Given A -215.97% Drop From High, Can Upwork Inc. (NASDAQ: UPWK) Quickly Recover? – Marketing Sentinel
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Given A -215.97% Drop From High, Can Upwork Inc. (NASDAQ: UPWK) Quickly Recover?

During the last session, Upwork Inc. (NASDAQ:UPWK)’s traded shares were 1.52 million, with the beta value of the company hitting 1.67. At the end of the trading day, the stock’s price was $20.41, reflecting an intraday gain of 6.64% or $1.27. The 52-week high for the UPWK share is $64.49, that puts it down -215.97 from that peak though still a striking 27.24% gain since the share price plummeted to a 52-week low of $14.85. The company’s market capitalization is $2.53B, and the average intraday trading volume over the past 10 days was 1.11 million shares, and the average trade volume was 1.25 million shares over the past three months.

Upwork Inc. (UPWK) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 1.70. UPWK has a Sell rating from 0 analyst(s) out of 11 analysts who have looked at this stock. 3 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 8 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.08.

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Upwork Inc. (NASDAQ:UPWK) trade information

Upwork Inc. (UPWK) registered a 6.64% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 6.64% in intraday trading to $20.41 this Wednesday, 06/22/22, hitting a weekly high. The stock’s 5-day price performance is 19.01%, and it has moved by 11.35% in 30 days. Based on these gigs, the overall price performance for the year is -62.49%. The short interest in Upwork Inc. (NASDAQ:UPWK) is 5.14 million shares and it means that shorts have 4.93 day(s) to cover.

The consensus price target of analysts on Wall Street is $32.18, which implies an increase of 36.58% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $20.00 and $53.00 respectively. As a result, UPWK is trading at a discount of -159.68% off the target high and 2.01% off the low.

Upwork Inc. (UPWK) estimates and forecasts

Statistics show that Upwork Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Upwork Inc. (UPWK) shares have gone down -38.73% during the last six months, with a year-to-date growth rate less than the industry average at -383.33% against 0.70. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -366.70% this quarter and then drop -200.00% in the quarter after that. In the rating firms’ projections, revenue will increase 20.20% compared to the previous financial year.

Revenue for the current quarter is expected to be $149.55 million as predicted by 10 analyst(s). Meanwhile, a consensus of 10 analyst(s) estimates revenue growth to $153.83 million by the end of Sep 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $120.24 million and $128.14 million respectively. In this case, analysts expect current quarter sales to grow by 24.40% and then jump by 20.00% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -23.20%. While earnings are projected to return -129.60% in 2022.

UPWK Dividends

Upwork Inc. is due to release its next quarterly earnings between February 21 and February 25. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

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

Upwork Inc. insiders own 8.90% of total outstanding shares while institutional holders control 77.59%, with the float percentage being 85.18%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 358 institutions own stock in it. As of Dec 30, 2021, the company held over 10.76 million shares (or 8.30% of all shares), a total value of $367.57 million in shares.

The next largest institutional holding, with 10.76 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 8.30% of outstanding shares. At the market price on Dec 30, 2021, these shares were valued at $367.57 million.

Also, the Mutual Funds coming in first place with the largest holdings of Upwork Inc. (UPWK) shares are Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. Data provided on Dec 30, 2021 indicates that Vanguard Total Stock Market Index Fund owns about 3.28 million shares. This amounts to just over 2.53 percent of the company’s overall shares, with a $112.07 million market value. The same data shows that the other fund manager holds slightly less at 2.91 million, or about 2.24% of the stock, which is worth about $99.28 million.

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