Upwork (NASDAQ:UPWK) released its earnings results on Wednesday. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04), Briefing.com reports. The company had revenue of $64.10 million during the quarter, compared to analyst estimates of $62.24 million. The firm’s quarterly revenue was up 22.6% compared to the same quarter last year.
NASDAQ UPWK traded down $2.22 during trading on Thursday, reaching $18.07. 2,367,837 shares of the company’s stock were exchanged, compared to its average volume of 445,417. Upwork has a fifty-two week low of $16.70 and a fifty-two week high of $23.49.
In other Upwork news, SVP Hayden Brown sold 54,246 shares of the business’s stock in a transaction that occurred on Friday, October 5th. The stock was sold at an average price of $13.95, for a total transaction of $756,731.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
A number of research firms recently issued reports on UPWK. Jefferies Financial Group lifted their target price on Upwork from $20.00 to $21.00 and gave the company a “hold” rating in a research report on Thursday. Stifel Nicolaus began coverage on Upwork in a research report on Monday, October 29th. They issued a “hold” rating and a $18.00 target price on the stock. Guggenheim began coverage on Upwork in a research report on Wednesday, October 24th. They issued a “buy” rating and a $25.00 target price on the stock. Citigroup began coverage on Upwork in a research report on Monday, October 29th. They issued a “buy” rating and a $23.00 target price on the stock. Finally, Royal Bank of Canada initiated coverage on Upwork in a research report on Monday, October 29th. They issued an “outperform” rating and a $24.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $22.20.
Upwork Inc operates an online platform that connects businesses and freelancers. Its platform comprise freelancers in content marketing, customer service, data science and analytics, graphic design, mobile development, sales, and web development categories. The company was formerly known as Elance-oDesk, Inc and changed its name to Upwork Inc in May 2015.
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