Upwork Inc (NASDAQ:UPWK) traded with a subtraction of -$0.08 to close at $11.42on Friday, a downside of -0.70 percent. An average of 1,288,104 shares of common stock have been traded in the last five days. There was a gain of $0.02 in the past week, and it reached a new high 5 times over the past 12 months. The last 20 days have seen an average of 1,845,291 shares traded, while the 50-day average volume stands at 2,597,578.
UPWK stock has decreased by -23.66% in the last month. The company shares reached their 1-month lowest point of $11.14 on 09/26/23. 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 $15.88 in 52 weeks. It has reached a new high 15 times so far this year and achieved 9.39% or $1.02 in price. In spite of this, the price is down -28.06% 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 Sep 18. In this transaction, the insider spent $362,138. Chief Accounting Officer, Marie Olivier, disposed of 962 shares at a price of $12.73 on Sep 18. The insider now owns more than $12,242 worth of shares. Prior to that, Chief Accounting Officer Marie Olivier went on to Sale 5,835 shares at $15.20 each on Aug 31. An amount of $88,692 was transacted.
Valuation Metrics
Upwork Inc (UPWK) has a trailing price-to-earnings (P/E) ratio of N/A for the broader industry. The stock’s beta is 1.52. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.37, the price-to-book (PB) ratio at 5.02, and the price-to-cash flow ratio at 187.39.
Financial Health
The quick ratio of Upwork Inc for the three months ended June 29 was 3.06, and the current ratio was 3.06, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.18 and a total debt to equity ratio of 1.21 for the quarter ending June 29. Its gross profit as reported stood at $457.92 million compared to revenue of $618.32 million.
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 28 September was 25.36%, suggesting the stock is oversold, with historical volatility in this time frame at 42.75%.
As of today, UPWK’s price is $11.40 +0.13% or $0.02 from its 5-day moving average. UPWK is currently trading -22.65% lower than its 20-day SMA and +42.48% higher than its 100-day SMA. However, the stock’s current price level is +11.54% above the SMA50 and -0.04% below the SMA200.
The stochastic %K and %D were 8.03% and 6.28%, respectively, and the average true range (ATR) was 0.51. With the 14-day stochastic at 9.77% and the average true range at 0.57, the RSI (14) stands at 32.16%. The stock has reached -0.29 on the 9-day MACD Oscillator while the 14-day reading was at -0.85.
Analyst Ratings
BTIG Research downgraded Upwork Inc (NASDAQ: UPWK) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as a Buy. 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 4 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 6 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 $14.56.
