Upwork Inc. [UPWK] Stock trading around $21.63 per share: What’s Next?

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Upwork Inc. [NASDAQ: UPWK] surged by $2.34 during the normal trading session on Thursday and reaching a high of $22.74 during the day while it closed the day at $21.63. The company report on April 27, 2022 that Upwork Reports First Quarter 2022 Financial Results.

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Upwork Inc. (Nasdaq: UPWK), the world’s largest work marketplace that connects businesses with independent talent, as measured by gross services volume (“GSV”), today announced its financial results for the first quarter of 2022. Please visit the Upwork Investor Relations website at investors.upwork.com/financial-information/quarterly-results to view Upwork’s first quarter 2022 Shareholder Letter.

Upwork Inc. stock has also gained 13.78% of its value over the past 7 days. However, UPWK stock has declined by -7.72% in the 3 months of the year. Over the past six months meanwhile, it has lost -60.62% and lost -36.68% year-on date.

The market cap for UPWK stock reached $2.88 billion, with 128.70 million shares outstanding and 117.70 million shares in the current float. Compared to the average trading volume of 1.50M shares, UPWK reached a trading volume of 3419917 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Upwork Inc. [UPWK]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for UPWK shares is $38.60 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on UPWK stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Stifel have made an estimate for Upwork Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 11, 2022. While these analysts kept the previous recommendation, Needham dropped their target price from $60 to $42. The new note on the price target was released on February 11, 2022, representing the official price target for Upwork Inc. stock. Previously, the target price had yet another drop from $55 to $48, while JMP Securities kept a Mkt Outperform rating on UPWK stock. On February 11, 2022, analysts decreased their price target for UPWK shares from 46 to 44.

The Average True Range (ATR) for Upwork Inc. is set at 1.36, with the Price to Sales ratio for UPWK stock in the period of the last 12 months amounting to 5.73. The Price to Book ratio for the last quarter was 10.71, with the Price to Cash per share for the same quarter was set at 5.14. Price to Free Cash Flow for UPWK in the course of the last twelve months was 293.81 with Quick ratio for the last quarter at 4.00.

UPWK stock trade performance evaluation

Upwork Inc. [UPWK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.78. With this latest performance, UPWK shares dropped by -13.20% in over the last four-week period, additionally sinking by -60.62% over the last 6 months – not to mention a drop of -53.67% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for UPWK stock in for the last two-week period is set at 51.32, with the RSI for the last a single of trading hit 55.76, and the three-weeks RSI is set at 48.79 for Upwork Inc. [UPWK]. The present Moving Average for the last 50 days of trading for this stock 22.03, while it was recorded at 20.04 for the last single week of trading, and 36.96 for the last 200 days.

Upwork Inc. [UPWK]: An insightful look at the core fundamentals

Upwork Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.00 and a Current Ratio set at 4.00.

Upwork Inc. [UPWK]: Insider Ownership positions

There are presently around $2,088 million, or 77.50% of UPWK stock, in the hands of institutional investors. The top three institutional holders of UPWK stocks are: VANGUARD GROUP INC with ownership of 10,760,274, which is approximately -1.323% of the company’s market cap and around 1.00% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 10,043,245 shares of the stock with an approximate value of $217.24 million in UPWK stocks shares; and BLACKROCK INC., currently with $172.95 million in UPWK stock with ownership of nearly -0.165% of the company’s market capitalization.

Positions in Upwork Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 137 institutional holders increased their position in Upwork Inc. [NASDAQ:UPWK] by around 21,310,199 shares. Additionally, 138 investors decreased positions by around 12,032,841 shares, while 43 investors held positions by with 63,187,461 shares. The mentioned changes placed institutional holdings at 96,530,501 shares, according to the latest SEC report filing. UPWK stock had 49 new institutional investments in for a total of 10,118,725 shares, while 54 institutional investors sold positions of 3,854,724 shares during the same period.