Upwork (NASDAQ:UPWK) Issues Q1 2026 Earnings Guidance

Upwork (NASDAQ:UPWK) updated its first quarter 2026 earnings guidance on Monday. The company provided earnings per share guidance of 0.260-0.280 for the period, compared to the consensus earnings per share estimate of 0.360. The company issued revenue guidance of $192.0 million-$197.0 million, compared to the consensus revenue estimate of $201.0 million. Upwork also updated its FY 2026 guidance to 1.430-1.480 EPS.

Upwork Trading Down 0.7%

Shares of Upwork stock opened at $18.79 on Tuesday. The firm has a market capitalization of $2.45 billion, a P/E ratio of 10.74 and a beta of 1.06. The business has a fifty day simple moving average of $20.29 and a two-hundred day simple moving average of $17.72. Upwork has a 12 month low of $11.13 and a 12 month high of $22.84.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. BTIG Research reissued a “neutral” rating on shares of Upwork in a research report on Wednesday, November 19th. Jefferies Financial Group lifted their target price on shares of Upwork from $22.00 to $27.00 and gave the company a “buy” rating in a report on Monday, January 5th. Zacks Research cut Upwork from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Wall Street Zen lowered Upwork from a “buy” rating to a “hold” rating in a research report on Friday, January 23rd. Finally, Roth Mkm reiterated a “buy” rating and set a $22.00 price objective (up previously from $19.00) on shares of Upwork in a research note on Wednesday, November 5th. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $23.73.

Insiders Place Their Bets

In other Upwork news, CEO Hayden Brown sold 275,000 shares of the stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $19.43, for a total transaction of $5,343,250.00. Following the sale, the chief executive officer directly owned 697,894 shares in the company, valued at approximately $13,560,080.42. This trade represents a 28.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Erica Gessert sold 18,493 shares of Upwork stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $16.70, for a total value of $308,833.10. Following the completion of the sale, the chief financial officer directly owned 237,612 shares of the company’s stock, valued at approximately $3,968,120.40. The trade was a 7.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 523,248 shares of company stock valued at $10,029,741. Insiders own 7.60% of the company’s stock.

Trending Headlines about Upwork

Here are the key news stories impacting Upwork this week:

• Positive Sentiment: Record full‑year results and strong profitability — Upwork reported record 2025 revenue of $787.8M and robust adjusted EBITDA (29% margin for the year; Q4 adjusted EBITDA $52.9M), which supports longer‑term cash generation and operating leverage. GlobeNewswire: Upwork Reports Fourth Quarter and Full Year 2025 Financial Results
• Positive Sentiment: FY‑2026 guidance modestly above consensus — management gave full‑year EPS guidance of $1.43–$1.48 (vs. ~$1.41 consensus) and revenue guidance $835–$850M (vs. ~$832.5M consensus), which suggests the company expects continued annual growth. Yahoo Finance: Q4 highlights & guidance
• Neutral Sentiment: Q4 top‑line roughly in line but mixed metric reporting — Q4 revenue was $198.4M (+3.6% YoY), essentially in‑line with estimates, while gross profit and operating profit improved. Some outlets emphasize an adjusted/operating beat, others highlight weaker GAAP metrics — creating mixed readthroughs. Quiver Quantitative: Q4 results summary
• Negative Sentiment: Disappointing Q1 guidance — management lowered near‑term expectations, issuing Q1 EPS guidance of $0.26–$0.28 and revenue $192–$197M versus consensus of ~$0.36 EPS and ~$201M revenue; this guidance shortfall is the primary catalyst for the selloff. MSN: Upwork stock plummets after hours — here’s why
• Negative Sentiment: GAAP EPS miss / headline confusion — some reports show GAAP diluted EPS of $0.12 (well below certain consensus/adjusted figures), contributing to investor confusion and negative sentiment when headlines contrast adjusted vs. GAAP metrics. Zacks: Upwork misses Q4 earnings estimates
• Negative Sentiment: Insider selling and post‑close weakness — reports of concentrated insider share sales in recent months and a sharp after‑hours drop (~20%+ in some headlines) amplified selling pressure following the release. Quiver Quantitative: insider activity and stock reaction

Institutional Trading of Upwork

A number of large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its position in Upwork by 103.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,103 shares of the company’s stock valued at $81,000 after purchasing an additional 2,087 shares during the period. CIBC Bancorp USA Inc. purchased a new stake in Upwork during the 3rd quarter valued at $244,000. Danske Bank A S purchased a new stake in Upwork during the 3rd quarter valued at $6,968,000. Mercer Global Advisors Inc. ADV bought a new position in shares of Upwork during the 3rd quarter valued at $586,000. Finally, Gotham Asset Management LLC boosted its stake in shares of Upwork by 11.9% in the 3rd quarter. Gotham Asset Management LLC now owns 222,162 shares of the company’s stock worth $4,126,000 after buying an additional 23,689 shares during the last quarter. 77.71% of the stock is currently 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.