Upwork (UPWK) Expected to Announce Quarterly Earnings on Wednesday

Upwork (NASDAQ:UPWK) is projected to announce its earnings results after the market closes on Wednesday, February 12th. Analysts expect the company to announce earnings of $0.24 per share and revenue of $180.38 million for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

Upwork (NASDAQ:UPWK) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. Upwork had a net margin of 11.26% and a return on equity of 22.84%. The business had revenue of $193.78 million for the quarter, compared to the consensus estimate of $185.55 million. During the same period last year, the company posted $0.12 EPS. Upwork’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, analysts expect Upwork to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Upwork Price Performance

NASDAQ UPWK opened at $15.56 on Wednesday. The business has a 50 day simple moving average of $16.56 and a 200 day simple moving average of $13.24. Upwork has a 52-week low of $8.43 and a 52-week high of $18.14. The company has a debt-to-equity ratio of 0.87, a quick ratio of 3.18 and a current ratio of 3.18. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of 24.70 and a beta of 1.57.

Wall Street Analysts Forecast Growth

UPWK has been the subject of several research reports. JMP Securities reaffirmed a “market outperform” rating and set a $18.00 price target on shares of Upwork in a report on Thursday, January 30th. UBS Group boosted their price target on Upwork from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Canaccord Genuity Group boosted their price target on Upwork from $15.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Piper Sandler reiterated an “overweight” rating and issued a $18.00 target price (up from $13.00) on shares of Upwork in a report on Thursday, November 7th. Finally, Citigroup increased their price target on Upwork from $11.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, November 29th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.09.

Insider Buying and Selling

In other Upwork news, VP Dave Bottoms sold 10,508 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $15.86, for a total transaction of $166,656.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Olivier Marie sold 9,153 shares of Upwork stock in a transaction on Friday, November 8th. The shares were sold at an average price of $15.92, for a total value of $145,715.76. Following the completion of the transaction, the chief accounting officer now owns 1,294 shares in the company, valued at $20,600.48. This represents a 87.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 213,847 shares of company stock valued at $3,527,750. Insiders own 7.60% of the company’s stock.

Upwork Company Profile

Upwork Inc, together with its subsidiaries, operates a work marketplace that connects businesses with various independent professionals and agencies in the United States, India, the Philippines, and internationally. The company’s work marketplace provides access to talent with various skills across a range of categories, including administrative support, sales and marketing, design and creative, and customer service, as well as web, mobile, and software development.