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Upwork Inc. (NASDAQ: UPWK) Are Up 29.15%, Predicting What To Expect Ahead

During the last session, Upwork Inc. (NASDAQ:UPWK)’s traded shares were 1.55 million, with the beta value of the company hitting 1.53. At the end of the trading day, the stock’s price was $20.96, reflecting an intraday gain of 5.97% or $1.18. The 52-week high for the UPWK share is $61.90, that puts it down -195.32 from that peak though still a striking 29.15% gain since the share price plummeted to a 52-week low of $14.85. The company’s market capitalization is $3.41B, and the average intraday trading volume over the past 10 days was 1.94 million shares, and the average trade volume was 1.42 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.

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Upwork Inc. (NASDAQ:UPWK) trade information

Upwork Inc. (UPWK) registered a 5.97% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 5.97% in intraday trading to $20.96 this Thursday, 08/04/22, hitting a weekly high. The stock’s 5-day price performance is 10.49%, and it has moved by -10.47% in 30 days. Based on these gigs, the overall price performance for the year is -59.08%. The short interest in Upwork Inc. (NASDAQ:UPWK) is 7.46 million shares and it means that shorts have 6 day(s) to cover.

The consensus price target of analysts on Wall Street is $29.36, which implies an increase of 28.61% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $21.00 and $42.00 respectively. As a result, UPWK is trading at a discount of -100.38% off the target high and -0.19% 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 -25.62% during the last six months, with a year-to-date growth rate less than the industry average at -400.00% against -1.80. In the rating firms’ projections, revenue will increase 22.40% compared to the previous financial year.

Revenue for the current quarter is expected to be $157.41 million as predicted by 11 analyst(s). Meanwhile, a consensus of 11 analyst(s) estimates revenue growth to $159.98 million by the end of Dec 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $128.14 million and $136.86 million respectively. In this case, analysts expect current quarter sales to grow by 22.80% and then jump by 16.90% 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 October 25 and October 31. 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 8.95% of total outstanding shares while institutional holders control 79.80%, with the float percentage being 87.65%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 333 institutions own stock in it. As of Mar 30, 2022, the company held over 10.74 million shares (or 8.23% of all shares), a total value of $225.12 million in shares.

The next largest institutional holding, with 7.83 million shares, is of Blackrock Inc.’s that is approximately 6.00% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $164.05 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 Mar 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 3.35 million shares. This amounts to just over 2.57 percent of the company’s overall shares, with a $70.21 million market value. The same data shows that the other fund manager holds slightly less at 2.91 million, or about 2.23% of the stock, which is worth about $61.08 million.

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