Upwork (UPWK) Scheduled to Post Quarterly Earnings on Wednesday

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Upwork (NASDAQ:UPWK) will announce its earnings results after the market closes on Wednesday, August 7th. Analysts expect the company to announce earnings of ($0.05) per share for the quarter.

Upwork (NASDAQ:UPWK) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.04) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The firm had revenue of $68.92 million for the quarter, compared to analysts’ expectations of $69.15 million. On average, analysts expect Upwork to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Shares of NASDAQ:UPWK opened at $15.70 on Tuesday. The stock’s 50 day moving average price is $16.12. The stock has a market cap of $1.70 billion and a price-to-earnings ratio of -41.32. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.74 and a quick ratio of 1.74. Upwork has a 12 month low of $14.08 and a 12 month high of $25.00.

Several equities research analysts have recently commented on UPWK shares. Cantor Fitzgerald started coverage on Upwork in a research note on Tuesday, June 18th. They set an “overweight” rating on the stock. Zacks Investment Research raised Upwork from a “sell” rating to a “hold” rating in a research note on Saturday, July 13th. Jefferies Financial Group raised Upwork from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research note on Wednesday, June 26th. Finally, BTIG Research initiated coverage on Upwork in a research note on Thursday, April 11th. They issued a “buy” rating and a $24.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Upwork presently has a consensus rating of “Buy” and an average price target of $22.83.

In other Upwork news, SVP Han-Shen Yuan sold 100,000 shares of the business’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $15.31, for a total value of $1,531,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephane Kasriel sold 120,000 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $15.59, for a total value of $1,870,800.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 607,451 shares of company stock worth $9,687,211. 40.81% of the stock is owned by corporate insiders.

Upwork Company Profile

Upwork Inc operates an online marketplace that enables businesses (clients) to find and work with various independent professionals and agencies (freelancers). The company's platform provides access to talent with approximately 5,000 skills across approximately 70 categories, including content marketing, customer service, data science and analytics, graphic design, mobile development, sales, and Web development.

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