Upwork (NASDAQ:UPWK) Releases Quarterly Earnings Results, Beats Estimates By $0.79 EPS

Upwork (NASDAQ:UPWK) released its quarterly earnings data on Wednesday. The company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.79, Zacks reports. Upwork had a net margin of 11.26% and a return on equity of 22.84%. Upwork updated its FY 2025 guidance to 1.050-1.100 EPS and its Q1 2025 guidance to 0.240-0.260 EPS.

Upwork Stock Performance

Shares of UPWK traded down $0.36 during mid-day trading on Friday, hitting $16.20. The company’s stock had a trading volume of 738,950 shares, compared to its average volume of 2,458,813. The stock’s 50-day moving average is $16.38 and its two-hundred day moving average is $13.43. The firm has a market capitalization of $2.17 billion, a PE ratio of 25.78 and a beta of 1.57. The company has a debt-to-equity ratio of 0.87, a quick ratio of 3.18 and a current ratio of 3.18. Upwork has a one year low of $8.43 and a one year high of $18.14.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. BTIG Research lifted their price target on Upwork from $14.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Roth Mkm lowered their price target on Upwork from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday. Royal Bank of Canada lifted their price objective on shares of Upwork from $16.00 to $18.00 and gave the stock a “sector perform” rating in a research note on Thursday. Jefferies Financial Group lifted their target price on Upwork from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, JMP Securities reissued a “market outperform” rating and set a $18.00 target price on shares of Upwork in a research note on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.91.

Insider Buying and Selling

In related news, Director Elizabeth A. Nelson sold 75,000 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $17.37, for a total value of $1,302,750.00. Following the completion of the sale, the director now owns 48,915 shares in the company, valued at approximately $849,653.55. This trade represents a 60.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Hayden Brown sold 30,672 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $15.13, for a total value of $464,067.36. Following the transaction, the chief executive officer now owns 1,196,221 shares in the company, valued at $18,098,823.73. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 183,203 shares of company stock valued at $3,042,191. 7.60% of the stock is owned by company insiders.

Upwork Company Profile

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.