Upwork (NASDAQ:UPWK) Issues Quarterly Earnings Results


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Upwork (NASDAQ:UPWK) issued its quarterly earnings data on Tuesday. The company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.02), Fidelity Earnings reports. The company had revenue of $113.62 million for the quarter, compared to the consensus estimate of $107.21 million. Upwork had a negative return on equity of 10.95% and a negative net margin of 8.42%. The company’s revenue was up 36.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.03) earnings per share. Upwork updated its FY 2021 guidance to – EPS.

UPWK opened at $42.94 on Wednesday. Upwork has a 52-week low of $8.21 and a 52-week high of $63.88. The company has a market cap of $5.41 billion, a price-to-earnings ratio of -171.76 and a beta of 2.15. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.02. The firm’s fifty day simple moving average is $46.56 and its two-hundred day simple moving average is $40.35.

UPWK has been the topic of a number of analyst reports. MKM Partners upped their target price on Upwork from $52.00 to $69.00 in a research note on Wednesday, February 24th. Stifel Nicolaus upped their target price on Upwork from $40.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, February 24th. Jefferies Financial Group cut Upwork from a “buy” rating to a “hold” rating and set a $39.00 target price on the stock. in a research note on Monday, January 11th. Zacks Investment Research cut Upwork from a “buy” rating to a “hold” rating in a research note on Wednesday, April 28th. Finally, JMP Securities increased their price objective on Upwork from $28.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 24th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $60.67.

In other Upwork news, CEO Hayden Brown sold 260,000 shares of the business’s stock in a transaction on Thursday, March 4th. The shares were sold at an average price of $44.50, for a total value of $11,570,000.00. Following the completion of the transaction, the chief executive officer now owns 441,405 shares in the company, valued at $19,642,522.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Eric Gilpin sold 3,389 shares of the business’s stock in a transaction on Friday, February 19th. The stock was sold at an average price of $53.78, for a total transaction of $182,260.42. Following the completion of the transaction, the vice president now owns 10,422 shares of the company’s stock, valued at approximately $560,495.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 296,604 shares of company stock valued at $13,253,281. 25.30% of the stock is owned by company insiders.

Upwork Company Profile

Upwork Inc, together with its subsidiaries, operates an online talent marketplace that enables businesses to find and work with various independent professionals and agencies in the United States, India, the Philippines, and internationally. The company's platform provides access to talent with various skills across a range of categories, including sales and marketing, customer service, data science and analytics, design and creative, web, mobile, and software development.

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Earnings History for Upwork (NASDAQ:UPWK)

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