Upwork (NASDAQ:UPWK) Updates FY 2026 Earnings Guidance

Upwork (NASDAQ:UPWK) updated its FY 2026 earnings guidance on Thursday. The company provided earnings per share guidance of 1.500-1.550 for the period, compared to the consensus earnings per share estimate of 1.430. The company issued revenue guidance of $760.0 million-$790.0 million, compared to the consensus revenue estimate of $841.4 million. Upwork also updated its Q2 2026 guidance to 0.350-0.370 EPS.

Analyst Ratings Changes

UPWK has been the subject of several analyst reports. Needham & Company LLC decreased their target price on Upwork from $25.00 to $15.00 and set a “buy” rating for the company in a research report on Friday. Roth Mkm boosted their target price on Upwork from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Royal Bank Of Canada decreased their price objective on Upwork from $24.00 to $20.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 10th. Citigroup downgraded shares of Upwork from a “neutral” rating to a “market perform” rating in a report on Friday. Finally, Zacks Research cut Upwork from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Six research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $19.10.

Upwork Stock Performance

Shares of UPWK stock opened at $10.61 on Friday. The company has a market cap of $1.31 billion, a P/E ratio of 12.63 and a beta of 1.07. The stock has a 50 day simple moving average of $11.51 and a two-hundred day simple moving average of $16.02. Upwork has a fifty-two week low of $10.02 and a fifty-two week high of $22.84.

Upwork announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 18th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to reacquire up to 18% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, CFO Erica Gessert sold 9,278 shares of the company’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $12.31, for a total transaction of $114,212.18. Following the completion of the sale, the chief financial officer owned 307,240 shares in the company, valued at approximately $3,782,124.40. This represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Dave Bottoms sold 7,000 shares of the company’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $11.49, for a total value of $80,430.00. Following the sale, the insider owned 2,678 shares of the company’s stock, valued at $30,770.22. This trade represents a 72.33% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 235,186 shares of company stock worth $3,156,199. 7.50% of the stock is owned by corporate insiders.

Upwork News Summary

Here are the key news stories impacting Upwork this week:

• Positive Sentiment: Raised EPS/adjusted?EBITDA targets — Upwork updated FY?2026 EPS guidance to $1.50–$1.55 (above consensus) and raised adjusted EBITDA guidance for the year, signalling management sees margin or profitability upside despite revenue pressure. Upwork Reports First Quarter 2026 Financial Results
• Positive Sentiment: Q2 EPS guide above Street — Management guided Q2 EPS to $0.350–$0.370, higher than the consensus EPS estimate, which may reassure investors focused on per?share profitability. Upwork Reports First Quarter 2026 Financial Results
• Neutral Sentiment: Revenue growth was modest — Q1 revenue ran about $195.5M, roughly flat/only modestly higher (+~1.4% YoY), so the business is still growing but not accelerating. Upwork Inc. Stock Falls on Q1 2026 Earnings
• Neutral Sentiment: Client monetization indicators mixed — GSV per active client improved (management pointed to AI and SMB initiatives), which could support longer?term revenue per client if sustained. Upwork Reports First Quarter 2026 Financial Results
• Negative Sentiment: Top?line and EPS misses / mixed reported metrics — Some outlets report Q1 EPS and revenue missed consensus (examples: EPS reported as $0.24 vs. estimates ~ $0.25–$0.28 and revenue below ~$199–204M consensus), creating headline risk and selling pressure. Upwork (UPWK) Q1 Earnings and Revenues Miss Estimates
• Negative Sentiment: Weaker revenue guidance — Management set Q2 and FY revenue ranges that are well below Street estimates (Q2 guide ~$187–193M; FY guide $760–790M vs much higher consensus), which is the primary driver cited for the after?hours selloff. Upwork Stock Plunges On Q1 Earnings, Softer Revenue Outlook, Restructuring Plan
• Negative Sentiment: Profitability and cash?flow deterioration in the quarter — Operating profit and net income declined YoY and cash from operations dropped materially, increasing near?term execution risk. Upwork Inc. Stock Falls on Q1 2026 Earnings
• Negative Sentiment: Restructuring and insider selling headlines — Benzinga and Quiver highlighted a restructuring plan and extensive insider sales in recent months, which can amplify negative investor sentiment. Upwork Stock Plunges On Q1 Earnings, Softer Revenue Outlook, Restructuring Plan Upwork Inc. Stock Falls on Q1 2026 Earnings

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. grew its stake in Upwork by 4.0% in the 3rd quarter. Raymond James Financial Inc. now owns 24,004 shares of the company’s stock valued at $446,000 after purchasing an additional 928 shares during the period. Lazard Asset Management LLC grew its stake in Upwork by 3.0% in the 3rd quarter. Lazard Asset Management LLC now owns 45,381 shares of the company’s stock valued at $843,000 after purchasing an additional 1,303 shares during the period. California State Teachers Retirement System grew its stake in Upwork by 1.3% in the 2nd quarter. California State Teachers Retirement System now owns 115,859 shares of the company’s stock valued at $1,557,000 after purchasing an additional 1,523 shares during the period. Parkside Financial Bank & Trust grew its stake in Upwork by 37.2% in the 4th quarter. Parkside Financial Bank & Trust now owns 5,629 shares of the company’s stock valued at $112,000 after purchasing an additional 1,527 shares during the period. Finally, Jump Financial LLC grew its stake in Upwork by 4.2% in the 4th quarter. Jump Financial LLC now owns 40,400 shares of the company’s stock valued at $801,000 after purchasing an additional 1,627 shares during the period. Institutional investors own 77.71% of the company’s stock.

About Upwork

Upwork Inc operates a leading online talent marketplace that connects businesses with independent professionals worldwide. Through its digital platform, the company enables clients across industries—including technology, marketing, creative services and customer support—to source, hire and manage freelance talent on demand. Key features of the Upwork platform include streamlined job posting, proposal evaluation, time-tracking tools, invoicing and secure payment processing, all designed to simplify collaboration between clients and remote workers.

The company traces its roots to the merger of two pioneering freelance marketplaces, Elance (founded in 1998) and oDesk (founded in 2003), which combined in 2015 to form a unified entity.