Upwork Inc. (NASDAQ:UPWK) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Upwork Inc. (NASDAQ:UPWK) have earned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $20.50.

UPWK has been the topic of several recent research reports. Jefferies Financial Group reissued a “buy” rating and set a $22.00 price target on shares of Upwork in a research report on Tuesday. Citigroup reiterated a “neutral” rating on shares of Upwork in a research note on Tuesday. Needham & Company LLC increased their target price on Upwork from $19.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday. Scotiabank set a $17.00 price objective on Upwork and gave the stock a “sector perform” rating in a research note on Tuesday. Finally, JMP Securities raised their price objective on Upwork from $20.00 to $27.00 and gave the stock a “market outperform” rating in a research note on Wednesday, September 24th.

Insider Buying and Selling

In related news, insider Dave Bottoms sold 10,894 shares of the firm’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $19.16, for a total transaction of $208,729.04. Following the transaction, the insider directly owned 10,359 shares in the company, valued at $198,478.44. This trade represents a 51.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Hayden Brown sold 60,000 shares of the firm’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $13.76, for a total value of $825,600.00. Following the transaction, the chief executive officer owned 1,093,485 shares in the company, valued at $15,046,353.60. This trade represents a 5.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 222,576 shares of company stock worth $3,670,318 over the last ninety days. 7.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of UPWK. AlphaQuest LLC grew its holdings in Upwork by 94.2% during the third quarter. AlphaQuest LLC now owns 50,326 shares of the company’s stock worth $935,000 after acquiring an additional 24,413 shares during the period. Ruffer LLP acquired a new stake in Upwork during the 3rd quarter worth about $2,716,000. Hussman Strategic Advisors Inc. lifted its holdings in shares of Upwork by 25.0% during the 3rd quarter. Hussman Strategic Advisors Inc. now owns 105,000 shares of the company’s stock valued at $1,950,000 after buying an additional 21,000 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Upwork by 3.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 69,010 shares of the company’s stock valued at $1,282,000 after buying an additional 2,357 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of Upwork by 10,417.9% during the 3rd quarter. Parkside Financial Bank & Trust now owns 4,102 shares of the company’s stock valued at $76,000 after buying an additional 4,063 shares during the last quarter. 77.71% of the stock is owned by institutional investors and hedge funds.

Upwork Trading Up 4.5%

Shares of NASDAQ:UPWK traded up $0.71 during trading on Tuesday, reaching $16.34. 2,507,599 shares of the stock were exchanged, compared to its average volume of 2,573,459. The firm’s 50-day moving average price is $17.04 and its 200 day moving average price is $15.16. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 9.43 and a beta of 1.57. The company has a debt-to-equity ratio of 0.59, a quick ratio of 3.36 and a current ratio of 3.36. Upwork has a 12-month low of $11.13 and a 12-month high of $20.54.

Upwork (NASDAQ:UPWK) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.04). The company had revenue of ($387.62) million for the quarter, compared to analyst estimates of $193.33 million. Upwork had a return on equity of 44.83% and a net margin of 31.75%.The business’s revenue was up 4.1% on a year-over-year basis. During the same period last year, the firm posted $0.30 earnings per share. Upwork has set its FY 2025 guidance at 1.350-1.370 EPS. Q4 2025 guidance at 0.310-0.330 EPS. On average, sell-side analysts anticipate that Upwork will post 0.84 earnings per share for the current fiscal year.

Upwork declared that its Board of Directors has initiated a stock buyback program on Wednesday, September 3rd that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 4.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

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.