Analysts Issue Research Notes On Upwork Inc. (UPWK)

Upwork Inc. (NASDAQ:UPWK) finished Wednesday with an addition of $0.07 to close at $56.60, an upside of 0.12 percent. An average of 1,787,360 shares of common stock have been traded in the last five days. There was a gain of $7.26 in the past week. The last 20 days have seen an average of 1,499,275 shares traded, while the 50-day average volume stands at 1,461,620.

UPWK stock has increased by 21.20% in the last month. The company shares reached their 1-month lowest point of $43.73 on 09/29/21. With the stock rallying to its 52-week high on 07/13/21, shares of the company touched a low of $18.20 and a high of $64.49 in 52 weeks. In spite of this, the price is down -12.23% from the 52-week high.


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Insider Transactions

24 days have passed since Upwork Inc. (UPWK) last reported insider trading activity. Brown Hayden, who is President & CEO, most recently acquired $32,043 shares at $47.56 per share on Sep 20. In this transaction, the insider spent $1,524,034. Director, Srinivasan Leela, disposed of 7,200 shares at a price of $45.28 on Sep 03. The insider now owns more than $325,990 worth of shares. Prior to that, Chief Financial Officer McCombs Jeff went on to Sale 526 shares at $40.77 each on Aug 18. An amount of $21,446 was transacted.

Valuation Metrics

Upwork Inc. (UPWK) has a trailing price-to-earnings (P/E) ratio of 22.10 for the broader industry and 28.57 for the sector. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 15.56, the price-to-book (PB) ratio at 23.29, and the price-to-cash flow ratio at 401.00.

The quick ratio of Upwork Inc. for the three months ended June 29 was 1.80, and the current ratio was 1.80, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.02 for the quarter ending June 29. On the profitability front, the trailing 12-month gross margin is 73.00% against a 5-year average of 68.1%. Upwork Inc.’s EBITDA margin for the year ending June 29 is -2.04%, while its operating margin for the same period stands at -6.00%. Its gross profit as reported stood at $269.36 million compared to revenue of $373.63 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Upwork Inc.’s return on assets was -4.80%, compared to -5.0% over the last five years. For the broader industry, ROE averaged 3.67 over the past year.

Earnings Surprise

For the three-month period that ended June 29, Upwork Inc. had $40.99 million in cash. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $124.18 million in the quarter, while revenues of $113.62 million were grew 29.51%. The analyst consensus anticipated Upwork Inc.’s latest quarter earnings to come in at -$0.09 per share, but it turned out to be $0.03, a 133.30% surprise. For the quarter, EBITDA amounted to -$12.95 million. Shareholders own equity worth $127.62 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Upwork Inc. (UPWK) price momentum. RSI 9-day as of the close on 13 October was 73.61%, suggesting the stock is Overbought, with historical volatility in this time frame at 51.95%.

As of today, UPWK’s price is $54.73 +14.71% or $7.26 from its 5-day moving average. UPWK is currently trading +20.97% higher than its 20-day SMA and +38.32% higher than its 100-day SMA. However, the stock’s current price level is +8.93% above the SMA50 and +55.24% above the SMA200.

The stochastic %K and %D were 91.69% and 94.03%, respectively, and the average true range (ATR) was 2.53. With the 14-day stochastic at 81.82% and the average true range at 2.43, the RSI (14) stands at 68.08%. The stock has reached 4.62 on the 9-day MACD Oscillator while the 14-day reading was at 6.32.

Analyst Ratings

BofA Securities launched coverage on Upwork Inc. (NASDAQ: UPWK) in its analyst report released on October 01, 2021. The firm assigned the stock a a Buy rating.The consensus rating for Upwork Inc. (UPWK) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell UPWK, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 7 others rate it as a “buy”.

What is UPWK’s price target for the next 12 months?

Analysts predict a range of price targets between $55.00 and $77.00, with a median target of $65.00. Taking a look at these predictions, the average price target given by analysts for Upwork Inc. (UPWK) stock is $66.50.

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