According to Zacks, “Upwork Inc. provides online recruitment services. The Company offers jobs in the categories such as website developers, virtual assistants, sales and marketing experts, accountants and consultants. Upwork Inc. is based in CA, United States. “
Other equities analysts have also issued research reports about the company. BTIG Research raised their target price on Duke Realty from $73.00 to $82.00 and gave the stock a buy rating in a research note on Thursday, April 11th. Cantor Fitzgerald began coverage on Upwork in a research report on Tuesday, June 18th. They set an overweight rating on the stock. Finally, Jefferies Financial Group raised Salvatore Ferragamo Italia from an underperform rating to a hold rating in a research report on Wednesday, June 26th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $22.83.
Upwork (NASDAQ:UPWK) last issued its earnings results on Wednesday, May 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.01. The firm had revenue of $68.92 million during the quarter, compared to analysts’ expectations of $69.15 million. Equities analysts predict that Upwork will post -0.2 earnings per share for the current year.
In other Upwork news, CEO Stephane Kasriel sold 280,000 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $16.35, for a total transaction of $4,578,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Han-Shen Yuan sold 100,000 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $15.87, for a total value of $1,587,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 607,451 shares of company stock worth $9,687,211 over the last ninety days. 40.81% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of UPWK. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Upwork in the 1st quarter valued at $8,493,000. First Trust Advisors LP purchased a new position in shares of Upwork in the 1st quarter valued at $1,712,000. Marshall Wace North America L.P. purchased a new position in shares of Upwork in the 1st quarter valued at $38,000. Marshall Wace LLP purchased a new position in shares of Upwork in the 1st quarter valued at $417,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Upwork in the 1st quarter valued at $485,000. Hedge funds and other institutional investors own 35.43% of the company’s stock.
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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