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Upwork Inc. (UPWK) Volatility At 3.94%, Should You Add A Position?

Upwork Inc. (NASDAQ: UPWK) is -22.41% lower on its value in year-to-date trading and has touched a low of $6.56 and a high of $25.05 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The UPWK stock was last observed hovering at around $8.34 in the last trading session, with the day’s loss setting it -0.24% off its average median price target of $11.00 for the next 12 months. It is also 52.35% off the consensus price target high of $17.00 offered by 11 analysts, but current levels are -1.25% lower than the price target low of $8.00 for the same period.

Currently trading at $8.10, the stock is -3.81% and -16.27% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.01 million and changing -2.88% at the moment leaves the stock -35.56% off its SMA200. UPWK registered -54.47% loss for a year compared to 6-month loss of -31.18%. The firm has a 50-day simple moving average (SMA 50) of $1.45 and a 200-day simple moving average (SMA200) of -$29.91.

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The stock witnessed a -14.01% gain in the last 1 month and extending the period to 3 months gives it a -29.87%, and is -2.99% down 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 3.94% over the week and 5.37% over the month.

Upwork Inc. (UPWK) has around 850 employees, a market worth around $1.11B and $637.80M in sales. Fwd P/E is 14.81. Profit margin for the company is -7.50%. Distance from 52-week low is 23.48% and -67.66% from its 52-week high. The company has generated returns on investments over the last 12 months (-11.50%).

Upwork Inc. (UPWK) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Upwork Inc. (UPWK) is a “Overweight”. 11 analysts offering their recommendations for the stock have an average rating of 2.20, where 4 rate it as a Hold and 0 think it is a “Overweight”. 7 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 07/27/2023.The EPS is expected to shrink by -55.70% this year

Upwork Inc. (UPWK) Top Institutional Holders

The shares outstanding are 132.84M, and float is at 120.43M with Short Float at 5.48%.

Upwork Inc. (UPWK) Insider Activity

A total of 31 insider transactions have happened at Upwork Inc. (UPWK) in the last six months, with sales accounting for 10 and purchases happening 21 times. The most recent transaction is an insider sale by Marie Olivier, the company’s Chief Accounting Officer. SEC filings show that Marie Olivier sold 2,572 shares of the company’s common stock on May 22 at a price of $8.36 per share for a total of $21507.0. Following the sale, the insider now owns 14036.0 shares.

Upwork Inc. disclosed in a document filed with the SEC on May 18 that Brown Hayden (President & CEO) sold a total of 22,946 shares of the company’s common stock. The trade occurred on May 18 and was made at $8.21 per share for $0.19 million. Following the transaction, the insider now directly holds 0.99 million shares of the UPWK stock.

Still, SEC filings show that on May 18, Marie Olivier (Chief Accounting Officer) disposed off 1,515 shares at an average price of $8.21 for $12432.0. The insider now directly holds 16,608 shares of Upwork Inc. (UPWK).

Upwork Inc. (UPWK): Who are the competitors?

The company’s main competitors (and peers) include Microsoft Corporation (MSFT) that is trading 20.41% up over the past 12 months and PayPal Holdings Inc. (PYPL) that is -23.87% lower over the same period. Workday Inc. (WDAY) is 18.34% up on the 1-year trading charts.

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