In a report released today, Logan Thomas from Stifel Nicolaus maintained a Hold rating on Upwork (UPWK), with a price target of $17.00. The company’s shares closed last Tuesday at $17.51, close to its 52-week high of $17.75.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Upwork with a $16.20 average price target.
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Based on Upwork’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $83.2 million and GAAP net loss of $10.02 million. In comparison, last year the company earned revenue of $68.48 million and had a GAAP net loss of $5.16 million.
Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of UPWK in relation to earlier this year.
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Upwork, Inc. operates an online marketplace that enables businesses to find, hire, and pay freelancers for short-term and longer-term projects. It provides managed services and marketplace offerings such as Upwork Standard, Upwork Enterprise, and Upwork Payroll. The company was founded in December 2013 and is headquartered in Mountain View, CA.
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