased their target price on Upwork from $12.00 to $11.00 and set a "neutral" rating on the stock in a research report on Thursday, August 8th. Finally, Canaccord Genuity Group raised their price target on Upwork from $15.00 to $18.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $17.73.
Read Our Latest Analysis on UPWK
Upwork Stock Performance
Shares of NASDAQ:UPWK traded up $0.06 during midday trading on Friday, hitting $16.97. The stock had a trading volume of 1,354,498 shares, compared to its average volume of 2,183,272. The company has a market capitalization of $2.27 billion, a PE ratio of 26.94 and a beta of 1.49. Upwork has a 1 year low of $8.43 and a 1 year high of $17.79. The stock has a 50 day moving average price of $12.93 and a two-hundred day moving average price of $11.40. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 0.87.
Upwork (NASDAQ:UPWK - Get Free Report) last released its 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. The company had revenue of $193.78 million for the quarter, compared to analysts' expectations of $185.55 million. Upwork had a return on equity of 22.84% and a net margin of 11.26%. The firm's quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.12 EPS. As a group, equities analysts predict that Upwork will post 0.65 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Upwork news, CAO Olivier Marie sold 9,153 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $15.92, for a total transaction of $145,715.76. Following the transaction, the chief accounting officer now owns 1,294 shares of the company's stock, valued at $20,600.48. This represents a 87.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Elizabeth A. Nelson sold 75,000 shares of Upwork stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $10.54, for a total value of $790,500.00. Following the completion of the sale, the director now directly owns 48,915 shares of the company's stock, valued at approximately $515,564.10. This represents a 60.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 199,808 shares of company stock worth $2,501,163. 7.60% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Upwork
Large investors have recently added to or reduced their stakes in the business. Plato Investment Management Ltd purchased a new position in Upwork during the second quarter worth approximately $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Upwork in the 2nd quarter worth $29,000. Quarry LP boosted its holdings in Upwork by 104.2% in the second quarter. Quarry LP now owns 4,350 shares of the company's stock valued at $47,000 after acquiring an additional 2,220 shares during the last quarter. KBC Group NV grew its position in Upwork by 45.4% during the third quarter. KBC Group NV now owns 4,791 shares of the company's stock valued at $50,000 after acquiring an additional 1,497 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Upwork during the second quarter worth about $54,000. 77.71% of the stock is currently owned by hedge funds and other institutional investors.
Upwork Company Profile
(
Get Free Report)
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.
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