Upwork (NASDAQ:UPWK) Updates Q2 2026 Earnings Guidance

Upwork (NASDAQ:UPWK) issued an update on its second quarter 2026 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.350-0.370 for the period, compared to the consensus estimate of 0.330. The company issued revenue guidance of $187.0 million-$193.0 million, compared to the consensus revenue estimate of $204.0 million. Upwork also updated its FY 2026 guidance to 1.500-1.550 EPS.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Wall Street Zen upgraded Upwork from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Citigroup cut shares of Upwork from a “neutral” rating to a “market perform” rating in a research report on Friday. Roth Mkm lowered shares of Upwork from a “buy” rating to a “neutral” rating and set a $10.00 price objective for the company. in a report on Friday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Upwork in a research note on Wednesday, January 21st. Finally, Canaccord Genuity Group set a $10.00 target price on shares of Upwork and gave the company a “hold” rating in a report on Friday. Three analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $17.80.

Upwork Stock Up 5.3%

NASDAQ:UPWK opened at $10.61 on Friday. The company has a fifty day moving average of $11.51 and a 200 day moving average of $16.02. Upwork has a 52 week low of $10.02 and a 52 week high of $22.84. The firm has a market capitalization of $1.31 billion, a P/E ratio of 12.63 and a beta of 1.07.

Upwork declared that its Board of Directors has approved a stock repurchase plan on Wednesday, February 18th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to purchase up to 18% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Upwork

In related news, CEO Hayden Brown sold 23,745 shares of the firm’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $12.31, for a total value of $292,300.95. Following the sale, the chief executive officer directly owned 798,732 shares of the company’s stock, valued at $9,832,390.92. This trade represents a 2.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Erica Gessert sold 9,278 shares of the business’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $12.31, for a total value of $114,212.18. Following the transaction, the chief financial officer owned 307,240 shares in the company, valued at approximately $3,782,124.40. This represents a 2.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 235,186 shares of company stock worth $3,156,199. Company insiders own 7.50% of the company’s stock.

Key Upwork News

Here are the key news stories impacting Upwork this week:

• Positive Sentiment: Raised EPS/adjusted?EBITDA targets — Upwork updated FY?2026 EPS guidance to $1.50–$1.55 (above consensus) and raised adjusted EBITDA guidance for the year, signalling management sees margin or profitability upside despite revenue pressure. Upwork Reports First Quarter 2026 Financial Results
• Positive Sentiment: Q2 EPS guide above Street — Management guided Q2 EPS to $0.350–$0.370, higher than the consensus EPS estimate, which may reassure investors focused on per?share profitability. Upwork Reports First Quarter 2026 Financial Results
• Neutral Sentiment: Revenue growth was modest — Q1 revenue ran about $195.5M, roughly flat/only modestly higher (+~1.4% YoY), so the business is still growing but not accelerating. Upwork Inc. Stock Falls on Q1 2026 Earnings
• Neutral Sentiment: Client monetization indicators mixed — GSV per active client improved (management pointed to AI and SMB initiatives), which could support longer?term revenue per client if sustained. Upwork Reports First Quarter 2026 Financial Results
• Negative Sentiment: Top?line and EPS misses / mixed reported metrics — Some outlets report Q1 EPS and revenue missed consensus (examples: EPS reported as $0.24 vs. estimates ~ $0.25–$0.28 and revenue below ~$199–204M consensus), creating headline risk and selling pressure. Upwork (UPWK) Q1 Earnings and Revenues Miss Estimates
• Negative Sentiment: Weaker revenue guidance — Management set Q2 and FY revenue ranges that are well below Street estimates (Q2 guide ~$187–193M; FY guide $760–790M vs much higher consensus), which is the primary driver cited for the after?hours selloff. Upwork Stock Plunges On Q1 Earnings, Softer Revenue Outlook, Restructuring Plan
• Negative Sentiment: Profitability and cash?flow deterioration in the quarter — Operating profit and net income declined YoY and cash from operations dropped materially, increasing near?term execution risk. Upwork Inc. Stock Falls on Q1 2026 Earnings
• Negative Sentiment: Restructuring and insider selling headlines — Benzinga and Quiver highlighted a restructuring plan and extensive insider sales in recent months, which can amplify negative investor sentiment. Upwork Stock Plunges On Q1 Earnings, Softer Revenue Outlook, Restructuring Plan Upwork Inc. Stock Falls on Q1 2026 Earnings

Institutional Trading of Upwork

Large investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its holdings in Upwork by 44.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,231,377 shares of the company’s stock worth $381,166,000 after purchasing an additional 5,893,970 shares in the last quarter. Boston Partners boosted its stake in shares of Upwork by 785.7% during the 3rd quarter. Boston Partners now owns 2,322,575 shares of the company’s stock valued at $42,962,000 after purchasing an additional 2,060,356 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Upwork during the second quarter valued at about $11,955,000. Deutsche Bank AG raised its stake in Upwork by 654.5% in the fourth quarter. Deutsche Bank AG now owns 896,695 shares of the company’s stock worth $17,772,000 after buying an additional 777,850 shares in the last quarter. Finally, Wellington Management Group LLP bought a new position in Upwork in the third quarter worth about $11,866,000. Institutional investors own 77.71% of the company’s stock.

About Upwork

Upwork Inc operates a leading online talent marketplace that connects businesses with independent professionals worldwide. Through its digital platform, the company enables clients across industries—including technology, marketing, creative services and customer support—to source, hire and manage freelance talent on demand. Key features of the Upwork platform include streamlined job posting, proposal evaluation, time-tracking tools, invoicing and secure payment processing, all designed to simplify collaboration between clients and remote workers.

The company traces its roots to the merger of two pioneering freelance marketplaces, Elance (founded in 1998) and oDesk (founded in 2003), which combined in 2015 to form a unified entity.