Upwork (NASDAQ:UPWK) Updates FY 2026 Earnings Guidance

Upwork (NASDAQ:UPWK) issued an update on its FY 2026 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 1.380-1.430 for the period, compared to the consensus EPS estimate of 1.520. The company issued revenue guidance of $730.0 million-$750.0 million, compared to the consensus revenue estimate of $776.0 million. Upwork also updated its Q3 2026 guidance to 0.310-0.330 EPS.

Upwork Stock Performance

Shares of NASDAQ UPWK opened at $8.36 on Wednesday. The business’s 50 day moving average price is $8.86 and its 200-day moving average price is $11.13. Upwork has a fifty-two week low of $7.44 and a fifty-two week high of $22.84. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 10.86 and a beta of 0.99.

Analysts Set New Price Targets

Several analysts have recently weighed in on UPWK shares. UBS Group downgraded Upwork from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $20.00 to $10.00 in a research report on Friday, May 8th. Needham & Company LLC decreased their price objective on shares of Upwork from $15.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday. Weiss Ratings cut shares of Upwork from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, July 29th. Roth Capital downgraded shares of Upwork from a “buy” rating to a “neutral” rating and set a $10.00 target price on the stock. in a research note on Friday, May 8th. Finally, Scotiabank decreased their price target on shares of Upwork from $10.00 to $8.00 and set a “sector perform” rating for the company in a research note on Tuesday. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $13.25.

Insider Activity

In other Upwork news, CFO Erica Gessert sold 9,169 shares of Upwork 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 completion of the transaction, the chief financial officer owned 341,609 shares in the company, valued at approximately $2,784,113.35. This trade represents a 2.61% decrease in their position. The transaction was disclosed in a 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, CEO Hayden Brown sold 23,468 shares of the business’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 directly owned 797,495 shares of the company’s stock, valued at approximately $6,499,584.25. This trade represents a 2.86% decrease in their position. 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 90 days, insiders sold 34,471 shares of company stock valued at $281,446. Company insiders own 4.90% of the company’s stock.

Key Stories Impacting Upwork

Here are the key news stories impacting Upwork this week:

• Positive Sentiment: Upwork reported second-quarter adjusted earnings of $0.41 per share, exceeding the $0.34 analyst consensus, while revenue of $191.66 million also topped estimates of $189.97 million. Upwork second-quarter earnings report
• Positive Sentiment: The company launched an Upwork MCP server that connects AI tools such as Claude, ChatGPT and Cursor directly with its marketplace, potentially making it easier for clients to hire freelancers and for professionals to find work. The service is available at no additional cost. Upwork launches MCP server

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its stake in Upwork by 44.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,231,377 shares of the company’s stock worth $381,166,000 after purchasing an additional 5,893,970 shares during the period. Boston Partners raised its position in shares of Upwork by 785.7% during the 3rd quarter. Boston Partners now owns 2,322,575 shares of the company’s stock valued at $42,962,000 after buying an additional 2,060,356 shares during the period. Balyasny Asset Management L.P. acquired a new position in Upwork in the second quarter valued at approximately $11,955,000. Deutsche Bank AG grew its position in Upwork by 654.5% in the fourth quarter. Deutsche Bank AG now owns 896,695 shares of the company’s stock worth $17,772,000 after acquiring an additional 777,850 shares during the period. Finally, Wellington Management Group LLP purchased a new position in Upwork in the third quarter worth approximately $11,866,000. 77.71% of the stock is owned by institutional investors and hedge funds.

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.