Upwork Inc. (NASDAQ:UPWK) finished Wednesday with an addition of $1.18 to close at $15.55, an upside of 8.21 percent. An average of 3,043,400 shares of common stock have been traded in the last five days. There was a gain of $1.60 in the past week, and it reached a new high 4 times over the past 12 months. The last 20 days have seen an average of 3,666,955 shares traded, while the 50-day average volume stands at 2,247,480.
UPWK stock has increased by 57.07% in the last month. The company shares reached their 1-month lowest point of $9.68 on 08/02/23. With the stock rallying to its 52-week high on 08/04/23, shares of the company touched a low of $6.56 and a high of $18.58 in 52 weeks. It has reached a new high 15 times so far this year and achieved 48.95% or $5.11 in price. In spite of this, the price is down -16.29% from the 52-week high.
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Insider Transactions
UPWK stock investors should be aware that Upwork Inc. (UPWK) stock had its last reported insider trading activity 6 days ago on Aug 18. In this transaction, the insider spent $312,125. Chief Accounting Officer, Marie Olivier, disposed of 1,488 shares at a price of $13.86 on Aug 18. The insider now owns more than $20,624 worth of shares. Prior to that, Chief Accounting Officer Marie Olivier went on to Sale 222 shares at $10.65 each on Jul 18. An amount of $2,365 was transacted.
Valuation Metrics
Upwork Inc. (UPWK) stock’s beta is 1.40. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 3.20, the price-to-book (PB) ratio at 6.79, and the price-to-cash flow ratio at 799.75.
Financial Health
The quick ratio of Upwork Inc. for the three months ended June 29 was 3.10, and the current ratio was 3.10, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.16 and a total debt to equity ratio of 1.16 for the quarter ending June 29. Upwork Inc.’s EBITDA margin for the year ending June 29 is -13.06%, while its operating margin for the same period stands at -5.90%. Its gross profit as reported stood at $457.92 million compared to revenue of $618.32 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 -2.80%.
Earnings Surprise
For the three-month period that ended June 29, Upwork Inc. had $355.17 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 -$3.99 million in the quarter, while revenues of $17.17 million were shrunk -496.99%. The analyst consensus anticipated Upwork Inc.’s latest quarter earnings to come in at $0 per share, but it turned out to be $0.1. For the quarter, EBITDA amounted to -$5.66 million. Shareholders own equity worth $134.88 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 23 August was 78.09%, suggesting the stock is Overbought, with historical volatility in this time frame at 53.45%.
As of today, UPWK’s price is $14.34 +11.47% or $1.60 from its 5-day moving average. UPWK is currently trading +51.26% higher than its 20-day SMA and +43.72% higher than its 100-day SMA. However, the stock’s current price level is +79.98% above the SMA50 and +18.25% above the SMA200.
The stochastic %K and %D were 71.63% and 68.34%, respectively, and the average true range (ATR) was 0.86. With the 14-day stochastic at 88.29% and the average true range at 0.81, the RSI (14) stands at 75.09%. The stock has reached 0.44 on the 9-day MACD Oscillator while the 14-day reading was at 0.38.
Analyst Ratings
BTIG Research reiterated its a Buy rating on Upwork Inc. (NASDAQ: UPWK), but raised their price target to $15, indicating a potential price decrease of -3.67% for the stock. The consensus rating for Upwork Inc. (UPWK) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell UPWK, while 3 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 $11.00 and $18.00, with a median target of $15.00. Taking a look at these predictions, the average price target given by analysts for Upwork Inc. (UPWK) stock is $14.60.
