Zacks: Analysts Expect Upwork Inc (NASDAQ:UPWK) Will Announce Earnings of -$0.06 Per Share

Equities analysts predict that Upwork Inc (NASDAQ:UPWK) will report earnings per share (EPS) of ($0.06) for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Upwork’s earnings. Upwork reported earnings per share of $0.03 during the same quarter last year, which indicates a negative year over year growth rate of 300%. The company is scheduled to announce its next earnings report on Thursday, February 27th.

According to Zacks, analysts expect that Upwork will report full-year earnings of ($0.15) per share for the current financial year. For the next fiscal year, analysts anticipate that the firm will post earnings of ($0.15) per share. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Upwork.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.03) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.02. Upwork had a negative return on equity of 5.93% and a negative net margin of 5.17%. The firm had revenue of $78.80 million during the quarter, compared to analyst estimates of $77.75 million. During the same period last year, the company earned ($0.04) earnings per share. The business’s revenue for the quarter was up 22.9% on a year-over-year basis.

UPWK has been the topic of several analyst reports. First Analysis initiated coverage on Upwork in a report on Thursday, October 31st. They issued an “outperform” rating and a $18.00 price objective on the stock. Stifel Nicolaus decreased their price objective on Upwork from $19.00 to $16.00 and set a “hold” rating on the stock in a report on Thursday, November 7th. Royal Bank of Canada decreased their price objective on Upwork to $20.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. ValuEngine upgraded Upwork from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, Citigroup decreased their price objective on Upwork from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $20.67.

In other Upwork news, SVP Han-Shen Yuan sold 61,175 shares of Upwork stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $14.21, for a total transaction of $869,296.75. Also, CEO Stephane Kasriel sold 120,000 shares of Upwork stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $14.61, for a total value of $1,753,200.00. Insiders sold 332,597 shares of company stock worth $4,846,459 over the last three months. 40.81% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Wells Fargo & Company MN boosted its position in Upwork by 4.6% during the 2nd quarter. Wells Fargo & Company MN now owns 27,193 shares of the company’s stock valued at $437,000 after acquiring an additional 1,203 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in Upwork by 22.9% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,674 shares of the company’s stock valued at $107,000 after acquiring an additional 1,245 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in Upwork during the 1st quarter valued at approximately $38,000. Point72 Hong Kong Ltd bought a new stake in Upwork during the 2nd quarter valued at approximately $44,000. Finally, Royal Bank of Canada lifted its holdings in shares of Upwork by 349.8% during the second quarter. Royal Bank of Canada now owns 4,071 shares of the company’s stock valued at $65,000 after purchasing an additional 3,166 shares during the last quarter. 44.76% of the stock is currently owned by institutional investors and hedge funds.

Shares of Upwork stock traded up $0.12 during trading hours on Tuesday, reaching $11.97. The company had a trading volume of 787,200 shares, compared to its average volume of 1,211,111. The firm has a market cap of $1.33 billion and a PE ratio of -31.50. The business has a fifty day simple moving average of $13.92 and a 200 day simple moving average of $15.21. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.92 and a quick ratio of 1.92. Upwork has a one year low of $11.61 and a one year high of $25.00.

Upwork Company Profile

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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