Upwork (NASDAQ:UPWK) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Upwork (NASDAQ:UPWK) from a hold rating to a buy rating in a report issued on Saturday.

Several other research firms also recently weighed in on UPWK. Citizens Jmp reissued a “market outperform” rating and set a $27.00 price objective on shares of Upwork in a report on Wednesday, November 19th. Canaccord Genuity Group set a $22.00 price target on Upwork in a research note on Tuesday, February 10th. Needham & Company LLC restated a “buy” rating and set a $25.00 price target on shares of Upwork in a report on Tuesday, February 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Upwork in a research note on Wednesday, January 21st. Finally, UBS Group cut their target price on shares of Upwork from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.60.

Upwork Price Performance

UPWK stock opened at $13.17 on Friday. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 15.68 and a beta of 1.06. The company has a 50 day simple moving average of $19.03 and a 200 day simple moving average of $17.76. Upwork has a 1 year low of $11.13 and a 1 year high of $22.84.

Upwork declared that its board has approved a share buyback program on Wednesday, February 18th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 18% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Upwork

In other Upwork news, CFO Erica Gessert sold 26,292 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $13.80, for a total transaction of $362,829.60. Following the completion of the transaction, the chief financial officer owned 298,386 shares in the company, valued at approximately $4,117,726.80. This trade represents a 8.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Hayden Brown sold 123,152 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $13.80, for a total transaction of $1,699,497.60. Following the completion of the sale, the chief executive officer directly owned 776,067 shares in the company, valued at approximately $10,709,724.60. This represents a 13.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 585,204 shares of company stock valued at $10,429,236. 7.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Financial Gravity Companies Inc. acquired a new position in Upwork in the second quarter valued at approximately $5,118,000. Ruffer LLP bought a new stake in shares of Upwork in the 3rd quarter valued at $2,716,000. Aviance Capital Partners LLC acquired a new position in shares of Upwork during the 2nd quarter valued at $619,000. Campbell & CO Investment Adviser LLC grew its holdings in Upwork by 80.6% in the second quarter. Campbell & CO Investment Adviser LLC now owns 251,263 shares of the company’s stock worth $3,377,000 after purchasing an additional 112,133 shares during the period. Finally, Allianz Asset Management GmbH increased its stake in Upwork by 93.6% in the third quarter. Allianz Asset Management GmbH now owns 1,862,153 shares of the company’s stock valued at $34,580,000 after purchasing an additional 900,525 shares in the last quarter. 77.71% of the stock is owned by institutional investors.

Key Headlines Impacting Upwork

Here are the key news stories impacting Upwork this week:

• Positive Sentiment: Board authorizes a flexible $300 million buyback (authorizes repurchases of roughly 18% of shares), a meaningful capital‑return action that can reduce float and support EPS and investor sentiment. Globe and Mail: Buyback Announcement
• Positive Sentiment: Market reaction was initially positive — coverage notes shares rose on the buyback news, showing short‑term demand lift from the announcement. Investing.com: Market Reaction
• Neutral Sentiment: Analyst / institutional context is mixed: consensus is a modest “moderate buy” with an average target (~$22.60) well above the current price, and institutions own ~78% of the stock — the buyback may prompt revisions but not unanimous upgrades. MarketBeat: Analyst & Ownership Context
• Negative Sentiment: Significant insider selling this week: CEO Hayden Brown sold 123,152 shares (~$1.7M at ~$13.80); CFO Erica Gessert and other insiders (Dave Bottoms) also reduced positions — large insider disposals can be interpreted negatively by investors. SEC filings for the CEO sale are here and the InsiderTrades writeup for other insider sales is here. CEO SEC Filing InsiderTrades: Insider Sales
• Negative Sentiment: Technicals/liquidity are unfavorable near term: shares remain well below the 50‑day moving average and today’s volume is light versus average, increasing downside volatility risk despite the buyback. MarketBeat: Technicals

About Upwork

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.