Piper Sandler reiterated their overweight rating on shares of Upwork (NASDAQ:UPWK – Free Report) in a research report report published on Thursday morning,Benzinga reports. They currently have a $18.00 target price on the stock, up from their prior target price of $13.00.
UPWK has been the subject of a number of other research reports. UBS Group decreased their price objective on Upwork from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Canaccord Genuity Group cut their target price on shares of Upwork from $19.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. 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. The Goldman Sachs Group dropped their price target on Upwork from $24.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Citigroup reduced their target price on shares of Upwork from $13.00 to $11.00 and set a “neutral” rating on the stock in a report on Wednesday, September 25th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Upwork has an average rating of “Moderate Buy” and an average target price of $17.00.
Check Out Our Latest Analysis on Upwork
Upwork Trading Down 2.0 %
Upwork (NASDAQ:UPWK – Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.03. Upwork had a return on equity of 23.59% and a net margin of 11.26%. The business had revenue of $193.13 million for the quarter, compared to analysts’ expectations of $193.05 million. During the same period in the previous year, the firm posted ($0.03) EPS. The business’s revenue was up 14.5% on a year-over-year basis. On average, equities research analysts predict that Upwork will post 0.51 EPS for the current fiscal year.
Insiders Place Their Bets
In other Upwork news, CFO Erica Gessert sold 4,491 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $10.57, for a total value of $47,469.87. Following the completion of the transaction, the chief financial officer now directly owns 111,255 shares in the company, valued at approximately $1,175,965.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP Dave Bottoms sold 5,818 shares of Upwork stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $9.81, for a total transaction of $57,074.58. Following the transaction, the vice president now owns 5,818 shares in the company, valued at approximately $57,074.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Erica Gessert sold 4,491 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $10.57, for a total transaction of $47,469.87. Following the transaction, the chief financial officer now directly owns 111,255 shares of the company’s stock, valued at approximately $1,175,965.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 176,783 shares of company stock worth $1,800,221 over the last 90 days. Company insiders own 7.60% of the company’s stock.
Hedge Funds Weigh In On Upwork
Several institutional investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board increased its position in shares of Upwork by 186.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 306,900 shares of the company’s stock valued at $3,299,000 after purchasing an additional 199,900 shares during the last quarter. Vanguard Group Inc. raised its stake in Upwork by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 15,996,306 shares of the company’s stock worth $196,115,000 after acquiring an additional 770,088 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in Upwork in the first quarter valued at $3,165,000. Acadian Asset Management LLC boosted its stake in Upwork by 19.0% in the first quarter. Acadian Asset Management LLC now owns 956,574 shares of the company’s stock valued at $11,720,000 after acquiring an additional 152,539 shares in the last quarter. Finally, Bayesian Capital Management LP purchased a new position in shares of Upwork during the first quarter worth about $567,000. 77.71% of the stock is owned by institutional investors and hedge funds.
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.
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