Upwork Inc. (NASDAQ:UPWK) Stock Now Rated “Hold” by Wall Street Brokerages

Upwork Inc. (NASDAQ:UPWK) has been given a consensus rating of “Hold” by the thirteen ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $13.05.

A number of brokerages have recently issued reports on UPWK. Scotiabank dropped their price target on Upwork from $10.00 to $8.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 11th. The Goldman Sachs Group set a $11.50 target price on shares of Upwork in a research note on Tuesday, August 11th. Royal Bank Of Canada dropped their target price on shares of Upwork from $9.00 to $8.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 11th. Needham & Company LLC cut their price target on shares of Upwork from $15.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Finally, UBS Group decreased their price target on shares of Upwork from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Friday, August 14th.

Insider Buying and Selling

In other Upwork news, CEO Hayden Brown sold 73,241 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $8.43, for a total transaction of $617,421.63. Following the sale, the chief executive officer owned 771,076 shares in the company, valued at $6,500,170.68. This trade represents a 8.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Erica Gessert sold 22,844 shares of Upwork stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $8.43, for a total value of $192,574.92. Following the sale, the chief financial officer directly owned 364,789 shares of the company’s stock, valued at approximately $3,075,171.27. This trade represents a 5.89% 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 ninety days, insiders sold 178,867 shares of company stock worth $1,509,806. Corporate insiders own 4.90% of the company’s stock.

Hedge Funds Weigh In On Upwork

A number of large investors have recently modified their holdings of UPWK. State of Wyoming purchased a new stake in shares of Upwork in the 2nd quarter valued at $1,965,000. Summit Partners Public Asset Management LLC purchased a new position in Upwork in the 4th quarter worth $40,136,000. OneDigital Investment Advisors LLC purchased a new position in Upwork in the 2nd quarter worth $4,151,000. Empowered Funds LLC purchased a new position in Upwork in the 2nd quarter worth $2,051,000. Finally, Landscape Capital Management L.L.C. bought a new stake in Upwork in the second quarter worth $2,158,000. 77.71% of the stock is owned by hedge funds and other institutional investors.

Upwork Stock Performance

Upwork stock opened at $8.07 on Friday. Upwork has a fifty-two week low of $7.44 and a fifty-two week high of $22.84. The stock has a market cap of $1.01 billion, a P/E ratio of 10.48 and a beta of 1.01. The firm’s fifty day moving average price is $8.85 and its 200-day moving average price is $9.46.

Upwork (NASDAQ:UPWK) last posted its earnings results on Monday, August 10th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.34 by $0.07. The business had revenue of $191.66 million during the quarter. Upwork had a return on equity of 16.70% and a net margin of 12.94%.Upwork’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 earnings per share. Upwork has set its FY 2026 guidance at 1.380-1.430 EPS and its Q3 2026 guidance at 0.310-0.330 EPS.

Upwork Company Profile

Upwork Inc operates a global online work marketplace that connects businesses with independent professionals and agencies. The platform supports a wide range of services, including software development, design and creative work, marketing, writing and translation, consulting, customer support, and administrative services.

Through its marketplace, Upwork enables businesses to find talent, post projects, manage engagements, collaborate remotely, and process payments. The company also offers solutions designed for larger organizations, including tools for sourcing, onboarding, managing, and paying independent professionals at scale.

Upwork was formed through the 2014 merger of Elance and oDesk and adopted the Upwork name in 2015.