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Upwork Inc. (NASDAQ:UPWK) Receives Consensus Recommendation of “Moderate Buy” from


Upwork Inc. (NASDAQ:UPWKGet Rating) has been given an average rating of “Moderate Buy” by the thirteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $25.08.

Several research analysts have commented on the stock. The Goldman Sachs Group dropped their price objective on shares of Upwork from $30.00 to $24.00 and set a “buy” rating for the company in a research note on Thursday, October 27th. Needham & Company LLC dropped their price objective on shares of Upwork from $27.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, October 27th. JMP Securities dropped their price objective on shares of Upwork from $33.00 to $18.00 and set a “market outperform” rating for the company in a research note on Thursday, October 27th. Canaccord Genuity Group dropped their price objective on shares of Upwork from $36.00 to $25.00 in a research note on Friday, October 28th. Finally, BTIG Research dropped their price objective on shares of Upwork from $30.00 to $24.00 in a research note on Friday, September 23rd.

Insider Buying and Selling

In related news, CFO Jeff Mccombs sold 71,753 shares of the company’s stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $13.82, for a total value of $991,626.46. Following the completion of the sale, the chief financial officer now directly owns 84,109 shares of the company’s stock, valued at $1,162,386.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Upwork news, CFO Jeff Mccombs sold 71,753 shares of the business’s stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $13.82, for a total value of $991,626.46. Following the completion of the transaction, the chief financial officer now directly owns 84,109 shares in the company, valued at $1,162,386.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hayden Brown sold 32,050 shares of the business’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $15.21, for a total transaction of $487,480.50. Following the completion of the transaction, the chief executive officer now owns 868,251 shares of the company’s stock, valued at $13,206,097.71. The disclosure for this sale can be found here. Insiders sold a total of 106,393 shares of company stock valued at $1,515,159 over the last three months. 8.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Upwork

Large investors have recently added to or reduced their stakes in the company. Alpha Square Group S LLC increased its holdings in shares of Upwork by 18.6% during the third quarter. Alpha Square Group S LLC now owns 255,000 shares of the company’s stock valued at $3,473,000 after acquiring an additional 40,000 shares in the last quarter. Wealthsource Partners LLC acquired a new position in shares of Upwork during the third quarter valued at about $301,000. Algert Global LLC increased its holdings in shares of Upwork by 418.3% during the third quarter. Algert Global LLC now owns 94,802 shares of the company’s stock valued at $1,291,000 after acquiring an additional 76,512 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Upwork by 5.4% during the third quarter. Thrivent Financial for Lutherans now owns 443,400 shares of the company’s stock valued at $6,040,000 after acquiring an additional 22,644 shares in the last quarter. Finally, Two Sigma Advisers LP increased its holdings in shares of Upwork by 11.9% during the third quarter. Two Sigma Advisers LP now owns 1,184,600 shares of the company’s stock valued at $16,134,000 after acquiring an additional 126,100 shares in the last quarter. 75.60% of the stock is currently owned by institutional investors.

Upwork Trading Down 6.7 %

Shares of UPWK opened at $13.09 on Friday. The company has a debt-to-equity ratio of 2.32, a quick ratio of 3.69 and a current ratio of 3.69. The company’s fifty day moving average is $13.98 and its 200 day moving average is $17.55. The stock has a market capitalization of $1.72 billion, a PE ratio of -17.69 and a beta of 1.48. Upwork has a fifty-two week low of $11.39 and a fifty-two week high of $44.07.

About Upwork

(Get Rating)

Upwork Inc, together with its subsidiaries, operates a work marketplace that connects businesses with various independent professionals and agencies in the United States, India, the Philippines, and internationally. The company’s work marketplace provides access to talent with various skills across a range of categories, including sales and marketing, customer service, data science and analytics, design and creative, web, mobile, and software development.

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Analyst Recommendations for Upwork (NASDAQ:UPWK)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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