Stifel Nicolaus Lowers Upwork (NASDAQ:UPWK) Price Target to $16.00

Upwork (NASDAQ:UPWK) had its price objective dropped by investment analysts at Stifel Nicolaus from $19.00 to $16.00 in a research report issued on Thursday, Stock Target Advisor reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 24.42% from the company’s current price.

UPWK has been the subject of a number of other research reports. Royal Bank of Canada cut their price target on shares of Upwork to $20.00 and set an “outperform” rating for the company in a report on Thursday. First Analysis initiated coverage on shares of Upwork in a report on Thursday, October 31st. They set an “outperform” rating and a $18.00 price target for the company. Zacks Investment Research downgraded shares of Upwork from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Citigroup dropped their price objective on shares of Upwork from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Finally, ValuEngine raised shares of Upwork from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Upwork has an average rating of “Buy” and a consensus target price of $20.67.

UPWK traded down $2.21 on Thursday, reaching $12.86. The company had a trading volume of 5,345,200 shares, compared to its average volume of 811,636. The company’s fifty day moving average is $14.23 and its 200 day moving average is $15.55. Upwork has a fifty-two week low of $11.81 and a fifty-two week high of $25.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.77 and a current ratio of 1.77. The stock has a market cap of $1.70 billion and a P/E ratio of -33.84.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.03) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.02. Upwork had a negative net margin of 7.09% and a negative return on equity of 7.62%. The company had revenue of $78.80 million during the quarter, compared to the consensus estimate of $77.75 million. During the same quarter in the prior year, the firm posted ($0.04) EPS. The firm’s quarterly revenue was up 22.9% on a year-over-year basis. On average, sell-side analysts expect that Upwork will post -0.15 EPS for the current year.

In other Upwork news, CEO Stephane Kasriel sold 120,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $14.59, for a total value of $1,750,800.00. Following the completion of the transaction, the chief executive officer now directly owns 245,932 shares in the company, valued at approximately $3,588,147.88. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Han-Shen Yuan sold 61,175 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $14.21, for a total transaction of $869,296.75. In the last three months, insiders sold 631,759 shares of company stock valued at $9,275,922. 40.81% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in UPWK. Marshall Wace North America L.P. acquired a new position in Upwork in the 1st quarter valued at approximately $38,000. First Trust Advisors LP acquired a new position in Upwork in the 1st quarter valued at approximately $1,712,000. Amundi Pioneer Asset Management Inc. acquired a new position in Upwork in the 1st quarter valued at approximately $8,493,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Upwork in the 2nd quarter valued at approximately $63,000. Finally, BNP Paribas Arbitrage SA acquired a new position in Upwork in the 2nd quarter valued at approximately $1,492,000. Hedge funds and other institutional investors own 44.33% of the company’s stock.

About Upwork

Upwork Inc operates an online marketplace that enables businesses (clients) to find and work with various independent professionals and agencies (freelancers). The company's platform provides access to talent with approximately 5,000 skills across approximately 70 categories, including content marketing, customer service, data science and analytics, graphic design, mobile development, sales, and Web development.

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