In the last trading session, 2.12 million Upwork Inc (NASDAQ:UPWK) shares changed hands as the company’s beta touched 1.63. With the company’s per share price at $14.23 changed hands at -$0.09 or -0.63% during last session, the market valuation stood at $1.94B. UPWK’s last price was a discount, traded about -11.6% off its 52-week high of $15.88. The share price had its 52-week low at $6.56, which suggests the last value was 53.9% up since then. When we look at Upwork Inc’s average trading volume, we note the 10-day average is 3.98 million shares, with the 3-month average coming to 2.23 million.
Analysts gave the Upwork Inc (UPWK) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 1.80. If we narrow down to specifics, the data shows that 0 out of 10 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 4 recommended UPWK as a Hold, 6 felt it is a Buy and 0 rated the stock as Underweight. Upwork Inc’s EPS for the current quarter is expected to be $0.17.
Upwork Inc (NASDAQ:UPWK) trade information
Instantly UPWK was in red as seen at the end of in last trading. With action 3.79%, the performance over the past five days has been green. The drop to weekly highs of 14.77 on Monday, 11/20/23 subtracted -0.63% to the stock’s daily price. The company’s shares are showing year-to-date upside of 36.30%, with the 5-day performance at 3.79% in the green. However, in the 30-day time frame, Upwork Inc (NASDAQ:UPWK) is 30.31% up. Looking at the short shares, we see there were 8.1 million shares sold at short interest cover period of 5.91 days.
The consensus price target for the stock as assigned by Wall Street analysts is $16.44, meaning bulls need an upside of 13.44% from its current market value. According to analyst projections, UPWK’s forecast low is $13.00 with $19.00 as the target high. To hit the forecast high, the stock’s price needs a -33.52% plunge from its current level, while the stock would need to tank 8.64% for it to hit the projected low.
Upwork Inc (UPWK) estimates and forecasts
Data shows that the Upwork Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 68.80% over the past 6 months, a 900.00% in annual growth rate that is considerably higher than the industry average of 21.50%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Upwork Inc will rise 325.00%, while the growth in revenue is estimated to hit 1,400.00% for the next quarter. Year-over-year growth is forecast to reach 10.50% up from the last financial year.
Consensus estimates given by 10 financial analysts project the company’s revenue in the current quarter to hit an average of $178.23 million. 8 analysts are of the opinion that Upwork Inc’s revenue for the quarter ending Mar 2024 will be $182.55 million. The company’s revenue for the corresponding quarters a year ago was $161.44 million and $158.99 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 10.40%. The estimates for the next quarter sales put growth at 14.80%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -47.01%. The 2023 estimates are for Upwork Inc earnings to increase by 890.53%.
Upwork Inc is expected to release its next quarterly earnings report between February 13 and February 19.
Upwork Inc (NASDAQ:UPWK)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 8.53% of Upwork Inc shares while 74.59% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 81.55%. There are 74.59% institutions holding the Upwork Inc stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 10.28% of the shares, roughly 13.86 million UPWK shares worth $129.48 million.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 6.74% or 9.09 million shares worth $84.88 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Smallcap World Fund and Vanguard Total Stock Market Index Fund. With 7.56 million shares estimated at $70.66 million under it, the former controlled 5.61% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.77% of the shares, roughly 3.73 million shares worth around $34.87 million.