Brokerages Set Upwork Inc. (NASDAQ:UPWK) PT at $15.50

Upwork Inc. (NASDAQ:UPWK) has been given an average recommendation of “Hold” by the thirteen ratings firms that are covering the firm, Marketbeat reports. Ten research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $15.50.

UPWK has been the topic of several recent research reports. Roth Capital lowered shares of Upwork from a “buy” rating to a “neutral” rating and set a $10.00 target price on the stock. in a research note on Friday, May 8th. Citigroup dropped their price target on shares of Upwork from $17.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, May 21st. Needham & Company LLC cut their price objective on shares of Upwork from $25.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Citizens Jmp cut shares of Upwork from an “outperform” rating to a “market perform” rating in a research note on Friday, May 8th. Finally, Royal Bank Of Canada lowered their target price on shares of Upwork from $20.00 to $9.00 and set a “sector perform” rating for the company in a report on Monday, May 11th.

Insider Buying and Selling at Upwork

In other Upwork news, CFO Erica Gessert sold 9,169 shares of the stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $8.15, for a total value of $74,727.35. Following the transaction, the chief financial officer owned 341,609 shares of the company’s stock, valued at approximately $2,784,113.35. This represents a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Hayden Brown sold 23,468 shares of the firm’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $8.15, for a total value of $191,264.20. Following the transaction, the chief executive officer owned 797,495 shares in the company, valued at approximately $6,499,584.25. This trade represents a 2.86% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 33,913 shares of company stock worth $276,391 over the last 90 days. 4.90% of the stock is owned by corporate insiders.

Institutional Trading of Upwork

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Handelsbanken Fonder AB boosted its stake in Upwork by 2.2% during the 4th quarter. Handelsbanken Fonder AB now owns 32,200 shares of the company’s stock worth $638,000 after acquiring an additional 700 shares during the last quarter. Straightline Group LLC increased its stake in Upwork by 2.4% in the fourth quarter. Straightline Group LLC now owns 39,222 shares of the company’s stock valued at $777,000 after purchasing an additional 920 shares in the last quarter. Raymond James Financial Inc. increased its stake in Upwork by 4.0% in the third quarter. Raymond James Financial Inc. now owns 24,004 shares of the company’s stock valued at $446,000 after purchasing an additional 928 shares in the last quarter. Maridea Wealth Management LLC raised its holdings in Upwork by 11.0% in the first quarter. Maridea Wealth Management LLC now owns 11,621 shares of the company’s stock worth $127,000 after purchasing an additional 1,152 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in shares of Upwork by 594.4% during the fourth quarter. Farther Finance Advisors LLC now owns 1,361 shares of the company’s stock worth $27,000 after purchasing an additional 1,165 shares in the last quarter. 77.71% of the stock is owned by institutional investors.

Upwork Stock Up 1.4%

Upwork stock opened at $8.68 on Friday. The business’s 50-day simple moving average is $8.74 and its 200 day simple moving average is $12.92. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 10.72 and a beta of 0.99. Upwork has a 12-month low of $7.44 and a 12-month high of $22.84.

Upwork Company Profile

Upwork Inc operates a leading online talent marketplace that connects businesses with independent professionals worldwide. Through its digital platform, the company enables clients across industries—including technology, marketing, creative services and customer support—to source, hire and manage freelance talent on demand. Key features of the Upwork platform include streamlined job posting, proposal evaluation, time-tracking tools, invoicing and secure payment processing, all designed to simplify collaboration between clients and remote workers.

The company traces its roots to the merger of two pioneering freelance marketplaces, Elance (founded in 1998) and oDesk (founded in 2003), which combined in 2015 to form a unified entity.