The stock of Upwork Inc. (NASDAQ:UPWK) decreased by -$0.64 on Monday to finish at $14.11, down -4.34 percent. The last five days have seen an average of 3,455,120 shares of common stock traded. 15 times new highs were reached in the current year, with a gain of $3.67. The average number of shares traded over the last 20 days was 3,877,160, while the average volume over the last 50 days totaled 2,352,134.
UPWK stock appreciated 36.20% since last month. On 08/02/23, the company’s shares reached a one-month low of $9.68. The stock touched a high of $18.58 on 08/04/23, after rallying from a low of $6.56 in 52 weeks. The price of UPWK stock has risen by 35.15% or $3.67 this year, reaching a new high 15 times. Still, the stock price is down -24.04% from the 52-week high.
Insider Transactions
UPWK stock investors should be aware that Upwork Inc. (UPWK) stock had its last reported insider trading activity 11 days ago on Aug 18. On Aug 18, President & CEO Brown Hayden sold 22,520 shares at $13.86 each. This transaction resulted in the insider making $312,125. On Aug 18, Marie Olivier sold 1,488 shares at a price of US$13.86. After the transaction, the insider now owns 18,678 shares. Chief Accounting Officer Marie Olivier had earlier sold 222 shares on Jul 18 for $10.65 a share. The transaction was completed for $2,365.
Valuation Metrics
Beta for the stock is 1.40. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 2.93, the price-to-book (PB) ratio of 6.16, and the price-to-cash flow ratio of 731.98.
Financial Health
For the three months ended June 29, Upwork Inc.’s quick ratio was 3.10, while its current ratio was 3.10, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 1.16, and the total debt to equity ratio is 1.16. As far as profitability goes, gross margin for the trailing twelve months is 74.90% percent. Upwork Inc.’s EBITDA margin for the year ended June 29 was -13.06%, whereas its operating margin stood at -5.90% for the same period. Based on annual data, it had gross profit of $457.92 million and revenue of $618.32 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. UPWK’s return on assets (ROA) during the last 12 months has been -2.80%. There was a -11.50% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -10.40%.
Earnings Surprise
According to Upwork Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $168.61 million, while revenues rose by 6.95% to $160.86 million. It was predicted that Upwork Inc.’s quarterly earnings would be $0.1, but it ended up being $0. EBITDA was -$5.66 million for the quarter. At the end of Upwork Inc.’s most recent quarter ended June 29, its liabilities totaled 623.65 million, while its total debt was $369.98 million. Equity owned by shareholders amounts to $134.88 million.
Technical Picture
Here’s a quick look at Upwork Inc.’s (UPWK) price momentum from a technical perspective. As of 28 August, the RSI 9-day stood at 53.32%, suggesting the stock is Neutral, with a 63.80% historical volatility rate.
The stochastic %K and %D were 53.01% and 63.74% respectively, while the average true range (ATR) was 0.90. Based on the 14-day stochastic reading of 37.27%, the RSI (14) reading is 58.33%. On the 9-day MACD Oscillator, the stock is at 0.18, and the 14-day reading is at 0.25.
Analyst Ratings
Upwork Inc. (NASDAQ: UPWK) was downgraded by BTIG Research to a a Neutral rating in its latest research report. The stock was previously rated as a a Buy. Analysts have assigned Upwork Inc. (UPWK) an Overweight rating. UPWK is a stock that is recommended for selling by 0 brokerage firms, while 4 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 6 others recommend it as a buy.
What is UPWK’s price target for the next 12 months?
The current consensus forecast for the stock is between $11.00 and $18.00, with a median target price of $15.00. In analyzing these forecasts, the average price target given by analysts for Upwork Inc. (UPWK) is $14.56.
