Upwork (UPWK) Expected to Announce Earnings on Wednesday

Upwork (NASDAQ:UPWK) is projected to issue its quarterly earnings data after the market closes on Wednesday, February 12th. Analysts expect the company to announce earnings of $0.24 per share and revenue of $180.38 million for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Upwork (NASDAQ:UPWK) last issued its earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.03. Upwork had a return on equity of 22.84% and a net margin of 11.26%. The firm had revenue of $193.78 million for the quarter, compared to analysts’ expectations of $185.55 million. During the same period in the previous year, the firm posted $0.12 earnings per share. The business’s revenue was up 10.3% compared to the same quarter last year. On average, analysts expect Upwork to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Upwork Trading Up 2.2 %

Shares of UPWK stock opened at $15.56 on Wednesday. The stock’s 50-day moving average price is $16.56 and its 200-day moving average price is $13.24. 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 stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 24.70 and a beta of 1.57.

Insider Activity

In related news, CAO Olivier Marie sold 9,153 shares of Upwork stock in a transaction on Friday, November 8th. The shares were sold at an average price of $15.92, for a total transaction of $145,715.76. Following the sale, the chief accounting officer now owns 1,294 shares of the company’s stock, valued at $20,600.48. The trade was a 87.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Dave Bottoms sold 10,508 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $15.86, for a total transaction of $166,656.88. The disclosure for this sale can be found here. Insiders have sold 213,847 shares of company stock worth $3,527,750 over the last ninety days. 7.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on UPWK shares. The Goldman Sachs Group boosted their price target on Upwork from $21.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Roth Mkm upped their price target on Upwork from $13.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. JMP Securities reaffirmed a “market outperform” rating and set a $18.00 price target on shares of Upwork in a research report on Thursday, January 30th. Citigroup upped their target price on Upwork from $11.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, November 29th. Finally, UBS Group upped their price target on shares of Upwork from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.09.

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.