Upwork Inc. (NASDAQ:UPWK) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Upwork Inc. (NASDAQ:UPWK) have been given an average recommendation of “Moderate Buy” by the twelve brokerages that are covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $18.58.

A number of analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Upwork from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Roth Mkm dropped their price target on Upwork from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Jefferies Financial Group increased their price objective on Upwork from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Scotiabank assumed coverage on Upwork in a research report on Wednesday, March 12th. They issued a “sector perform” rating and a $15.00 target price for the company. Finally, Royal Bank of Canada upped their target price on Upwork from $16.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 13th.

Upwork Price Performance

Shares of NASDAQ UPWK opened at $13.57 on Monday. The stock’s 50-day simple moving average is $15.39 and its two-hundred day simple moving average is $14.33. Upwork has a twelve month low of $8.43 and a twelve month high of $18.14. The firm has a market capitalization of $1.84 billion, a P/E ratio of 8.87 and a beta of 1.61. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.62.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.79. Upwork had a net margin of 28.02% and a return on equity of 50.83%. As a group, equities analysts anticipate that Upwork will post 0.84 EPS for the current fiscal year.

Insider Buying and Selling at Upwork

In related news, CEO Hayden Brown sold 21,122 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $16.15, for a total value of $341,120.30. Following the completion of the transaction, the chief executive officer now directly owns 1,275,083 shares of the company’s stock, valued at $20,592,590.45. This represents a 1.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Dave Bottoms sold 5,411 shares of Upwork stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $13.07, for a total value of $70,721.77. Following the sale, the insider now directly owns 9,593 shares in the company, valued at approximately $125,380.51. The trade was a 36.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 193,365 shares of company stock valued at $3,050,760 in the last quarter. Company insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Upwork

Several institutional investors and hedge funds have recently added to or reduced their stakes in UPWK. Polar Asset Management Partners Inc. bought a new position in shares of Upwork in the 4th quarter worth about $2,013,000. Cache Advisors LLC bought a new position in shares of Upwork during the fourth quarter valued at approximately $1,324,000. PharVision Advisers LLC purchased a new position in shares of Upwork during the fourth quarter valued at approximately $345,000. Two Sigma Advisers LP boosted its position in shares of Upwork by 40.1% in the 4th quarter. Two Sigma Advisers LP now owns 1,488,500 shares of the company’s stock worth $24,337,000 after purchasing an additional 426,100 shares in the last quarter. Finally, Two Sigma Investments LP boosted its position in shares of Upwork by 49.2% in the 4th quarter. Two Sigma Investments LP now owns 2,436,680 shares of the company’s stock worth $39,840,000 after purchasing an additional 803,929 shares in the last quarter. Hedge funds and other institutional investors own 77.71% of the company’s stock.

Upwork Company Profile

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.