Upwork (NASDAQ:UPWK) Stock Price Down 4.6% – Here’s Why

Upwork Inc. (NASDAQ:UPWK)’s share price dropped 4.6% on Friday . The stock traded as low as $8.72 and last traded at $8.7650. Approximately 496,937 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 3,745,136 shares. The stock had previously closed at $9.19.

Wall Street Analysts Forecast Growth

UPWK has been the topic of several research reports. Wall Street Zen downgraded Upwork from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Royal Bank Of Canada lowered their price objective on Upwork from $9.00 to $8.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 11th. The Goldman Sachs Group set a $11.50 price target on shares of Upwork in a research note on Tuesday, August 11th. Roth Capital cut shares of Upwork from a “buy” rating to a “neutral” rating and set a $10.00 price objective for the company. in a research note on Friday, May 8th. Finally, Needham & Company LLC reduced their price target on Upwork from $15.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $13.05.

Upwork Trading Down 3.6%

The firm has a 50-day moving average of $8.98 and a two-hundred day moving average of $9.96. The firm has a market capitalization of $1.11 billion, a P/E ratio of 11.50 and a beta of 1.01.

Upwork (NASDAQ:UPWK) last released its earnings results on Monday, August 10th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. The firm had revenue of $191.66 million for the quarter. Upwork had a return on equity of 16.70% and a net margin of 12.94%.The business’s revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.35 EPS. 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

In related news, CFO Erica Gessert sold 22,844 shares of Upwork stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $8.43, for a total transaction of $192,574.92. Following the sale, the chief financial officer directly owned 364,789 shares of the company’s stock, valued at approximately $3,075,171.27. The trade was a 5.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Hayden Brown sold 73,241 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $8.43, for a total transaction of $617,421.63. Following the transaction, the chief executive officer owned 771,076 shares of the company’s stock, valued at $6,500,170.68. This trade represents a 8.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 132,520 shares of company stock worth $1,108,000. 4.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Upwork

Institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC lifted its stake in shares of Upwork by 594.4% in the fourth quarter. Farther Finance Advisors LLC now owns 1,361 shares of the company’s stock worth $27,000 after acquiring an additional 1,165 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in Upwork by 434.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,881 shares of the company’s stock valued at $37,000 after buying an additional 1,529 shares during the period. International Assets Investment Management LLC bought a new position in shares of Upwork in the 4th quarter worth about $42,000. Strs Ohio acquired a new stake in Upwork during the fourth quarter worth approximately $50,000. Finally, Mcguire Capital Advisors Inc. bought a new stake in Upwork in the fourth quarter worth approximately $66,000. Institutional investors own 77.71% of the company’s stock.

Upwork Company Profile

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.