Upwork (NASDAQ:UPWK) Given New $15.00 Price Target at Scotiabank

Upwork (NASDAQ:UPWK) had its target price lowered by Scotiabank from $17.00 to $15.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price target would indicate a potential downside of 3.09% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on UPWK. Zacks Research cut shares of Upwork from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. BTIG Research reiterated a “neutral” rating on shares of Upwork in a research note on Wednesday, November 19th. Citigroup restated a “neutral” rating on shares of Upwork in a report on Tuesday. The Goldman Sachs Group increased their target price on Upwork from $25.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, November 19th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $23.00 price target on shares of Upwork in a report on Tuesday. Eight research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $23.55.

Upwork Stock Performance

NASDAQ:UPWK traded down $3.31 during midday trading on Tuesday, reaching $15.48. 6,804,473 shares of the stock traded hands, compared to its average volume of 2,821,275. The stock has a market capitalization of $2.02 billion, a PE ratio of 8.82 and a beta of 1.06. Upwork has a 12-month low of $11.13 and a 12-month high of $22.84. The business has a 50-day moving average of $20.29 and a two-hundred day moving average of $17.72.

Insider Activity at Upwork

In related news, CFO Erica Gessert sold 9,044 shares of Upwork stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $20.59, for a total transaction of $186,215.96. Following the sale, the chief financial officer owned 246,701 shares of the company’s stock, valued at $5,079,573.59. The trade was a 3.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Dave Bottoms sold 9,622 shares of the firm’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $20.66, for a total transaction of $198,790.52. Following the completion of the transaction, the insider owned 345 shares in the company, valued at approximately $7,127.70. The trade was a 96.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 523,248 shares of company stock valued at $10,029,741 over the last quarter. 7.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Upwork

Institutional investors and hedge funds have recently made changes to their positions in the stock. Boston Partners increased its position in Upwork by 785.7% in the 3rd quarter. Boston Partners now owns 2,322,575 shares of the company’s stock valued at $42,962,000 after acquiring an additional 2,060,356 shares in the last quarter. Invenomic Capital Management LP acquired a new position in Upwork during the 3rd quarter worth $24,782,000. LSV Asset Management boosted its position in Upwork by 22.1% in the 2nd quarter. LSV Asset Management now owns 6,534,575 shares of the company’s stock valued at $87,825,000 after buying an additional 1,183,169 shares during the last quarter. Allianz Asset Management GmbH increased its stake in shares of Upwork by 93.6% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,862,153 shares of the company’s stock valued at $34,580,000 after buying an additional 900,525 shares during the period. Finally, Balyasny Asset Management L.P. bought a new stake in shares of Upwork during the second quarter worth $11,955,000. Institutional investors and hedge funds own 77.71% of the company’s stock.

Key Headlines Impacting Upwork

Here are the key news stories impacting Upwork this week:

• Positive Sentiment: Needham reaffirmed a “Buy” rating and set a $25 price target (roughly ~33% upside vs. current levels), which can support buyer interest and limit downside. Benzinga
• Positive Sentiment: Company reported record full‑year 2025 revenue ($787.8M) and strong adjusted EBITDA (225.6M, ~29% margin); Q4 adjusted EBITDA and operating profit improved, and operating cash flow rose — fundamentals that long‑term investors may view favorably. GlobeNewswire: Financial Results
• Neutral Sentiment: Full‑year 2026 guidance was slightly above consensus for EPS (1.43–1.48 vs. 1.41 est.) and roughly in line or modestly above revenue consensus (835–850M vs. ~832.5M) — supportive for FY outlook but not enough to offset near‑term weakness. QuiverQuant: Stock Falls on Q4
• Negative Sentiment: Immediate catalyst: Upwork cut Q1 2026 guidance (EPS $0.260–0.280 vs. $0.360 consensus; revenue $192–197M vs. ~$201M consensus), which drove sharp after‑hours selling. MSN: Stock Plummets After‑Hours
• Negative Sentiment: Q4 execution mixed: revenue (~$198.4M) was slightly below some estimates and multiple outlets report an EPS miss (reports vary between $0.12 and other figures), prompting the steep after‑market drop (~22–23% in some reports). The market focused on the near‑term guidance gap rather than GAAP/adjusted year‑end metrics. Yahoo Finance: Q4 Highlights
• Negative Sentiment: Recent insider selling activity (multiple executives reported sales over the past 6 months) and headline volatility increase short‑term downside risk and may pressure sentiment. QuiverQuant: Insider Activity

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.