Upwork (UPWK) Scheduled to Post Quarterly Earnings on Wednesday

Upwork (NASDAQ:UPWK) is set to announce its earnings results after the market closes on Wednesday, August 7th. Analysts expect the company to announce earnings of $0.23 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Upwork Price Performance

NASDAQ UPWK opened at $11.05 on Tuesday. The company has a current ratio of 2.93, a quick ratio of 2.93 and a debt-to-equity ratio of 1.02. Upwork has a 12 month low of $9.56 and a 12 month high of $16.36. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 31.57 and a beta of 1.57. The company’s 50 day moving average is $10.93 and its two-hundred day moving average is $12.04.

Insider Buying and Selling

In other news, CFO Erica Gessert sold 4,537 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $10.22, for a total value of $46,368.14. Following the completion of the sale, the chief financial officer now directly owns 90,166 shares of the company’s stock, valued at approximately $921,496.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Upwork news, CFO Erica Gessert sold 4,537 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $10.22, for a total transaction of $46,368.14. Following the transaction, the chief financial officer now owns 90,166 shares in the company, valued at $921,496.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Dave Bottoms sold 5,684 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $10.22, for a total transaction of $58,090.48. Following the completion of the sale, the vice president now owns 9,319 shares of the company’s stock, valued at approximately $95,240.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 192,496 shares of company stock worth $2,231,891. Corporate insiders own 7.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on UPWK shares. Needham & Company LLC restated a “buy” rating and set a $20.00 target price on shares of Upwork in a research note on Wednesday, May 15th. Roth Mkm reiterated a “buy” rating and set a $19.00 target price on shares of Upwork in a research report on Wednesday, May 15th. Royal Bank of Canada lowered their price target on Upwork from $18.00 to $15.00 and set a “sector perform” rating on the stock in a report on Thursday, May 2nd. BTIG Research raised shares of Upwork from a “neutral” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Thursday, May 2nd. Finally, UBS Group initiated coverage on shares of Upwork in a report on Tuesday, July 2nd. They issued a “neutral” rating and a $12.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.44.

Upwork Company Profile

Upwork Inc, together with its subsidiaries, operates a work marketplace that connects businesses with various independent professionals and agencies in the United States, India, the Philippines, and internationally. The company's work marketplace provides access to talent with various skills across a range of categories, including administrative support, sales and marketing, design and creative, and customer service, as well as web, mobile, and software development.