Upwork Inc. (NASDAQ:UPWK) Receives $22.92 Average PT from Analysts

by · The Cerbat Gem

Shares of Upwork Inc. (NASDAQ:UPWK – Get Free Report) have received an average rating of “Moderate Buy” from the fourteen research firms that are currently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $22.9167.

A number of brokerages have recently issued reports on UPWK. Needham & Company LLC reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Upwork in a research report on Wednesday, November 19th. Citizens Jmp reaffirmed a “market outperform” rating and set a $27.00 price target on shares of Upwork in a research report on Wednesday, November 19th. The Goldman Sachs Group raised their price objective on Upwork from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, November 19th. Citigroup restated a “market outperform” rating on shares of Upwork in a research note on Wednesday, November 19th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $22.00 target price on shares of Upwork in a research report on Tuesday, November 4th.

View Our Latest Stock Report on Upwork

Upwork Trading Up 0.6%

Shares of NASDAQ UPWK opened at $20.60 on Wednesday. The stock has a market capitalization of $2.69 billion, a PE ratio of 11.77 and a beta of 1.02. Upwork has a 12-month low of $11.13 and a 12-month high of $22.32. The stock’s fifty day simple moving average is $18.20 and its two-hundred day simple moving average is $16.07.

Upwork (NASDAQ:UPWK – Get Free Report) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). Upwork had a net margin of 31.63% and a return on equity of 41.05%. The company had revenue of $201.73 million for the quarter, compared to the consensus estimate of $193.33 million. During the same period in the previous year, the business earned $0.30 EPS. Upwork’s revenue for the quarter was up 4.1% compared to the same quarter last year. Upwork has set its FY 2025 guidance at 1.350-1.370 EPS and its Q4 2025 guidance at 0.310-0.330 EPS. On average, equities analysts predict that Upwork will post 0.84 earnings per share for the current fiscal year.

Upwork announced that its board has approved a share repurchase program on Wednesday, September 3rd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 4.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Upwork

In other news, CEO Hayden Brown sold 275,000 shares of the business’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $19.43, for a total transaction of $5,343,250.00. Following the sale, the chief executive officer directly owned 697,894 shares of the company’s stock, valued at $13,560,080.42. The trade was a 28.27% 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. Also, CFO Erica Gessert sold 18,493 shares of the company’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $16.70, for a total value of $308,833.10. Following the completion of the transaction, the chief financial officer directly owned 237,612 shares in the company, valued at approximately $3,968,120.40. The trade was a 7.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 470,150 shares of company stock worth $8,935,779. 7.50% of the stock is owned by company insiders.

Institutional Trading of Upwork

Several large investors have recently added to or reduced their stakes in the company. Invesco Ltd. raised its stake in shares of Upwork by 50.5% in the first quarter. Invesco Ltd. now owns 2,630,379 shares of the company’s stock worth $34,326,000 after purchasing an additional 882,059 shares during the last quarter. Nuveen LLC acquired a new position in Upwork in the 1st quarter worth approximately $22,079,000. HighTower Advisors LLC acquired a new position in Upwork in the 1st quarter worth approximately $405,000. American Century Companies Inc. raised its position in Upwork by 108.7% during the 1st quarter. American Century Companies Inc. now owns 121,270 shares of the company’s stock worth $1,583,000 after buying an additional 63,167 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its stake in Upwork by 41.1% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,660,511 shares of the company’s stock valued at $60,820,000 after acquiring an additional 1,357,476 shares during the period. Hedge funds and other institutional investors own 77.71% of the company’s stock.

About Upwork

(Get Free Report)

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.

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