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

Shares of Upwork Inc. (NASDAQ:UPWK) have been assigned an average recommendation of “Hold” from the thirteen research firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $13.05.

A number of brokerages recently commented on UPWK. The Goldman Sachs Group set a $11.50 price target on Upwork in a report on Tuesday, August 11th. UBS Group dropped their price objective on Upwork from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Friday, August 14th. Scotiabank dropped their price objective on Upwork from $10.00 to $8.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 11th. Canaccord Genuity Group cut their target price on Upwork from $10.00 to $9.00 and set a “hold” rating on the stock in a research report on Wednesday, August 12th. Finally, Needham & Company LLC cut their target price on Upwork from $15.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th.

Insider Transactions at Upwork

In related news, CEO Hayden Brown sold 23,893 shares of Upwork stock in a transaction on Friday, September 18th. The shares were sold at an average price of $8.45, for a total value of $201,895.85. Following the completion of the sale, the chief executive officer owned 793,593 shares in the company, valued at approximately $6,705,860.85. The trade was a 2.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Erica Gessert sold 9,336 shares of Upwork stock in a transaction on 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 sale, the chief financial officer owned 373,586 shares of the company’s stock, valued at approximately $3,156,801.70. This trade represents a 2.44% decrease in their position. 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. Over the last quarter, insiders sold 178,867 shares of company stock valued at $1,509,806. 4.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Ancient Art L.P. lifted its position in shares of Upwork by 8.7% during the fourth quarter. Ancient Art L.P. now owns 4,640,814 shares of the company’s stock worth $91,981,000 after purchasing an additional 372,147 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Upwork by 26.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,715,616 shares of the company’s stock worth $40,720,000 after purchasing an additional 779,506 shares in the last quarter. Rice Hall James & Associates LLC bought a new stake in Upwork in the second quarter valued at about $23,214,000. Summit Partners Public Asset Management LLC bought a new stake in Upwork in the fourth quarter valued at about $40,136,000. Finally, Principal Financial Group Inc. increased its holdings in Upwork by 13.8% in the first quarter. Principal Financial Group Inc. now owns 1,097,681 shares of the company’s stock valued at $12,031,000 after buying an additional 133,078 shares during the last quarter. 77.71% of the stock is owned by institutional investors and hedge funds.

Upwork Stock Up 3.7%

UPWK opened at $8.74 on Tuesday. Upwork has a 52-week low of $7.44 and a 52-week high of $22.84. The company has a 50 day moving average of $8.58 and a two-hundred day moving average of $9.09. The company has a market cap of $1.09 billion, a P/E ratio of 11.35 and a beta of 1.06.

Upwork (NASDAQ:UPWK) last posted its earnings results on Monday, August 10th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.07. The business had revenue of $191.66 million for the quarter. Upwork had a net margin of 12.94% and a return on equity of 16.70%. The business’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $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.

Upwork Company Profile

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.