UBS Group Raises Upwork (NASDAQ:UPWK) Price Target to $19.00

Upwork (NASDAQ:UPWK) had its price objective hoisted by research analysts at UBS Group from $18.00 to $19.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s target price points to a potential upside of 17.72% from the company’s current price.

Other analysts also recently issued reports about the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $18.00 target price on shares of Upwork in a research report on Thursday, January 30th. Jefferies Financial Group upped their target price on shares of Upwork from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. BTIG Research upped their target price on shares of Upwork from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Roth Mkm upped their target price on shares of Upwork from $13.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Citigroup upped their target price on shares of Upwork from $11.00 to $19.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $18.91.

Upwork Stock Down 2.5 %

Shares of NASDAQ UPWK opened at $16.14 on Thursday. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 0.87. Upwork has a 12 month low of $8.43 and a 12 month high of $18.14. The firm has a market capitalization of $2.16 billion, a PE ratio of 25.62 and a beta of 1.57. The firm has a fifty day simple moving average of $16.36 and a two-hundred day simple moving average of $13.46.

Upwork (NASDAQ:UPWK) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.24 by $0.79. Upwork had a net margin of 11.26% and a return on equity of 22.84%. Equities analysts expect that Upwork will post 0.65 earnings per share for the current year.

Insider Transactions at Upwork

In other news, VP Dave Bottoms sold 5,360 shares of Upwork stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $17.11, for a total value of $91,709.60. Following the completion of the sale, the vice president now directly owns 9,642 shares in the company, valued at $164,974.62. The trade was a 35.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Erica Gessert sold 4,279 shares of Upwork stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $17.11, for a total transaction of $73,213.69. Following the completion of the sale, the chief financial officer now owns 133,093 shares of the company’s stock, valued at $2,277,221.23. This represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 183,203 shares of company stock worth $3,042,191 over the last three months. 7.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Upwork

Institutional investors and hedge funds have recently made changes to their positions in the business. KBC Group NV boosted its holdings in shares of Upwork by 45.4% in the third quarter. KBC Group NV now owns 4,791 shares of the company’s stock worth $50,000 after buying an additional 1,497 shares during the last quarter. CWM LLC boosted its holdings in shares of Upwork by 71.9% in the third quarter. CWM LLC now owns 5,896 shares of the company’s stock worth $62,000 after buying an additional 2,467 shares during the last quarter. Quarry LP boosted its holdings in shares of Upwork by 42.6% in the third quarter. Quarry LP now owns 6,201 shares of the company’s stock worth $65,000 after buying an additional 1,851 shares during the last quarter. Nkcfo LLC purchased a new position in shares of Upwork in the fourth quarter worth approximately $82,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Upwork in the fourth quarter worth approximately $84,000. Hedge funds and other institutional investors own 77.71% of the company’s stock.

About Upwork

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.