Upwork Inc. (NASDAQ: UPWK) Shares Are Heading Higher – Marketing Sentinel
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Upwork Inc. (NASDAQ: UPWK) Shares Are Heading Higher

In the last trading session, 1.6 million shares of the Upwork Inc. (NASDAQ:UPWK) were traded. Most recently the company’s share price was $38.35, and it changed around -$1.12 or -2.84% from the last close, which brings the market valuation of the company to $5.06B. UPWK currently trades at a discount to its 52-week high of $64.49, offering almost -68.16% off that amount. The share price’s 52-week low was $30.41, which indicates that the current value has risen by an impressive 20.7% since then. We note from Upwork Inc.’s average daily trading volume that its 3-month average coming to 1.46 million.

Upwork Inc. stock received a consensus recommendation rating of a Buy, based on a mean score of 1.70. If we narrow it down even further, the data shows that 0 out of 7 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 1 recommended UPWK as a Hold, whereas 6 deemed it a Buy, and 0 rated it as Underweight. Upwork Inc. is expected to report earnings per share of $0.02 for the current quarter.

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Upwork Inc. (NASDAQ:UPWK) trade information

Instantly UPWK has showed a red trend with a performance of -2.84% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 45.99 on Tuesday, 11/23/21 increased the stock’s daily price by 16.61%. The company’s shares are currently up 11.10% year-to-date, but still down -15.40% over the last five days. On the other hand, Upwork Inc. (NASDAQ:UPWK) is -36.10% down in the 30-day period.

The consensus price target as assigned by Wall Street analysts is $64.14, which translates to bulls needing to increase their stock price by 40.21% from its current value. Analyst projections state that UPWK is forecast to be at a low of $55.00 and a high of $74.00. In order for the stock price to hit the forecast high, the stock would need to plunge -92.96% from its current level, while the stock would need to crash -43.42% from its current level to reach the projected low.

Upwork Inc. (UPWK) estimates and forecasts

Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain 200.00% in revenue this quarter, and will report a decrease of -300.00% in the next quarter. The year-over-year growth rate is expected to be 32.10%, up from the previous year.

Consensus estimates provided by 6 financial analysts predict the company will bring in an average of $126.63 million in revenue for the current quarter. 6 analysts expect Upwork Inc. to make $129.32 million in revenue for the quarter ending Dec 2021. The company’s sales for the same quarters a year ago were $96.75 million and $106.15 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 30.90%. Forecasts for the next quarter put sales growth at 21.80%.

UPWK Dividends

Upwork Inc.’s next quarterly earnings report is expected to be released on May 04.

Upwork Inc. (NASDAQ:UPWK)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 9.26% of Upwork Inc. shares, and 74.69% of them are in the hands of institutional investors. The stock currently has a share float of 82.31%. Upwork Inc. stock is held by 376 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Sep 29, 2021, it held 8.50% of the shares, which is about 10.9 million shares worth $491.03 million.

Price (T.Rowe) Associates Inc, with 7.61% or 9.76 million shares worth $568.68 million as of Jun 29, 2021, holds the second largest percentage of outstanding shares.

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Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund were the top two Mutual Funds as of Jun 29, 2021. The former held 3.2 million shares worth $186.71 million, making up 2.50% of all outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held roughly 2.82 million shares worth around $164.64 million, which represents about 2.20% of the total shares outstanding.

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