Upwork (UPWK) Scheduled to Post Quarterly Earnings on Wednesday

Upwork (NASDAQ:UPWK) will be issuing its quarterly earnings data after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of $0.23 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Upwork (NASDAQ:UPWK) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. Upwork had a net margin of 10.00% and a return on equity of 20.75%. The firm had revenue of $193.13 million for the quarter, compared to analysts’ expectations of $193.05 million. During the same quarter in the prior year, the company posted ($0.03) earnings per share. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. 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 7.8 %

NASDAQ:UPWK opened at $13.55 on Wednesday. The company’s 50 day moving average price is $10.35 and its 200-day moving average price is $10.80. Upwork has a 52 week low of $8.43 and a 52 week high of $16.36. The company has a quick ratio of 3.00, a current ratio of 3.00 and a debt-to-equity ratio of 0.99. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 24.64 and a beta of 1.54.

Wall Street Analyst Weigh In

UPWK has been the topic of a number of recent analyst reports. Citigroup cut their price target on shares of Upwork from $13.00 to $11.00 and set a “neutral” rating on the stock in a report on Wednesday, September 25th. Roth Mkm lowered their price objective on shares of Upwork from $19.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. UBS Group lowered their price objective on shares of Upwork from $12.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Piper Sandler lowered their price objective on shares of Upwork from $20.00 to $13.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Finally, The Goldman Sachs Group lowered their price objective on shares of Upwork from $24.00 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $15.27.

Insiders Place Their Bets

In other Upwork news, CEO Hayden Brown sold 9,444 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $10.57, for a total value of $99,823.08. Following the transaction, the chief executive officer now directly owns 1,178,850 shares in the company, valued at approximately $12,460,444.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Hayden Brown sold 9,444 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $10.57, for a total transaction of $99,823.08. Following the sale, the chief executive officer now directly owns 1,178,850 shares in the company, valued at $12,460,444.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Erica Gessert sold 20,353 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $9.65, for a total transaction of $196,406.45. Following the sale, the chief financial officer now owns 107,313 shares in the company, valued at $1,035,570.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 176,783 shares of company stock worth $1,800,221. Company insiders own 7.60% 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.