Upwork Inc. (NASDAQ: UPWK) dip is a big Buy opportunity

Upwork Inc. (NASDAQ: UPWK) is 10.08% higher on its value in year-to-date trading and has touched a low of $5.14 and a high of $41.42 in the current 52-week trading range. The UPWK stock was last observed hovering at around $38.01 in the last trading session, with the day’s loss setting it -0.01% off its average median price target of $39.00 for the next 12 months. It is also 13.64% off the consensus price target high of $44.00 offered by 7 analysts, but current levels are -35.71% lower than the price target low of $28.00 for the same period.

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Currently trading at $38.00, the stock is 3.12% and 16.36% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.31 million and changing -0.03% at the moment leaves the stock 108.05% off its SMA200. UPWK registered 278.86% gain for a year compared to 6-month gain of 160.99%. The firm has a 50-day simple moving average (SMA 50) of $35.63 and a 200-day simple moving average (SMA200) of $22.07.

The stock witnessed a 12.59% loss in the last 1 month and extending the period to 3 months gives it a 88.03%, and is 13.10% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 7.75% over the week and 6.23% over the month.

Upwork Inc. (UPWK) has around 570 employees, a market worth around $4.36B and $346.10M in sales. Profit margin for the company is -8.90%. Distance from 52-week low is 639.30% and -8.25% from its 52-week high. The company has generated returns on investments over the last 12 months (-6.80%).

Upwork Inc. (UPWK) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Upwork Inc. (UPWK) is a “Overweight”. 7 analysts offering their recommendations for the stock have an average rating of 1.70, where 2 rate it as a Hold and 0 think it is a “Overweight”. 5 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Upwork Inc. is expected to release its quarterly report on 05/12/2021 and quarterly earnings per share for the current quarter are estimated at -$0.05 with sales reaching $97.73M over the same period.The EPS is expected to grow by 18.90% this year, but quarterly earnings will post 21.50% year-over-year. Quarterly sales are estimated to grow 21.70% in year-over-year returns.

Upwork Inc. (UPWK) Top Institutional Holders

252 institutions hold shares in Upwork Inc. (UPWK), with 11.61M shares held by insiders accounting for 9.51% while institutional investors hold 82.56% of the company’s shares. The shares outstanding are 120.68M, and float is at 110.44M with Short Float at 4.78%. Institutions hold 74.71% of the Float.

The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 7.64 million shares valued at $133.3 million. The investor’s holdings represent 6.26% of the UPWK Shares outstanding. As of Sep 29, 2020, the second largest holder is Blackrock Inc. with 6.1 million shares valued at $106.3 million to account for 4.99% of the shares outstanding. The other top investors are Price (T.Rowe) Associates Inc which holds 5.39 million shares representing 4.42% and valued at over $94.07 million, while Ancient Art, L.P. holds 4.23% of the shares totaling 5.17 million with a market value of $90.15 million.

Upwork Inc. (UPWK) Insider Activity

A total of 39 insider transactions have happened at Upwork Inc. (UPWK) in the last six months, with sales accounting for 20 and purchases happening 19 times. The most recent transaction is an insider sale by Brown Hayden, the company’s President & CEO. SEC filings show that Brown Hayden sold 29,592 shares of the company’s common stock on Dec 18 at a price of $39.81 per share for a total of $1.18 million. Following the sale, the insider now owns 0.44 million shares.

Upwork Inc. disclosed in a document filed with the SEC on Nov 23 that NELSON ELIZABETH A (Director) sold a total of 41,674 shares of the company’s common stock. The trade occurred on Nov 23 and was made at $35.15 per share for $1.46 million. Following the transaction, the insider now directly holds 12952.0 shares of the UPWK stock.

Still, SEC filings show that on Nov 20, Gilpin Eric (Senior VP, Sales) disposed off 3,591 shares at an average price of $35.63 for $0.13 million. The insider now directly holds 3,687 shares of Upwork Inc. (UPWK).

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