Upwork (NASDAQ:UPWK) Issues Q3 2026 Earnings Guidance

Upwork (NASDAQ:UPWK) updated its third quarter 2026 earnings guidance on Monday morning. The company provided EPS guidance of 0.310-0.330 for the period, compared to the consensus EPS estimate of 0.410. The company issued revenue guidance of $176.0 million-$184.0 million, compared to the consensus revenue estimate of $193.8 million. Upwork also updated its FY 2026 guidance to 1.380-1.430 EPS.

Upwork Price Performance

Upwork stock opened at $8.36 on Wednesday. The stock’s 50-day moving average is $8.86 and its 200-day moving average is $11.13. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 10.86 and a beta of 0.99. Upwork has a 12 month low of $7.44 and a 12 month high of $22.84.

Analysts Set New Price Targets

Several research firms have recently weighed in on UPWK. Canaccord Genuity Group downgraded shares of Upwork from a “buy” rating to a “hold” rating and dropped their target price for the stock from $22.00 to $10.00 in a research report on Friday, May 8th. Roth Capital lowered Upwork from a “buy” rating to a “neutral” rating and set a $10.00 price objective for the company. in a report on Friday, May 8th. Weiss Ratings downgraded Upwork from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, July 29th. Royal Bank Of Canada decreased their target price on Upwork from $9.00 to $8.00 and set a “sector perform” rating for the company in a research report on Tuesday. Finally, Scotiabank dropped their price target on Upwork from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research report on Tuesday. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $13.25.

Insider Buying and Selling

In related news, CEO Hayden Brown sold 23,468 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $8.15, for a total transaction of $191,264.20. Following the completion of the transaction, the chief executive officer directly owned 797,495 shares in the company, valued at $6,499,584.25. This represents a 2.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Erica Gessert sold 9,169 shares of the company’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $8.15, for a total transaction of $74,727.35. Following the transaction, the chief financial officer owned 341,609 shares of the company’s stock, valued at $2,784,113.35. This represents a 2.61% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 34,471 shares of company stock valued at $281,446. 4.90% of the stock is currently owned by insiders.

Key Upwork News

Here are the key news stories impacting Upwork this week:

• Positive Sentiment: Upwork reported second-quarter adjusted earnings of $0.41 per share, exceeding the $0.34 analyst consensus, while revenue of $191.66 million also topped estimates of $189.97 million. Upwork second-quarter earnings report
• Positive Sentiment: The company launched an Upwork MCP server that connects AI tools such as Claude, ChatGPT and Cursor directly with its marketplace, potentially making it easier for clients to hire freelancers and for professionals to find work. The service is available at no additional cost. Upwork launches MCP server

Hedge Funds Weigh In On Upwork

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its position in Upwork by 19,361.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,503 shares of the company’s stock worth $47,000 after acquiring an additional 3,485 shares during the period. Mcguire Capital Advisors Inc. bought a new position in Upwork in the 4th quarter valued at about $66,000. PNC Financial Services Group Inc. grew its position in Upwork by 103.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,103 shares of the company’s stock valued at $81,000 after buying an additional 2,087 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in Upwork by 37.2% during the 4th quarter. Parkside Financial Bank & Trust now owns 5,629 shares of the company’s stock valued at $112,000 after buying an additional 1,527 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in Upwork by 1,333.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 13,972 shares of the company’s stock valued at $188,000 after buying an additional 12,997 shares during the period. 77.71% of the stock is owned by institutional investors.

Upwork Company Profile

Upwork Inc operates a leading online talent marketplace that connects businesses with independent professionals worldwide. Through its digital platform, the company enables clients across industries—including technology, marketing, creative services and customer support—to source, hire and manage freelance talent on demand. Key features of the Upwork platform include streamlined job posting, proposal evaluation, time-tracking tools, invoicing and secure payment processing, all designed to simplify collaboration between clients and remote workers.

The company traces its roots to the merger of two pioneering freelance marketplaces, Elance (founded in 1998) and oDesk (founded in 2003), which combined in 2015 to form a unified entity.