Upwork (NASDAQ:UPWK) had its target price cut by Royal Bank of Canada to $20.00 in a research report report published on Thursday, The Fly reports. They currently have an outperform rating on the stock.
A number of other research analysts have also weighed in on the company. First Analysis initiated coverage on Upwork in a report on Thursday, October 31st. They set an outperform rating and a $18.00 price objective on the stock. Citigroup dropped 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. Zacks Investment Research lowered Upwork from a buy rating to a hold rating in a report on Friday, October 11th. Finally, ValuEngine raised Upwork from a hold rating to a buy rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Upwork has a consensus rating of Buy and an average price target of $20.67.
UPWK stock traded down $0.09 during trading on Thursday, hitting $12.77. 3,615,000 shares of the company’s stock were exchanged, compared to its average volume of 911,771. Upwork has a 52-week low of $11.81 and a 52-week high of $25.00. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average price of $14.20 and a two-hundred day moving average price of $15.52. The stock has a market capitalization of $1.70 billion and a price-to-earnings ratio of -33.61.
In other Upwork news, SVP Han-Shen Yuan sold 100,000 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $15.00, for a total value of $1,500,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Stephane Kasriel sold 120,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 245,932 shares in the company, valued at approximately $3,588,147.88. The disclosure for this sale can be found here. Insiders have sold 631,759 shares of company stock worth $9,275,922 in the last ninety days. 40.81% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the business. Marshall Wace North America L.P. acquired a new stake in Upwork in the first quarter valued at $38,000. Point72 Hong Kong Ltd acquired a new stake in Upwork in the second quarter valued at $44,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Upwork in the second quarter valued at $63,000. Royal Bank of Canada grew its holdings in Upwork by 349.8% in 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. Finally, Ladenburg Thalmann Financial Services Inc. grew its holdings in Upwork by 22.9% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,674 shares of the company’s stock valued at $107,000 after purchasing an additional 1,245 shares during the last quarter. 44.33% of the stock is currently owned by institutional investors.
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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