Upwork (NASDAQ:UPWK) Given New $19.00 Price Target at Roth Mkm

Upwork (NASDAQ:UPWK) had its price objective trimmed by Roth Mkm from $20.00 to $19.00 in a report published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also issued reports on the stock. UBS Group increased their price objective on shares of Upwork from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday. Piper Sandler reaffirmed an “overweight” rating and set a $18.00 target price (up from $13.00) on shares of Upwork in a research note on Thursday, November 7th. Canaccord Genuity Group boosted their price target on shares of Upwork from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. BTIG Research increased their price objective on shares of Upwork from $14.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $18.00 target price on shares of Upwork in a report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $18.91.

Upwork Stock Up 6.6 %

UPWK opened at $16.56 on Thursday. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 26.29 and a beta of 1.57. The company has a debt-to-equity ratio of 0.87, a quick ratio of 3.18 and a current ratio of 3.18. The firm’s fifty day moving average is $16.38 and its 200 day moving average is $13.43. Upwork has a fifty-two week low of $8.43 and a fifty-two week high of $18.14.

Upwork (NASDAQ:UPWK) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.24 by $0.79. Upwork had a return on equity of 22.84% and a net margin of 11.26%. On average, sell-side analysts forecast that Upwork will post 0.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Upwork

In other news, CFO Erica Gessert sold 4,279 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $17.11, for a total value of $73,213.69. Following the sale, the chief financial officer now owns 133,093 shares of the company’s stock, valued at approximately $2,277,221.23. This represents a 3.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Hayden Brown sold 8,997 shares of Upwork stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $17.12, for a total transaction of $154,028.64. Following the transaction, the chief executive officer now directly owns 1,238,156 shares of the company’s stock, valued at approximately $21,197,230.72. This represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 183,203 shares of company stock worth $3,042,191 over the last ninety days. Company insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On Upwork

Several hedge funds and other institutional investors have recently modified their holdings of the business. KBC Group NV grew its position in 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 acquiring an additional 1,497 shares during the last quarter. CWM LLC boosted its stake in shares of Upwork by 71.9% during the third quarter. CWM LLC now owns 5,896 shares of the company’s stock valued at $62,000 after purchasing an additional 2,467 shares during the period. Quarry LP grew its holdings in shares of Upwork by 42.6% in the third quarter. Quarry LP now owns 6,201 shares of the company’s stock worth $65,000 after purchasing an additional 1,851 shares during the last quarter. Nkcfo LLC purchased a new position in Upwork in the 4th quarter worth about $82,000. Finally, SBI Securities Co. Ltd. bought a new stake in Upwork during the 4th quarter valued at about $84,000. 77.71% of the stock is currently owned by hedge funds and other institutional investors.

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.