Are analysts optimistic about Upwork Inc.’s (NASDAQ:UPWK) stock?

Upwork Inc. (NASDAQ: UPWK) closed the day trading at 14.28 down -6.24% from the previous closing price of $15.23. In other words, the price has decreased by $-0.95 from its previous closing price. On the day, 2181667 shares were traded. UPWK reached its highest trading level at $15.09 during the session, while it also had its lowest trading level at $14.07.

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For a better understanding of UPWK, let’s look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 3.60 and its Current Ratio is at 3.60. In the meantime, Its Debt-to-Equity ratio is 2.29 whereas as Long-Term Debt/Eq ratio is at 2.29.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for this company, RBC Capital Mkts on May 23, 2022, initiated with a Sector Perform rating and assigned the stock a target price of $21.

On May 17, 2022, Stifel Downgraded its rating to Hold which previously was Buy and also lowered its target price recommendation from $30 to $20.

Stifel reiterated its Buy rating for the stock on February 11, 2022, while the target price for the stock was revised from $40 to $34.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Sep 19 when Brown Hayden sold 32,050 shares for $15.21 per share. The transaction valued at 487,327 led to the insider holds 868,251 shares of the business.

Marie Olivier sold 1,011 shares of UPWK for $15,372 on Sep 19. The Chief Accounting Officer now owns 6,083 shares after completing the transaction at $15.20 per share. On Aug 18, another insider, Marie Olivier, who serves as the Chief Accounting Officer of the company, sold 521 shares for $18.54 each. As a result, the insider received 9,660 and left with 4,460 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 3.40 while its Price-to-Book (P/B) ratio in mrq is 7.56.

Stock Price History:

Over the past 52 weeks, UPWK has reached a high of $61.90, while it has fallen to a 52-week low of $14.85. The 50-Day Moving Average of the stock is 18.78, while the 200-Day Moving Average is calculated to be 22.55.

Shares Statistics:

Over the past 3-months, UPWK traded about 1.22M shares per day on average, while over the past 10 days, UPWK traded about 1.21M shares per day. A total of 130.06M shares are outstanding, with a floating share count of 118.85M. Insiders hold about 1.00% of the company’s shares, while institutions hold 81.30% stake in the company. Shares short for UPWK as of Jul 14, 2022 were 7.46M with a Short Ratio of 4.76, compared to 7.96M on Jun 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 5.75% and a Short% of Float of 6.27%.

Earnings Estimates

Current recommendations for the stock of the company come from 8 analysts. On average, analysts expect EPS of $-0.04 for the current quarter, with a high estimate of $-0.01 and a low estimate of $-0.08, while EPS last year was $0.04. The consensus estimate for the next quarter is $-0.01, with high estimates of $0.02 and low estimates of $-0.04.

Analysts are recommending an EPS of between $-0.11 and $-0.23 for the fiscal current year, implying an average EPS of $-0.16. EPS for the following year is $0.22, with 8 analysts recommending between $0.42 and $0.08.

Revenue Estimates

11 analysts predict $157.41M in revenue for the current quarter. It ranges from a high estimate of $158.77M to a low estimate of $156.22M. As of the current estimate, Upwork Inc.’s year-ago sales were $128.14M, an estimated increase of 22.80% from the year-ago figure. For the next quarter, 11 analysts are estimating revenue of $159.98M, an increase of 16.90% less than the figure of $22.80% in the same quarter last year. There is a high estimate of $161.6M for the next quarter, whereas the lowest estimate is $158.7M.

A total of 11 analysts have provided revenue estimates for UPWK’s current fiscal year. The highest revenue estimate was $618.03M, while the lowest revenue estimate was $613.8M, resulting in an average revenue estimate of $615.63M. In the same quarter a year ago, actual revenue was $502.8M, up 22.40% from the average estimate. Based on 11 analysts’ estimates, the company’s revenue will be $751.65M in the next fiscal year. The high estimate is $803M and the low estimate is $719.1M. The average revenue growth estimate for next year is up 22.10% from the average revenue estimate for this year.