Shares of Upwork Inc (NASDAQ:UPWK) reached a new 52-week low on Thursday . The stock traded as low as $15.84 and last traded at $18.66, with a volume of 1855477 shares traded. The stock had previously closed at $20.29.
Several analysts recently weighed in on the company. Jefferies Financial Group upped their price target on Upwork from $20.00 to $21.00 and gave the stock a “hold” rating in a research note on Thursday. Citigroup initiated coverage on Upwork in a research note on Monday, October 29th. They set a “buy” rating and a $23.00 target price on the stock. Royal Bank of Canada initiated coverage on Upwork in a research note on Monday, October 29th. They set an “outperform” rating and a $24.00 target price on the stock. Stifel Nicolaus initiated coverage on Upwork in a research note on Monday, October 29th. They set a “hold” rating and a $18.00 target price on the stock. Finally, Guggenheim initiated coverage on Upwork in a research note on Wednesday, October 24th. They set a “buy” rating and a $25.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $22.20.
Upwork (NASDAQ:UPWK) last issued its earnings results on Wednesday, November 7th. The company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). The business had revenue of $64.10 million for the quarter, compared to analysts’ expectations of $62.24 million. The company’s revenue for the quarter was up 22.6% on a year-over-year basis. On average, analysts forecast that Upwork Inc will post -0.12 earnings per share for the current fiscal year.
In other Upwork news, SVP Hayden Brown sold 54,246 shares of the stock in a transaction on Friday, October 5th. The stock was sold at an average price of $13.95, for a total transaction of $756,731.70. The sale was disclosed in a filing with the SEC, which is available through this link.
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About Upwork (NASDAQ:UPWK)
Upwork Inc operates an online platform that connects businesses and freelancers. Its platform comprise freelancers in content marketing, customer service, data science and analytics, graphic design, mobile development, sales, and web development categories. The company was formerly known as Elance-oDesk, Inc and changed its name to Upwork Inc in May 2015.
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