Upwork (NASDAQ:UPWK) Posts Earnings Results, Beats Estimates By $0.79 EPS

Upwork (NASDAQ:UPWK) posted its quarterly earnings data on Wednesday. The company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.79, Zacks reports. Upwork had a return on equity of 22.84% and a net margin of 11.26%. Upwork updated its FY 2025 guidance to 1.050-1.100 EPS and its Q1 2025 guidance to 0.240-0.260 EPS.

Upwork Stock Up 2.0 %

NASDAQ:UPWK traded up $0.30 on Wednesday, hitting $15.53. The stock had a trading volume of 4,145,269 shares, compared to its average volume of 2,403,242. The company has a quick ratio of 3.18, a current ratio of 3.18 and a debt-to-equity ratio of 0.87. Upwork has a 52 week low of $8.43 and a 52 week high of $18.14. The business’s fifty day moving average is $16.41 and its 200 day moving average is $13.39. The company has a market cap of $2.08 billion, a PE ratio of 24.65 and a beta of 1.57.

Wall Street Analysts Forecast Growth

UPWK has been the topic of a number of recent analyst reports. UBS Group boosted their price target on shares of Upwork from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Needham & Company LLC restated a “buy” rating and issued a $17.00 target price on shares of Upwork in a report on Friday, January 17th. 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. Piper Sandler reissued an “overweight” rating and issued a $18.00 price objective (up from $13.00) on shares of Upwork in a research note on Thursday, November 7th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $18.00 target price on shares of Upwork in a research note on Thursday, January 30th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.09.

Insider Activity

In related news, CFO Erica Gessert sold 19,816 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $15.13, for a total value of $299,816.08. Following the transaction, the chief financial officer now owns 128,939 shares of the company’s stock, valued at approximately $1,950,847.07. This trade represents a 13.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Elizabeth A. Nelson sold 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $17.37, for a total value of $1,302,750.00. Following the sale, the director now directly owns 48,915 shares of the company’s stock, valued at $849,653.55. This represents a 60.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 184,186 shares of company stock worth $3,056,877 over the last quarter. 7.60% of the stock is currently owned by corporate insiders.

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.