Upwork (NASDAQ:UPWK) Price Target Raised to $20.00 at Jefferies Financial Group

Upwork (NASDAQ:UPWK) had its price target upped by research analysts at Jefferies Financial Group from $19.00 to $20.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s target price suggests a potential upside of 23.99% from the stock’s current price.

A number of other research firms have also recently commented on UPWK. BTIG Research lifted their price target on shares of Upwork from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Roth Mkm upped their price target on Upwork from $13.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Canaccord Genuity Group increased their price target on Upwork from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group increased their target price on shares of Upwork from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, JMP Securities lifted their price target on Upwork from $14.00 to $18.00 and gave the company a “market outperform” rating in a research report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.36.

Upwork Stock Up 0.1 %

NASDAQ:UPWK traded up $0.02 during trading hours on Monday, hitting $16.13. 1,176,923 shares of the company traded hands, compared to its average volume of 1,430,315. Upwork has a one year low of $8.43 and a one year high of $18.14. The company has a quick ratio of 3.18, a current ratio of 3.18 and a debt-to-equity ratio of 0.87. The company has a market cap of $2.16 billion, a PE ratio of 25.60 and a beta of 1.59. The firm’s 50-day simple moving average is $16.02 and its 200-day simple moving average is $12.44.

Upwork (NASDAQ:UPWK) last announced its earnings results on Wednesday, November 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.03. The firm had revenue of $193.78 million during the quarter, compared to analyst estimates of $185.55 million. Upwork had a return on equity of 22.84% and a net margin of 11.26%. The business’s revenue was up 10.3% compared to the same quarter last year. During the same period last year, the firm posted $0.12 EPS. Equities analysts predict that Upwork will post 0.65 earnings per share for the current year.

Insider Transactions at Upwork

In other news, VP Dave Bottoms sold 10,508 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $15.86, for a total transaction of $166,656.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Olivier Marie sold 9,153 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $15.92, for a total transaction of $145,715.76. Following the completion of the transaction, the chief accounting officer now owns 1,294 shares of the company’s stock, valued at $20,600.48. This trade represents a 87.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 213,813 shares of company stock valued at $3,525,935. 7.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Upwork

Several hedge funds have recently added to or reduced their stakes in the company. KBC Group NV increased its position in shares of Upwork by 45.4% during the 3rd quarter. KBC Group NV now owns 4,791 shares of the company’s stock valued at $50,000 after purchasing an additional 1,497 shares during the last quarter. Quarry LP grew its position in Upwork by 42.6% during the third quarter. Quarry LP now owns 6,201 shares of the company’s stock valued at $65,000 after acquiring an additional 1,851 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of Upwork by 0.6% during the second quarter. Federated Hermes Inc. now owns 318,659 shares of the company’s stock worth $3,426,000 after acquiring an additional 1,996 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Upwork by 3.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 66,809 shares of the company’s stock worth $718,000 after acquiring an additional 2,063 shares during the last quarter. Finally, Citizens Financial Group Inc. RI lifted its holdings in shares of Upwork by 18.4% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 13,719 shares of the company’s stock worth $143,000 after acquiring an additional 2,129 shares during the last quarter. Institutional investors own 77.71% of the company’s stock.

About Upwork

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.