Upwork (NASDAQ:UPWK) Issues Q3 2026 Earnings Guidance

Upwork (NASDAQ:UPWK) issued an update on its third quarter 2026 earnings guidance on Monday. The company provided EPS guidance of 0.310-0.330 for the period, compared to the consensus earnings per share estimate of 0.410. The company issued revenue guidance of $176.0 million-$184.0 million, compared to the consensus revenue estimate of $193.8 million. Upwork also updated its FY 2026 guidance to 1.380-1.430 EPS.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on UPWK. Roth Capital lowered Upwork from a “buy” rating to a “neutral” rating and set a $10.00 price objective on the stock. in a report on Friday, May 8th. Wall Street Zen lowered Upwork from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Scotiabank cut their price target on shares of Upwork from $15.00 to $10.00 and set a “sector perform” rating on the stock in a report on Friday, May 8th. Citigroup cut their price target on shares of Upwork from $17.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, May 21st. Finally, Needham & Company LLC reduced their price target on shares of Upwork from $25.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $15.50.

Upwork Trading Up 1.7%

UPWK traded up $0.16 during midday trading on Monday, hitting $9.83. 6,496,018 shares of the company were exchanged, compared to its average volume of 3,767,414. The company’s 50 day simple moving average is $8.86 and its 200 day simple moving average is $11.28. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 12.14 and a beta of 0.99. Upwork has a 1-year low of $7.44 and a 1-year high of $22.84.

Upwork (NASDAQ:UPWK) last released its quarterly earnings data on Monday, August 10th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. Upwork had a return on equity of 17.92% and a net margin of 13.81%.Upwork has set its FY 2026 guidance at 1.380-1.430 EPS and its Q3 2026 guidance at 0.310-0.330 EPS.

Insider Activity at Upwork

In other Upwork news, CEO Hayden Brown sold 23,468 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $8.15, for a total value of $191,264.20. Following the completion of the transaction, the chief executive officer owned 797,495 shares in the company, valued at approximately $6,499,584.25. This represents a 2.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Erica Gessert sold 9,169 shares of the stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $8.15, for a total transaction of $74,727.35. Following the sale, the chief financial officer directly owned 341,609 shares in the company, valued at approximately $2,784,113.35. The trade was a 2.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 34,471 shares of company stock valued at $281,446. 4.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Upwork

Several institutional investors and hedge funds have recently modified their holdings of UPWK. Mcguire Capital Advisors Inc. acquired a new position in Upwork in the 4th quarter worth about $66,000. Invesco Ltd. grew its holdings in Upwork by 19.2% in the fourth quarter. Invesco Ltd. now owns 3,585,846 shares of the company’s stock valued at $71,071,000 after purchasing an additional 576,512 shares during the period. Corient Private Wealth LLC grew its holdings in Upwork by 25.6% in the fourth quarter. Corient Private Wealth LLC now owns 58,073 shares of the company’s stock valued at $1,151,000 after purchasing an additional 11,829 shares during the period. Mercer Global Advisors Inc. ADV grew its holdings in Upwork by 16.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 36,755 shares of the company’s stock valued at $728,000 after purchasing an additional 5,205 shares during the period. Finally, State of Tennessee Department of Treasury purchased a new stake in shares of Upwork in the fourth quarter valued at approximately $1,133,000. Hedge funds and other institutional investors own 77.71% of the company’s stock.

About Upwork

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.