Upwork’s (UPWK) Sector Perform Rating Reaffirmed at Royal Bank Of Canada

Upwork (NASDAQ:UPWK)‘s stock had its “sector perform” rating restated by analysts at Royal Bank Of Canada in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $8.00 target price on the stock. Royal Bank Of Canada‘s target price suggests a potential downside of 17.70% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Scotiabank reaffirmed a “sector perform” rating on shares of Upwork in a report on Tuesday. Needham & Company LLC upped their price objective on Upwork from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday. Canaccord Genuity Group dropped their target price on Upwork from $10.00 to $9.00 and set a “hold” rating on the stock in a research report on Wednesday, August 12th. BTIG Research reiterated a “neutral” rating on shares of Upwork in a research note on Tuesday. Finally, The Goldman Sachs Group set a $11.50 target price on shares of Upwork in a research note on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $13.25.

Upwork Stock Performance

Upwork stock opened at $9.72 on Tuesday. The firm’s 50-day moving average is $8.66 and its 200-day moving average is $10.65. Upwork has a 1 year low of $7.44 and a 1 year high of $22.84. The company has a market cap of $1.21 billion, a P/E ratio of 12.62 and a beta of 1.06.

Upwork (NASDAQ:UPWK) last released its quarterly earnings data on Monday, November 2nd. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.09. The firm had revenue of $185.60 million for the quarter, compared to analyst estimates of $180.22 million. Upwork had a net margin of 12.94% and a return on equity of 16.70%.

Insiders Place Their Bets

In other news, COO Anthony Kappus sold 45,732 shares of the stock in a transaction on Friday, September 18th. The stock was sold at an average price of $8.45, for a total value of $386,435.40. Following the completion of the transaction, the chief operating officer owned 76,342 shares of the company’s stock, valued at approximately $645,089.90. This represents a 37.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Hayden Brown sold 73,241 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $8.43, for a total value of $617,421.63. Following the transaction, the chief executive officer directly 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 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. In the last quarter, insiders sold 178,868 shares of company stock worth $1,509,462. 4.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Upwork

Large investors have recently bought and sold shares of the stock. Rice Hall James & Associates LLC bought a new position in shares of Upwork in the second quarter valued at approximately $23,214,000. Dimensional Fund Advisors LP increased its stake in shares of Upwork by 26.5% during the first quarter. Dimensional Fund Advisors LP now owns 3,715,616 shares of the company’s stock valued at $40,720,000 after acquiring an additional 779,506 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Upwork during the second quarter valued at approximately $6,156,000. Pacer Advisors Inc. lifted its position in Upwork by 7,074.5% in the first quarter. Pacer Advisors Inc. now owns 726,780 shares of the company’s stock worth $7,966,000 after purchasing an additional 716,650 shares during the period. Finally, Bank of America Corp DE bought a new position in Upwork during the 2nd quarter valued at $5,886,000. Institutional investors and hedge funds own 77.71% of the company’s stock.

Upwork News Roundup

Here are the key news stories impacting Upwork this week:

• Positive Sentiment: Upwork reported third-quarter EPS of $0.40, exceeding the $0.31 analyst consensus, while revenue of $185.6 million topped expectations of $180.2 million. Upwork third-quarter earnings report
• Positive Sentiment: Full-year 2026 EPS guidance was raised or maintained at $1.45-$1.47, above the $1.40 consensus estimate. Full-year revenue guidance of $742 million-$750 million is broadly in line with expectations, supporting confidence in profitability. Upwork third-quarter financial results
• Positive Sentiment: Upwork launched the public beta of Upwork Now, designed to let clients hire experts within minutes. The company is also embedding its freelance marketplace into leading AI tools, potentially improving customer acquisition and demand for freelancers. Upwork Now launch
• Positive Sentiment: Lifted, Upwork’s enterprise-focused business, acquired WorkMotion, expanding its global employer-of-record capabilities. Business Plus revenue also reportedly grew 120% year over year in the third quarter, highlighting strength in higher-value offerings. Upwork acquires WorkMotion
• Negative Sentiment: Fourth-quarter EPS guidance of $0.30-$0.32 is below the $0.35 consensus estimate. Revenue guidance of $169 million-$177 million is centered near expectations but indicates a sequential decline from the third quarter. Upwork Q3 earnings call transcript
• Negative Sentiment: Some analysts remain concerned that declining revenue trends and structural changes from generative AI could undermine Upwork’s long-term relevance, despite the recent earnings rebound. Upwork long-term outlook analysis

Upwork Company Profile

Upwork Inc operates a global work marketplace that connects businesses with independent professionals and agencies. Clients use the platform to find, evaluate, hire and manage talent for projects across areas such as software development, design, marketing, writing, consulting, customer support and administrative services.

The company provides tools for talent discovery, project collaboration, communications, time tracking, contract management and payments. Its offerings serve both individual clients and larger organizations, with features designed to support recurring engagements, contingent-work programs and enterprise talent management.

Upwork was formed in 2015 through the merger of Elance and oDesk, two online freelance-work platforms, and began trading publicly on the Nasdaq stock exchange in 2018.