Upwork (NASDAQ:UPWK) Given New $18.00 Price Target at JMP Securities

Upwork (NASDAQ:UPWK) had its target price lifted by JMP Securities from $14.00 to $18.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has a market outperform rating on the stock.

A number of other equities research analysts have also recently issued reports on the company. Citigroup reduced their price objective on Upwork from $13.00 to $11.00 and set a “neutral” rating for the company in a report on Wednesday, September 25th. Roth Mkm upped their price objective on Upwork from $13.00 to $20.00 and gave the company a “buy” rating in a report on Thursday. UBS Group dropped their target price on Upwork from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Canaccord Genuity Group decreased their price target on shares of Upwork from $19.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Royal Bank of Canada dropped their price objective on shares of Upwork from $15.00 to $11.00 and set a “sector perform” rating for the company in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Upwork has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Upwork Stock Down 2.0 %

Shares of Upwork stock traded down $0.32 on Thursday, reaching $15.93. 4,337,924 shares of the company were exchanged, compared to its average volume of 2,174,740. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 25.79 and a beta of 1.49. The company has a current ratio of 3.00, a quick ratio of 3.00 and a debt-to-equity ratio of 0.99. Upwork has a one year low of $8.43 and a one year high of $17.79. The company has a 50-day moving average of $11.00 and a 200 day moving average of $10.96.

Upwork (NASDAQ:UPWK) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.03. Upwork had a return on equity of 23.59% and a net margin of 11.26%. The firm had revenue of $193.13 million for the quarter, compared to analyst estimates of $193.05 million. During the same quarter in the prior year, the company earned ($0.03) earnings per share. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. On average, equities research analysts forecast that Upwork will post 0.51 earnings per share for the current year.

Insider Buying and Selling

In other Upwork news, VP Dave Bottoms sold 5,818 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $9.81, for a total value of $57,074.58. Following the sale, the vice president now owns 5,818 shares in the company, valued at $57,074.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other Upwork news, CEO Hayden Brown sold 9,444 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $10.57, for a total transaction of $99,823.08. Following the sale, the chief executive officer now directly owns 1,178,850 shares of the company’s stock, valued at $12,460,444.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Dave Bottoms sold 5,818 shares of Upwork stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $9.81, for a total transaction of $57,074.58. Following the transaction, the vice president now owns 5,818 shares in the company, valued at approximately $57,074.58. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 176,783 shares of company stock worth $1,800,221 in the last three months. 7.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Upwork

A number of institutional investors have recently made changes to their positions in the stock. Plato Investment Management Ltd bought a new position in shares of Upwork during the second quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Upwork during the 2nd quarter worth approximately $29,000. Headlands Technologies LLC acquired a new position in shares of Upwork in the 1st quarter worth approximately $49,000. Quarry LP boosted its stake in shares of Upwork by 104.2% in the 2nd quarter. Quarry LP now owns 4,350 shares of the company’s stock valued at $47,000 after purchasing an additional 2,220 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of Upwork by 45.4% in the 3rd quarter. KBC Group NV now owns 4,791 shares of the company’s stock valued at $50,000 after purchasing an additional 1,497 shares during the last quarter. Institutional investors own 77.71% of the company’s stock.

Upwork Company Profile

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.