Wall Street Analyst Initiated Upwork Inc. [UPWK]. What else is Wall St. saying

Upwork Inc. [NASDAQ: UPWK] surged by $0.09 during the normal trading session on Thursday and reaching a high of $15.27 during the day while it closed the day at $14.96. The company report on October 4, 2022 that Upwork to Report Third Quarter 2022 Financial Results on October 26, 2022.

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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 that it will report its financial results for the third quarter of 2022 on Wednesday, October 26, 2022 after market close. The company will host a Q&A conference call to discuss these results at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) on the same day.

A live webcast of the call will be available on the Upwork Investor Relations website at investors.upwork.com.

Upwork Inc. stock has also gained 8.25% of its value over the past 7 days. However, UPWK stock has declined by -38.31% in the 3 months of the year. Over the past six months meanwhile, it has lost -33.81% and lost -56.21% year-on date.

The market cap for UPWK stock reached $1.98 billion, with 130.06 million shares outstanding and 118.81 million shares in the current float. Compared to the average trading volume of 1.22M shares, UPWK reached a trading volume of 4914617 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 $29.40 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 1.90. 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 0.79, with the Price to Sales ratio for UPWK stock in the period of the last 12 months amounting to 3.52. The Price to Book ratio for the last quarter was 7.92, with the Price to Cash per share for the same quarter was set at 5.04.

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 8.25. With this latest performance, UPWK shares dropped by -12.77% in over the last four-week period, additionally sinking by -33.81% over the last 6 months – not to mention a drop of -69.68% 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 43.99, with the RSI for the last a single of trading hit 49.67, and the three-weeks RSI is set at 42.43 for Upwork Inc. [UPWK]. The present Moving Average for the last 50 days of trading for this stock 17.22, while it was recorded at 14.51 for the last single week of trading, and 21.54 for the last 200 days.

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

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.

Upwork Inc. [UPWK]: Insider Ownership positions

There are presently around $1,499 million, or 81.20% of UPWK stock, in the hands of institutional investors. The top three institutional holders of UPWK stocks are: VANGUARD GROUP INC with ownership of 10,828,652, which is approximately 0.82% of the company’s market cap and around 1.10% of the total institutional ownership; BLACKROCK INC., holding 7,980,978 shares of the stock with an approximate value of $119.39 million in UPWK stocks shares; and JACKSON SQUARE PARTNERS, LLC, currently with $112.44 million in UPWK stock with ownership of nearly 0.334% of the company’s market capitalization.

Positions in Upwork Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 110 institutional holders increased their position in Upwork Inc. [NASDAQ:UPWK] by around 12,142,724 shares. Additionally, 119 investors decreased positions by around 8,282,663 shares, while 35 investors held positions by with 79,751,833 shares. The mentioned changes placed institutional holdings at 100,177,220 shares, according to the latest SEC report filing. UPWK stock had 31 new institutional investments in for a total of 1,705,250 shares, while 38 institutional investors sold positions of 1,401,366 shares during the same period.


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