How Upwork Inc. (UPWK) Works From A Technical Perspective

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Upwork Inc. (NASDAQ:UPWK) traded with a subtraction of -$0.95 to $14.28 on Thursday, a downside of -6.20 percent. An average of 1,313,412 shares of common stock have been traded in the last five days. There was a fall of -$2.18 in the past week, and it reached a new high 7 times over the past 12 months. The last 20 days have seen an average of 913,698 shares traded, while the 50-day average volume stands at 1,188,161.

UPWK stock has decreased by -12.32% in the last month. The company shares reached their 1-month lowest point of $14.20 on 09/22/22. With the stock rallying to its 52-week high on 01/03/22, shares of the company touched a low of $14.85 and a high of $61.90 in 52 weeks. It has reached a new high 1 time so far this year and lost -55.42% or -$19.89 in price. In spite of this, the price is down -76.92% from the 52-week high.


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Insider Transactions

3 days have passed since Upwork Inc. (UPWK) last reported insider trading activity. Brown Hayden, who is President & CEO, most recently acquired $32,050 shares at $15.21 per share on Sep 19. In this transaction, the insider spent $487,327. Chief Accounting Officer, Marie Olivier, disposed of 1,011 shares at a price of $15.20 on Sep 19. The insider now owns more than $15,372 worth of shares. Prior to that, Chief Accounting Officer Marie Olivier went on to Sale 521 shares at $18.54 each on Aug 18. An amount of $9,660 was transacted.

Valuation Metrics

Upwork Inc. (UPWK) stock’s beta is 1.49. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 3.63, the price-to-book (PB) ratio at 8.06.

Financial Health

The quick ratio of Upwork Inc. for the three months ended June 29 was 3.60, and the current ratio was 3.60, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 2.29 and a total debt to equity ratio of 2.29 for the quarter ending June 29. Its gross profit as reported stood at $367.29 million compared to revenue of $502.8 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 -7.40%.

Earnings Surprise

For the three-month period that ended June 29, Upwork Inc. had $532.26 million in cash and short-term investments compared to $562.78 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$23.82 million in the quarter, while revenues of -$24.74 million were grew 30.56%. The analyst consensus anticipated Upwork Inc.’s latest quarter earnings to come in at -$0.08 per share, but it turned out to be -$0.04, a 50.00% surprise. For the quarter, EBITDA amounted to -$19.26 million. Shareholders own equity worth $130.53 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 21 September was 22.26%, suggesting the stock is oversold, with historical volatility in this time frame at 66.84%.

As of today, UPWK’s price is $15.23 -13.27% or -$2.18 from its 5-day moving average. UPWK is currently trading -20.03% lower than its 20-day SMA and -31.93% lower than its 100-day SMA. However, the stock’s current price level is -32.76% below the SMA50 and -60.21% below the SMA200.

The stochastic %K and %D were 5.42% and 7.40%, respectively, and the average true range (ATR) was 0.88. With the 14-day stochastic at 1.71% and the average true range at 0.93, the RSI (14) stands at 28.85%. The stock has reached -1.23 on the 9-day MACD Oscillator while the 14-day reading was at -1.57.

Analyst Ratings

RBC Capital Mkts launched coverage on Upwork Inc. (NASDAQ: UPWK) in its analyst report released on May 23, 2022. The firm assigned the stock a Sector perform 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 2 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 8 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 $21.00 and $42.00, with a median target of $30.00. Taking a look at these predictions, the average price target given by analysts for Upwork Inc. (UPWK) stock is $30.00.

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