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

Upwork (NASDAQ:UPWK) announced its quarterly earnings data on Wednesday. The company reported $1.03 EPS for the quarter, beating 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 0.6 %

Upwork stock traded up $0.09 during midday trading on Thursday, hitting $15.62. 455,665 shares of the company were exchanged, compared to its average volume of 2,337,024. The company has a market cap of $2.09 billion, a PE ratio of 24.82 and a beta of 1.57. The company’s fifty day moving average price is $16.38 and its 200-day moving average price is $13.41. Upwork has a fifty-two week low of $8.43 and a fifty-two week high of $18.14. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.18 and a quick ratio of 3.18.

Analyst Ratings Changes

Several brokerages have recently weighed in on UPWK. Jefferies Financial Group increased their price objective on shares of Upwork from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Canaccord Genuity Group lifted their price target on shares of Upwork from $15.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, November 7th. UBS Group upped their price objective on Upwork from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday. Roth Mkm increased their target price on Upwork from $13.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Citigroup boosted their price target on Upwork from $11.00 to $19.00 and gave the company a “neutral” rating in a research report on Friday, November 29th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Upwork has an average rating of “Moderate Buy” and a consensus target price of $18.36.

Insider Activity

In other Upwork news, CFO Erica Gessert sold 4,279 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $17.11, for a total transaction of $73,213.69. Following the completion of the transaction, the chief financial officer now directly owns 133,093 shares of the company’s stock, valued at $2,277,221.23. This trade represents a 3.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Hayden Brown sold 30,672 shares of Upwork stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $15.13, for a total value of $464,067.36. Following the completion of the transaction, the chief executive officer now owns 1,196,221 shares of the company’s stock, valued at approximately $18,098,823.73. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 184,186 shares of company stock worth $3,056,877. 7.60% of the stock is currently owned by company insiders.

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.