Upwork (NASDAQ:UPWK – Get Free Report) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.24-0.26 for the period, compared to the consensus estimate of $0.22. The company issued revenue guidance of $178-183 million, compared to the consensus revenue estimate of $175.70 million. Upwork also updated its FY 2024 guidance to 1.000-1.020 EPS.
Analysts Set New Price Targets
Several research firms have recently weighed in on UPWK. Citigroup lowered their price objective on Upwork from $13.00 to $11.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 25th. Canaccord Genuity Group boosted their target price on Upwork from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday. The Goldman Sachs Group boosted their target price on shares of Upwork from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday. Royal Bank of Canada decreased their price target on Upwork from $15.00 to $11.00 and set a “sector perform” rating on the stock in a report on Thursday, August 8th. Finally, Roth Mkm upped their target price on shares of Upwork from $13.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Upwork has a consensus rating of “Moderate Buy” and an average target price of $17.00.
Read Our Latest Analysis on Upwork
Upwork Trading Down 2.0 %
Upwork (NASDAQ:UPWK – Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $193.13 million during the quarter, compared to the consensus estimate of $193.05 million. Upwork had a net margin of 11.26% and a return on equity of 23.59%. Upwork’s revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.03) EPS. Research analysts predict that Upwork will post 0.51 earnings per share for the current year.
Insider Transactions at Upwork
In other news, CFO Erica Gessert sold 4,491 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $10.57, for a total transaction of $47,469.87. Following the completion of the transaction, the chief financial officer now owns 111,255 shares in the company, valued at approximately $1,175,965.35. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Erica Gessert sold 4,491 shares of the company’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 value of $47,469.87. Following the transaction, the chief financial officer now directly owns 111,255 shares in the company, valued at approximately $1,175,965.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Dave Bottoms sold 5,626 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $10.57, for a total value of $59,466.82. Following the completion of the sale, the vice president now directly owns 15,196 shares of the company’s stock, valued at approximately $160,621.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 176,783 shares of company stock worth $1,800,221 in the last ninety days. Company insiders own 7.60% of the company’s stock.
About Upwork
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.
Further Reading
- Five stocks we like better than Upwork
- CD Calculator: Certificate of Deposit Calculator
- Dot Ai IPO: CEO Ed Nabrotzky Shares Vision for Logistics Future
- Dividend Screener: How to Evaluate Dividend Stocks Before Buying
- The Hottest Markets to Watch After the Fed’s 25 Bps Rate Cut
- P/E Ratio Calculation: How to Assess Stocks
- The Top 5 Performing S&P 500 Stocks YTD in 2024
Receive News & Ratings for Upwork Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Upwork and related companies with MarketBeat.com's FREE daily email newsletter.