Upwork Inc. [UPWK] Is Currently -18.02 below its 200 Period Moving Avg: What Does This Mean?


Upwork Inc. [NASDAQ: UPWK] loss -18.02% or -4.17 points to close at $18.97 with a heavy trading volume of 5763113 shares. The company report on July 27, 2022 that Upwork Reports Second 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 second quarter of 2022. Please visit the Upwork Investor Relations website at investors.upwork.com/financial-information/quarterly-results to view Upwork’s second quarter 2022 Shareholder Letter.

It opened the trading session at $22.52, the shares rose to $22.62 and dropped to $18.21, the range by which the price of stock traded the whole day. The daily chart for UPWK points out that the company has recorded -19.86% loss over the past six months. However, it is still -27.74% lower than its most recent low trading price.

If we look at the average trading volume of 1.37M shares, UPWK reached to a volume of 5763113 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $31.82 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 1.70. 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.

RBC Capital Mkts have made an estimate for Upwork Inc. shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on May 23, 2022. While these analysts kept the previous recommendation, Stifel dropped their target price from $30 to $20. The new note on the price target was released on May 17, 2022, representing the official price target for Upwork Inc. stock. Previously, the target price had yet another drop from $40 to $34, while Stifel kept a Buy rating on UPWK stock. On February 11, 2022, analysts decreased their price target for UPWK shares from 60 to 42.

The Average True Range (ATR) for Upwork Inc. is set at 1.57, with the Price to Sales ratio for UPWK stock in the period of the last 12 months amounting to 4.76. The Price to Book ratio for the last quarter was 9.83, with the Price to Cash per share for the same quarter was set at 5.06.

Trading performance analysis for UPWK stock

Upwork Inc. [UPWK] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -18.30. With this latest performance, UPWK shares dropped by -8.00% in over the last four-week period, additionally sinking by -19.86% over the last 6 months – not to mention a drop of -67.32% 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 40.72, with the RSI for the last a single of trading hit 34.97, and the three-weeks RSI is set at 44.07 for Upwork Inc. [UPWK]. The present Moving Average for the last 50 days of trading for this stock 20.06, while it was recorded at 21.97 for the last single week of trading, and 28.35 for the last 200 days.

Upwork Inc. [UPWK]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Upwork Inc. [UPWK] shares currently have an operating margin of -10.63 and a Gross Margin at +72.91. Upwork Inc.’s Net Margin is presently recorded at -11.19.

Return on Equity for this stock declined to -20.13, with Return on Assets sitting at -6.99.

Upwork Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.60 and a Current Ratio set at 3.60.

An analysis of insider ownership at Upwork Inc. [UPWK]

There are presently around $1,872 million, or 80.70% of UPWK stock, in the hands of institutional investors. The top three institutional holders of UPWK stocks are: VANGUARD GROUP INC with ownership of 10,740,584, which is approximately -0.183% of the company’s market cap and around 1.00% of the total institutional ownership; BLACKROCK INC., holding 7,827,039 shares of the stock with an approximate value of $148.48 million in UPWK stocks shares; and JACKSON SQUARE PARTNERS, LLC, currently with $142.1 million in UPWK stock with ownership of nearly 22.864% of the company’s market capitalization.

Positions in Upwork Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 116 institutional holders increased their position in Upwork Inc. [NASDAQ:UPWK] by around 19,610,817 shares. Additionally, 150 investors decreased positions by around 15,068,734 shares, while 30 investors held positions by with 63,983,094 shares. The mentioned changes placed institutional holdings at 98,662,645 shares, according to the latest SEC report filing. UPWK stock had 35 new institutional investments in for a total of 6,520,796 shares, while 61 institutional investors sold positions of 4,326,876 shares during the same period.