Upwork Inc. (NASDAQ:UPWK) Stock Has Consensus Target Price of $13.05

Shares of Upwork Inc. (NASDAQ:UPWK) have received a consensus recommendation of “Hold” from the thirteen analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $13.05.

Several research firms have recently commented on UPWK. The Goldman Sachs Group set a $11.50 price target on Upwork in a report on Tuesday, August 11th. Needham & Company LLC dropped 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, August 11th. Scotiabank cut their price objective on shares of Upwork from $10.00 to $8.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 11th. Weiss Ratings cut shares of Upwork from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, July 29th. Finally, Canaccord Genuity Group reduced their target price on shares of Upwork from $10.00 to $9.00 and set a “hold” rating on the stock in a research note on Wednesday, August 12th.

Insider Activity

In other news, CEO Hayden Brown sold 23,893 shares of Upwork stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $8.45, for a total transaction of $201,895.85. Following the sale, the chief executive officer owned 793,593 shares of the company’s stock, valued at approximately $6,705,860.85. The trade was a 2.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Anthony Kappus sold 45,732 shares of the company’s stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $8.45, for a total value of $386,435.40. Following the completion of the transaction, the chief operating officer owned 76,342 shares in the company, valued at $645,089.90. This represents a 37.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 178,309 shares of company stock valued at $1,504,750 in the last 90 days. Company insiders own 4.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in UPWK. Ancient Art L.P. boosted its position in shares of Upwork by 8.7% during the fourth quarter. Ancient Art L.P. now owns 4,640,814 shares of the company’s stock worth $91,981,000 after buying an additional 372,147 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Upwork by 26.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,715,616 shares of the company’s stock valued at $40,720,000 after buying an additional 779,506 shares in the last quarter. Rice Hall James & Associates LLC acquired a new stake in shares of Upwork in the second quarter valued at $23,214,000. Summit Partners Public Asset Management LLC purchased a new stake in shares of Upwork in the 4th quarter valued at $40,136,000. Finally, Principal Financial Group Inc. raised its holdings in shares of Upwork by 13.8% in the 1st quarter. Principal Financial Group Inc. now owns 1,097,681 shares of the company’s stock valued at $12,031,000 after buying an additional 133,078 shares during the period. 77.71% of the stock is currently owned by hedge funds and other institutional investors.

Upwork Price Performance

Shares of Upwork stock opened at $8.52 on Tuesday. The stock’s 50 day simple moving average is $8.53 and its 200-day simple moving average is $9.06. The stock has a market cap of $1.06 billion, a P/E ratio of 11.07 and a beta of 1.06. Upwork has a 1-year low of $7.44 and a 1-year high of $22.84.

Upwork (NASDAQ:UPWK) last announced its quarterly earnings data on Monday, August 10th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. The firm had revenue of $191.66 million for the quarter. Upwork had a return on equity of 16.70% and a net margin of 12.94%. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.35 EPS. Upwork has set its FY 2026 guidance at 1.380-1.430 EPS and its Q3 2026 guidance at 0.310-0.330 EPS.

About Upwork

Upwork Inc (NASDAQ: UPWK) operates a global online marketplace that connects businesses with independent professionals and agencies. Clients use the platform to find, hire and collaborate with talent across areas such as software development, design and creative services, marketing, writing, customer support, finance and consulting.

The company provides tools for talent discovery, project management, communication, time tracking, contracting and payments. Its offerings include marketplace-based hiring, packaged services through Project Catalog and solutions designed for larger organizations through Upwork Enterprise.