Upwork (NASDAQ:UPWK) Research Coverage Started at Scotiabank

Scotiabank started coverage on shares of Upwork (NASDAQ:UPWK) in a report released on Wednesday, Marketbeat Ratings reports. The brokerage issued a sector perform rating and a $15.00 price target on the stock.

Several other analysts also recently weighed in on UPWK. Needham & Company LLC lifted their target price on shares of Upwork from $17.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Jefferies Financial Group lifted their target price on shares of Upwork from $19.00 to $20.00 and gave the company a “buy” rating in a report on Monday, January 6th. UBS Group lifted their target price on shares of Upwork from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Citigroup lifted their target price on shares of Upwork from $11.00 to $19.00 and gave the company a “neutral” rating in a report on Friday, November 29th. Finally, Roth Mkm lowered their target price on shares of Upwork from $20.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Upwork presently has an average rating of “Moderate Buy” and an average price target of $18.58.

Upwork Trading Up 2.1 %

Shares of Upwork stock opened at $12.60 on Wednesday. Upwork has a 1 year low of $8.43 and a 1 year high of $18.14. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.39 and a current ratio of 3.39. The company has a market capitalization of $1.71 billion, a P/E ratio of 8.24 and a beta of 1.61. The company’s fifty day moving average is $15.72 and its two-hundred day moving average is $14.12.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.03 earnings per share (EPS) 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%. Analysts forecast that Upwork will post 0.84 earnings per share for the current year.

Insider Activity at Upwork

In other Upwork news, CEO Hayden Brown sold 20,000 shares of Upwork stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $16.84, for a total transaction of $336,800.00. Following the completion of the transaction, the chief executive officer now owns 1,229,420 shares in the company, valued at approximately $20,703,432.80. The trade was a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Erica Gessert sold 4,279 shares of Upwork stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $17.11, for a total transaction of $73,213.69. Following the transaction, the chief financial officer now owns 133,093 shares of the company’s stock, valued at approximately $2,277,221.23. The trade was a 3.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 288,187 shares of company stock worth $4,769,213 over the last 90 days. Company insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Upwork

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. KBC Group NV raised its position in Upwork by 45.4% during the third quarter. KBC Group NV now owns 4,791 shares of the company’s stock worth $50,000 after acquiring an additional 1,497 shares during the last quarter. Quarry LP raised its position in Upwork by 42.6% during the third quarter. Quarry LP now owns 6,201 shares of the company’s stock worth $65,000 after acquiring an additional 1,851 shares during the last quarter. Nkcfo LLC acquired a new position in Upwork during the fourth quarter worth about $82,000. SBI Securities Co. Ltd. acquired a new position in Upwork during the fourth quarter worth about $84,000. Finally, Financial Management Professionals Inc. acquired a new position in shares of Upwork in the fourth quarter valued at approximately $97,000. Institutional investors and hedge funds own 77.71% of the company’s stock.

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.