Upwork (NASDAQ:UPWK) Rating Increased to Buy at Wall Street Zen

Upwork (NASDAQ:UPWK) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

UPWK has been the subject of a number of other reports. UBS Group reduced their price target on shares of Upwork from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Jefferies Financial Group lifted their price objective on Upwork from $22.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, January 5th. Scotiabank decreased their target price on Upwork from $17.00 to $15.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 10th. BTIG Research restated a “neutral” rating on shares of Upwork in a research report on Wednesday, November 19th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Upwork in a research note on Wednesday, January 21st. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Upwork currently has an average rating of “Moderate Buy” and a consensus price target of $22.60.

Upwork Stock Down 1.1%

Shares of UPWK opened at $13.17 on Friday. Upwork has a 52-week low of $11.13 and a 52-week high of $22.84. The company has a 50-day simple moving average of $19.03 and a 200-day simple moving average of $17.72. The company has a market capitalization of $1.72 billion, a PE ratio of 15.68 and a beta of 1.06.

Upwork declared that its board has authorized a stock repurchase program on Wednesday, February 18th that authorizes the company to buyback $300.00 million in shares. This buyback authorization authorizes the company to reacquire up to 18% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity

In related news, insider Dave Bottoms sold 15,649 shares of the business’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $13.51, for a total value of $211,417.99. Following the completion of the transaction, the insider owned 345 shares of the company’s stock, valued at approximately $4,660.95. The trade was a 97.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Hayden Brown sold 123,152 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $13.80, for a total transaction of $1,699,497.60. Following the completion of the transaction, the chief executive officer owned 776,067 shares in the company, valued at approximately $10,709,724.60. This trade represents a 13.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 585,204 shares of company stock worth $10,429,236 over the last three months. 7.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Upwork

A number of institutional investors have recently modified their holdings of the company. Financial Gravity Companies Inc. purchased a new stake in shares of Upwork in the second quarter valued at $5,118,000. Ruffer LLP purchased a new stake in Upwork in the 3rd quarter valued at about $2,716,000. Aviance Capital Partners LLC acquired a new position in shares of Upwork during the 2nd quarter valued at about $619,000. Campbell & CO Investment Adviser LLC lifted its holdings in shares of Upwork by 80.6% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 251,263 shares of the company’s stock worth $3,377,000 after acquiring an additional 112,133 shares during the period. Finally, Boston Partners boosted its position in shares of Upwork by 61.6% in the second quarter. Boston Partners now owns 262,219 shares of the company’s stock worth $3,524,000 after acquiring an additional 99,941 shares during the last quarter. Institutional investors and hedge funds own 77.71% of the company’s stock.

Key Upwork News

Here are the key news stories impacting Upwork this week:

• Positive Sentiment: Board authorizes a flexible $300 million buyback (authorizes repurchases of roughly 18% of shares), a meaningful capital‑return action that can reduce float and support EPS and investor sentiment. Globe and Mail: Buyback Announcement
• Positive Sentiment: Market reaction was initially positive — coverage notes shares rose on the buyback news, showing short‑term demand lift from the announcement. Investing.com: Market Reaction
• Neutral Sentiment: Analyst / institutional context is mixed: consensus is a modest “moderate buy” with an average target (~$22.60) well above the current price, and institutions own ~78% of the stock — the buyback may prompt revisions but not unanimous upgrades. MarketBeat: Analyst & Ownership Context
• Negative Sentiment: Significant insider selling this week: CEO Hayden Brown sold 123,152 shares (~$1.7M at ~$13.80); CFO Erica Gessert and other insiders (Dave Bottoms) also reduced positions — large insider disposals can be interpreted negatively by investors. SEC filings for the CEO sale are here and the InsiderTrades writeup for other insider sales is here. CEO SEC Filing InsiderTrades: Insider Sales
• Negative Sentiment: Technicals/liquidity are unfavorable near term: shares remain well below the 50‑day moving average and today’s volume is light versus average, increasing downside volatility risk despite the buyback. MarketBeat: Technicals

Upwork Company Profile

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.