Upwork Inc. (NASDAQ:UPWK) Stock Has Average Price Target of $13.05

Shares of Upwork Inc. (NASDAQ:UPWK) have been given a consensus recommendation of “Hold” by the thirteen research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $13.05.

A number of research firms have recently commented on UPWK. Royal Bank Of Canada reduced their price objective on shares of Upwork from $9.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 11th. Needham & Company LLC reduced their price objective on Upwork from $15.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. UBS Group decreased their target price on shares of Upwork from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Friday, August 14th. Scotiabank decreased their price target on Upwork from $10.00 to $8.00 and set a “sector perform” rating for the company in a report on Tuesday, August 11th. Finally, Canaccord Genuity Group decreased their price objective on shares of Upwork from $10.00 to $9.00 and set a “hold” rating for the company in a research note on Wednesday, August 12th.

Upwork Price Performance

NASDAQ:UPWK opened at $8.43 on Tuesday. The company has a market cap of $1.05 billion, a P/E ratio of 10.95 and a beta of 1.06. Upwork has a one year low of $7.44 and a one year high of $22.84. The firm’s fifty day moving average price is $8.55 and its two-hundred day moving average price is $9.09.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.07. Upwork had a net margin of 12.94% and a return on equity of 16.70%. The business had revenue of $191.66 million during the quarter. During the same quarter last year, the firm earned $0.35 EPS. Upwork’s revenue for the quarter was down 1.7% compared to the same quarter last year. Upwork has set its FY 2026 guidance at 1.380-1.430 EPS and its Q3 2026 guidance at 0.310-0.330 EPS.

Insider Buying and Selling at Upwork

In other Upwork news, CFO Erica Gessert sold 9,336 shares of Upwork stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $8.45, for a total transaction of $78,889.20. Following the completion of the transaction, the chief financial officer owned 373,586 shares of the company’s stock, valued at $3,156,801.70. The trade was a 2.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Hayden Brown sold 23,893 shares of the business’s stock in a transaction on Friday, September 18th. The shares were sold at an average price of $8.45, for a total transaction of $201,895.85. Following the transaction, the chief executive officer owned 793,593 shares of the company’s stock, valued at $6,705,860.85. This trade represents a 2.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 178,309 shares of company stock valued at $1,504,750 over the last three months. 4.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Rockefeller Capital Management L.P. increased its stake in Upwork by 434.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,881 shares of the company’s stock worth $37,000 after purchasing an additional 1,529 shares during the period. GAMMA Investing LLC lifted its stake in shares of Upwork by 43.7% in the 2nd quarter. GAMMA Investing LLC now owns 4,575 shares of the company’s stock valued at $38,000 after purchasing an additional 1,392 shares during the period. IFP Advisors Inc boosted its holdings in shares of Upwork by 123.0% during the 3rd quarter. IFP Advisors Inc now owns 8,944 shares of the company’s stock valued at $73,000 after buying an additional 4,933 shares in the last quarter. Ground Swell Capital LLC purchased a new stake in Upwork in the first quarter worth about $116,000. Finally, Summit Global Investments purchased a new stake in shares of Upwork in the 2nd quarter worth approximately $89,000. 77.71% of the stock is currently owned by institutional investors.

About Upwork

Upwork Inc (NASDAQ: UPWK) operates a global online marketplace that connects businesses with independent professionals and agencies. Clients use the platform to find, hire and collaborate with talent across areas such as software development, design and creative services, marketing, writing, customer support, finance and consulting.

The company provides tools for talent discovery, project management, communication, time tracking, contracting and payments. Its offerings include marketplace-based hiring, packaged services through Project Catalog and solutions designed for larger organizations through Upwork Enterprise.