Upwork (NASDAQ:UPWK) Stock Price Target Raised at UBS Group

Upwork (NASDAQ:UPWK) had its price target lifted by equities researchers at UBS Group from $9.00 to $10.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group‘s price target would indicate a potential downside of 3.33% from the company’s previous close.

Several other research analysts have also weighed in on UPWK. Needham & Company LLC boosted their price target on Upwork from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday. Royal Bank Of Canada reissued a “sector perform” rating and issued a $8.00 price objective on shares of Upwork in a report on Tuesday. Weiss Ratings reissued a “sell (d+)” rating on shares of Upwork in a research note on Tuesday, October 27th. Canaccord Genuity Group lowered their target price on shares of Upwork from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Wednesday, August 12th. Finally, Scotiabank upped their price target on shares of Upwork from $8.00 to $10.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Upwork presently has a consensus rating of “Hold” and a consensus price target of $13.55.

Upwork Trading Up 6.4%

Shares of NASDAQ UPWK traded up $0.62 during mid-day trading on Tuesday, hitting $10.35. The company had a trading volume of 3,733,200 shares, compared to its average volume of 3,547,764. The company has a market capitalization of $1.29 billion, a PE ratio of 13.50 and a beta of 1.06. The firm has a 50-day simple moving average of $8.66 and a two-hundred day simple moving average of $10.65. Upwork has a one year low of $7.44 and a one year high of $22.84.

Upwork (NASDAQ:UPWK) last released its earnings results on Monday, November 2nd. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.09. Upwork had a return on equity of 16.70% and a net margin of 12.94%. The business had revenue of $185.60 million for the quarter, compared to analyst estimates of $180.22 million.

Insiders Place Their Bets

In other Upwork news, CFO Erica Gessert sold 22,844 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $8.43, for a total transaction of $192,574.92. Following the transaction, the chief financial officer owned 364,789 shares of the company’s stock, valued at $3,075,171.27. The trade was a 5.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Anthony Kappus sold 45,732 shares of the company’s stock in a transaction that occurred on 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 represents a 37.46% 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 have sold a total of 178,868 shares of company stock valued at $1,509,462 over the last 90 days. 4.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Upwork

Hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd increased its holdings in shares of Upwork by 40.7% in the third quarter. Covestor Ltd now owns 5,356 shares of the company’s stock valued at $44,000 after purchasing an additional 1,550 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Upwork in the third quarter valued at about $687,000. Lakewood Asset Management LLC acquired a new stake in shares of Upwork during the 3rd quarter worth about $259,000. SBI Securities Co. Ltd. lifted its stake in shares of Upwork by 263.4% during the 3rd quarter. SBI Securities Co. Ltd. now owns 13,080 shares of the company’s stock worth $107,000 after buying an additional 9,481 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of Upwork by 1.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 471,637 shares of the company’s stock worth $3,849,000 after buying an additional 6,194 shares during the period. 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: 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.