Upwork (NASDAQ:UPWK) Issues Q4 Earnings Guidance

Upwork (NASDAQ:UPWK) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.24-0.26 for the period, compared to the consensus EPS estimate of $0.22. The company issued revenue guidance of $178-183 million, compared to the consensus revenue estimate of $175.70 million.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on UPWK. Royal Bank of Canada dropped their price objective on Upwork from $15.00 to $11.00 and set a “sector perform” rating on the stock in a report on Thursday, August 8th. The Goldman Sachs Group reduced their price objective on Upwork from $24.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. UBS Group lowered their target price on Upwork from $12.00 to $11.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Roth Mkm reduced their target price on Upwork from $19.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Finally, Citigroup dropped their target price on shares of Upwork from $13.00 to $11.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 25th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.27.

Upwork Trading Up 1.3 %

NASDAQ UPWK traded up $0.19 during trading hours on Wednesday, hitting $14.58. The company’s stock had a trading volume of 4,239,287 shares, compared to its average volume of 2,129,094. The firm has a market capitalization of $1.92 billion, a P/E ratio of 26.16 and a beta of 1.49. The stock has a fifty day moving average of $10.76 and a 200 day moving average of $10.90. The company has a quick ratio of 3.00, a current ratio of 3.00 and a debt-to-equity ratio of 0.99. Upwork has a twelve month low of $8.43 and a twelve month high of $16.36.

Upwork (NASDAQ:UPWK) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.23 by $0.03. Upwork had a net margin of 10.00% and a return on equity of 20.75%. The business had revenue of $193.13 million for the quarter, compared to the consensus estimate of $193.05 million. During the same period in the prior year, the company posted ($0.03) earnings per share. Upwork’s revenue was up 14.5% compared to the same quarter last year. Equities research analysts forecast that Upwork will post 0.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Erica Gessert sold 20,353 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $9.65, for a total value of $196,406.45. Following the sale, the chief financial officer now owns 107,313 shares in the company, valued at $1,035,570.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, VP Dave Bottoms sold 5,818 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $9.81, for a total value of $57,074.58. Following the transaction, the vice president now directly owns 5,818 shares of the company’s stock, valued at approximately $57,074.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Erica Gessert sold 20,353 shares of Upwork stock in a transaction on Monday, August 19th. The stock was sold at an average price of $9.65, for a total transaction of $196,406.45. Following the transaction, the chief financial officer now owns 107,313 shares in the company, valued at $1,035,570.45. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 176,783 shares of company stock valued at $1,800,221 over the last quarter. 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.