Upwork (NASDAQ:UPWK) Stock Keeps Sector Perform Rating at Royal Bank Of Canada

Upwork (NASDAQ:UPWK)‘s stock had its “sector perform” rating restated by research analysts at Royal Bank Of Canada in a research report issued on Tuesday, Benzinga reports. They presently have a $8.00 price target on the stock. Royal Bank Of Canada‘s price target would indicate a potential downside of 17.70% from the stock’s previous close.

A number of other analysts have also issued reports on the stock. Scotiabank reiterated a “sector perform” rating on shares of Upwork in a research note on Tuesday. Weiss Ratings restated a “sell (d+)” rating on shares of Upwork in a research note on Tuesday, October 27th. The Goldman Sachs Group set a $11.50 price target on shares of Upwork in a report on Tuesday, August 11th. Canaccord Genuity Group lowered their price target on shares of Upwork from $10.00 to $9.00 and set a “hold” rating for the company in a report on Wednesday, August 12th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of Upwork in a research note on Tuesday. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Upwork currently has a consensus rating of “Hold” and a consensus price target of $13.25.

Upwork Stock Performance

UPWK stock opened at $9.72 on Tuesday. Upwork has a 1 year low of $7.44 and a 1 year high of $22.84. The firm has a market cap of $1.21 billion, a P/E ratio of 12.62 and a beta of 1.06. The stock has a 50-day simple moving average of $8.66 and a 200-day simple moving average of $10.65.

Upwork (NASDAQ:UPWK) last announced its earnings results on Monday, November 2nd. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.31 by $0.09. The business had revenue of $185.60 million for the quarter, compared to the consensus estimate of $180.22 million. Upwork had a return on equity of 16.70% and a net margin of 12.94%.

Insiders Place Their Bets

In other news, CEO Hayden Brown sold 23,893 shares of the stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $8.45, for a total transaction of $201,895.85. Following the completion of the transaction, the chief executive officer directly owned 793,593 shares in the company, valued at approximately $6,705,860.85. This represents a 2.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 the stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $8.45, for a total value of $78,889.20. Following the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 178,868 shares of company stock worth $1,509,462 in the last three months. 4.90% of the stock is owned by insiders.

Institutional Trading of Upwork

Institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its stake in Upwork by 43.7% in the second quarter. GAMMA Investing LLC now owns 4,575 shares of the company’s stock worth $38,000 after purchasing an additional 1,392 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in Upwork by 434.4% during 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 in the last quarter. Covestor Ltd raised its stake in Upwork by 40.7% during the third quarter. Covestor Ltd now owns 5,356 shares of the company’s stock valued at $44,000 after buying an additional 1,550 shares in the last quarter. Cetera Investment Advisers raised its stake in Upwork by 10.9% during the first quarter. Cetera Investment Advisers now owns 18,504 shares of the company’s stock valued at $203,000 after buying an additional 1,826 shares in the last quarter. Finally, Illinois Municipal Retirement Fund lifted its holdings in Upwork by 4.1% during the 1st quarter. Illinois Municipal Retirement Fund now owns 72,163 shares of the company’s stock worth $791,000 after buying an additional 2,836 shares during the last quarter. 77.71% of the stock is owned by institutional investors and hedge funds.

More Upwork News

Here are the key news stories impacting Upwork this week:

• Positive Sentiment: Upwork reported third-quarter EPS of $0.40, exceeding the $0.31 analyst consensus, while revenue of $185.6 million topped expectations of $180.2 million. Upwork third-quarter earnings report
• Positive Sentiment: Full-year 2026 EPS guidance was raised or maintained at $1.45-$1.47, above the $1.40 consensus estimate. Full-year revenue guidance of $742 million-$750 million is broadly in line with expectations, supporting confidence in profitability. Upwork third-quarter financial results
• Positive Sentiment: Upwork launched the public beta of Upwork Now, designed to let clients hire experts within minutes. The company is also embedding its freelance marketplace into leading AI tools, potentially improving customer acquisition and demand for freelancers. Upwork Now launch
• Positive Sentiment: Lifted, Upwork’s enterprise-focused business, acquired WorkMotion, expanding its global employer-of-record capabilities. Business Plus revenue also reportedly grew 120% year over year in the third quarter, highlighting strength in higher-value offerings. Upwork acquires WorkMotion
• Negative Sentiment: Fourth-quarter EPS guidance of $0.30-$0.32 is below the $0.35 consensus estimate. Revenue guidance of $169 million-$177 million is centered near expectations but indicates a sequential decline from the third quarter. Upwork Q3 earnings call transcript
• Negative Sentiment: Some analysts remain concerned that declining revenue trends and structural changes from generative AI could undermine Upwork’s long-term relevance, despite the recent earnings rebound. Upwork long-term outlook analysis

About Upwork

Upwork Inc operates a global work marketplace that connects businesses with independent professionals and agencies. Clients use the platform to find, evaluate, hire and manage talent for projects across areas such as software development, design, marketing, writing, consulting, customer support and administrative services.

The company provides tools for talent discovery, project collaboration, communications, time tracking, contract management and payments. Its offerings serve both individual clients and larger organizations, with features designed to support recurring engagements, contingent-work programs and enterprise talent management.

Upwork was formed in 2015 through the merger of Elance and oDesk, two online freelance-work platforms, and began trading publicly on the Nasdaq stock exchange in 2018.