Upwork (NASDAQ:UPWK) Announces FY 2026 Earnings Guidance

Upwork (NASDAQ:UPWK) issued an update on its FY 2026 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 1.450-1.470 for the period, compared to the consensus earnings per share estimate of 1.400. The company issued revenue guidance of $742.0 million-$750.0 million, compared to the consensus revenue estimate of $742.1 million. Upwork also updated its Q4 2026 guidance to 0.300-0.320 EPS.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on UPWK. Needham & Company LLC raised their price objective on shares of Upwork from $11.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday. Canaccord Genuity Group decreased their target price on Upwork from $10.00 to $9.00 and set a “hold” rating for the company in a research note on Wednesday, August 12th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $8.00 target price on shares of Upwork in a report on Tuesday. Scotiabank raised their price objective on shares of Upwork from $8.00 to $10.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Upwork in a research note on Tuesday, October 27th. Three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Upwork presently has a consensus rating of “Hold” and a consensus price target of $13.45.

Upwork Trading Up 3.5%

Shares of NASDAQ:UPWK traded up $0.34 during midday trading on Tuesday, hitting $10.06. The stock had a trading volume of 2,128,572 shares, compared to its average volume of 3,538,096. Upwork has a 1 year low of $7.44 and a 1 year high of $22.84. The stock has a 50 day moving average price of $8.66 and a two-hundred day moving average price of $10.65. The company has a market capitalization of $1.26 billion, a PE ratio of 12.97 and a beta of 1.06.

Upwork (NASDAQ:UPWK) last announced its quarterly earnings data on Monday, November 2nd. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.09. Upwork had a net margin of 12.94% and a return on equity of 16.70%. The firm had revenue of $185.60 million during the quarter, compared to the consensus estimate of $180.22 million.

Insider Activity

In related news, COO Anthony Kappus sold 45,732 shares of the firm’s stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $8.45, for a total value of $386,435.40. Following the completion of the sale, the chief operating officer owned 76,342 shares in the company, valued at $645,089.90. This trade represents a 37.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Erica Gessert sold 9,336 shares of the company’s stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $8.45, for a total value of $78,889.20. Following the completion of the sale, the chief financial officer owned 373,586 shares in the company, valued at approximately $3,156,801.70. This represents a 2.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 178,868 shares of company stock valued at $1,509,462 in the last three months. 4.90% of the stock is currently owned by company insiders.

Key Stories Impacting Upwork

Here are the key news stories impacting Upwork this week:

• Positive Sentiment: Q3 results exceeded expectations. Upwork reported adjusted EPS of $0.40 versus the $0.31 consensus estimate and revenue of $185.6 million versus expectations of $180.2 million. The results helped drive the recent post-earnings rebound. Upwork Q3 earnings report
• Positive Sentiment: New products and enterprise expansion could support growth. Upwork launched the public beta of Upwork Now, designed to help clients hire experts within minutes, while its Lifted business acquired WorkMotion to expand employer-of-record capabilities. Business Plus revenue also reportedly grew 120% year over year in Q3. Upwork Now announcement
• Positive Sentiment: Full-year profitability guidance improved relative to expectations. Upwork forecasts FY 2026 EPS of $1.45-$1.47, above the $1.40 consensus estimate, while revenue guidance of $742 million-$750 million is broadly in line with expectations.
• Neutral Sentiment: AI remains a strategic focus. Management is embedding Upwork’s freelance marketplace into leading AI tools and developing services for clients and talent as AI changes how work is sourced and completed. The initiatives may create longer-term opportunities, but their financial impact remains uncertain. Upwork AI strategy
• Negative Sentiment: Fourth-quarter guidance was weaker than expected. The company projects EPS of $0.30-$0.32 versus the $0.35 consensus and revenue of $169 million-$177 million versus $174.7 million expected, raising concerns about near-term growth and demand.
• Negative Sentiment: Analysts remain cautious about valuation and long-term relevance. Royal Bank of Canada reaffirmed its “sector perform” rating but set an $8.00 target, below the recent trading level. A Seeking Alpha analysis also maintained a “Sell” view, citing revenue contraction and secular competitive headwinds. Royal Bank of Canada rating

Upwork Company Profile

Upwork Inc operates a global work marketplace that connects businesses with independent professionals and agencies. Clients use the platform to find, evaluate, hire and manage talent for projects across areas such as software development, design, marketing, writing, consulting, customer support and administrative services.

The company provides tools for talent discovery, project collaboration, communications, time tracking, contract management and payments. Its offerings serve both individual clients and larger organizations, with features designed to support recurring engagements, contingent-work programs and enterprise talent management.

Upwork was formed in 2015 through the merger of Elance and oDesk, two online freelance-work platforms, and began trading publicly on the Nasdaq stock exchange in 2018.