Brokerages Expect Upwork Inc. (NASDAQ:UPWK) to Announce -$0.10 Earnings Per Share

Equities analysts expect Upwork Inc. (NASDAQ:UPWKGet Rating) to post ($0.10) earnings per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Upwork’s earnings, with the lowest EPS estimate coming in at ($0.10) and the highest estimate coming in at ($0.09). Upwork posted earnings of ($0.13) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 23.1%. The business is expected to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Upwork will report full-year earnings of ($0.17) per share for the current year, with EPS estimates ranging from ($0.18) to ($0.16). For the next year, analysts expect that the firm will post earnings of $0.24 per share, with EPS estimates ranging from $0.09 to $0.42. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Upwork.

Upwork (NASDAQ:UPWKGet Rating) last released its earnings results on Wednesday, April 27th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.10. The firm had revenue of $141.34 million for the quarter, compared to analyst estimates of $133.70 million. Upwork had a negative return on equity of 27.03% and a negative net margin of 13.79%. During the same quarter last year, the firm posted ($0.06) EPS.

Several analysts have recently weighed in on UPWK shares. BTIG Research decreased their price objective on Upwork from $44.00 to $34.00 and set a “buy” rating on the stock in a report on Monday, April 18th. Canaccord Genuity Group decreased their price objective on Upwork from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, March 18th. JMP Securities decreased their price objective on Upwork from $55.00 to $48.00 and set an “outperform” rating on the stock in a report on Friday, February 11th. Stifel Nicolaus lowered Upwork from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $30.00 to $20.00 in a report on Monday, May 16th. Finally, The Goldman Sachs Group decreased their price target on Upwork from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Friday, February 11th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Upwork presently has an average rating of “Buy” and an average price target of $41.67.

In other news, CEO Hayden Brown sold 1,405 shares of the business’s stock in a transaction on Monday, April 18th. The stock was sold at an average price of $20.02, for a total transaction of $28,128.10. Following the completion of the sale, the chief executive officer now owns 798,100 shares in the company, valued at $15,977,962. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kevin Harvey bought 65,828 shares of the company’s stock in a transaction dated Thursday, May 12th. The shares were purchased at an average price of $16.32 per share, with a total value of $1,074,312.96. Following the transaction, the director now owns 813,992 shares of the company’s stock, valued at $13,284,349.44. The disclosure for this purchase can be found here. In the last quarter, insiders sold 48,021 shares of company stock valued at $961,135. Corporate insiders own 25.30% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of Upwork by 6.8% during the third quarter. BlackRock Inc. now owns 8,009,219 shares of the company’s stock worth $360,654,000 after purchasing an additional 509,479 shares during the period. Baillie Gifford & Co. grew its stake in shares of Upwork by 2.0% during the first quarter. Baillie Gifford & Co. now owns 6,433,548 shares of the company’s stock worth $149,516,000 after purchasing an additional 126,945 shares during the period. Greenoaks Capital Partners LLC grew its stake in shares of Upwork by 265.1% during the first quarter. Greenoaks Capital Partners LLC now owns 3,212,761 shares of the company’s stock worth $74,665,000 after purchasing an additional 2,332,761 shares during the period. Hawk Ridge Capital Management LP acquired a new stake in shares of Upwork during the first quarter worth $61,144,000. Finally, State Street Corp grew its stake in shares of Upwork by 1.9% during the first quarter. State Street Corp now owns 2,350,936 shares of the company’s stock worth $54,636,000 after purchasing an additional 44,681 shares during the period. Institutional investors own 73.43% of the company’s stock.

Shares of NASDAQ:UPWK traded up $0.26 during trading on Friday, hitting $18.33. 1,730,955 shares of the stock were exchanged, compared to its average volume of 1,818,018. Upwork has a 1-year low of $14.85 and a 1-year high of $64.49. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of -32.16 and a beta of 1.84. The company’s fifty day simple moving average is $20.82 and its 200-day simple moving average is $27.73. The company has a debt-to-equity ratio of 2.25, a quick ratio of 3.61 and a current ratio of 3.61.

Upwork Company Profile (Get Rating)

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 sales and marketing, customer service, data science and analytics, design and creative, web, mobile, and software development.

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