Scotiabank Has Lowered Expectations for Upwork (NASDAQ:UPWK) Stock Price

Upwork (NASDAQ:UPWK) had its price target dropped by Scotiabank from $17.00 to $15.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price objective would indicate a potential downside of 3.09% from the company’s current price.

Several other brokerages also recently commented on UPWK. Citizens Jmp restated a “market outperform” rating and set a $27.00 target price on shares of Upwork in a report on Wednesday, November 19th. Zacks Research lowered Upwork from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Citigroup reissued a “neutral” rating on shares of Upwork in a research report on Tuesday. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $20.00 price objective on shares of Upwork in a research report on Tuesday. Finally, Wall Street Zen cut Upwork from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Eight equities research analysts have rated the stock with a Buy rating and six have issued 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 target price of $23.55.

Upwork Trading Down 17.6%

Shares of NASDAQ:UPWK traded down $3.31 during mid-day trading on Tuesday, reaching $15.48. The stock had a trading volume of 6,804,473 shares, compared to its average volume of 2,821,275. The firm has a market cap of $2.02 billion, a PE ratio of 8.82 and a beta of 1.06. The firm has a 50 day simple moving average of $20.29 and a two-hundred day simple moving average of $17.72. Upwork has a twelve month low of $11.13 and a twelve month high of $22.84.

Insider Buying and Selling at Upwork

In other Upwork news, CFO Erica Gessert sold 18,493 shares of the company’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $16.70, for a total value of $308,833.10. Following the sale, the chief financial officer owned 237,612 shares in the company, valued at approximately $3,968,120.40. The trade was a 7.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gary Steele sold 12,500 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $17.51, for a total value of $218,875.00. Following the transaction, the director owned 85,129 shares of the company’s stock, valued at $1,490,608.79. This trade represents a 12.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 523,248 shares of company stock worth $10,029,741 in the last three months. 7.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Upwork

Several hedge funds and other institutional investors have recently bought and sold shares of UPWK. Straightline Group LLC raised its position in shares of Upwork by 2.4% during the fourth quarter. Straightline Group LLC now owns 39,222 shares of the company’s stock worth $777,000 after purchasing an additional 920 shares during the period. Intech Investment Management LLC increased its holdings in Upwork by 16.9% during the 4th quarter. Intech Investment Management LLC now owns 57,620 shares of the company’s stock worth $1,142,000 after purchasing an additional 8,330 shares in the last quarter. King Luther Capital Management Corp lifted its holdings in shares of Upwork by 0.5% in the fourth quarter. King Luther Capital Management Corp now owns 317,542 shares of the company’s stock valued at $6,294,000 after purchasing an additional 1,465 shares in the last quarter. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Upwork during the fourth quarter valued at approximately $73,000. Finally, Clearstead Advisors LLC lifted its stake in Upwork by 226.5% during the 4th quarter. Clearstead Advisors LLC now owns 4,590 shares of the company’s stock valued at $91,000 after acquiring an additional 3,184 shares in the last quarter. Institutional investors and hedge funds own 77.71% of the company’s stock.

Trending Headlines about Upwork

Here are the key news stories impacting Upwork this week:

• Positive Sentiment: Needham reaffirmed a “Buy” rating and set a $25 price target (roughly ~33% upside vs. current levels), which can support buyer interest and limit downside. Benzinga
• Positive Sentiment: Company reported record full‑year 2025 revenue ($787.8M) and strong adjusted EBITDA (225.6M, ~29% margin); Q4 adjusted EBITDA and operating profit improved, and operating cash flow rose — fundamentals that long‑term investors may view favorably. GlobeNewswire: Financial Results
• Neutral Sentiment: Full‑year 2026 guidance was slightly above consensus for EPS (1.43–1.48 vs. 1.41 est.) and roughly in line or modestly above revenue consensus (835–850M vs. ~832.5M) — supportive for FY outlook but not enough to offset near‑term weakness. QuiverQuant: Stock Falls on Q4
• Negative Sentiment: Immediate catalyst: Upwork cut Q1 2026 guidance (EPS $0.260–0.280 vs. $0.360 consensus; revenue $192–197M vs. ~$201M consensus), which drove sharp after‑hours selling. MSN: Stock Plummets After‑Hours
• Negative Sentiment: Q4 execution mixed: revenue (~$198.4M) was slightly below some estimates and multiple outlets report an EPS miss (reports vary between $0.12 and other figures), prompting the steep after‑market drop (~22–23% in some reports). The market focused on the near‑term guidance gap rather than GAAP/adjusted year‑end metrics. Yahoo Finance: Q4 Highlights
• Negative Sentiment: Recent insider selling activity (multiple executives reported sales over the past 6 months) and headline volatility increase short‑term downside risk and may pressure sentiment. QuiverQuant: Insider Activity

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.