JMP Securities analyst Andrew Boone maintained a Buy rating on Upwork (UPWK – Research Report) today and set a price target of $17.00. The company’s shares closed yesterday at $15.24.
According to TipRanks, Boone is a 4-star analyst with an average return of 4.8% and a 51.96% success rate. Boone covers the Communication Services sector, focusing on stocks such as Meta Platforms, Alphabet Class A, and Rover Group.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Upwork with a $18.14 average price target, which is a 19.03% upside from current levels. In a report released yesterday, Goldman Sachs also reiterated a Buy rating on the stock with a $22.00 price target.
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UPWK market cap is currently $2B and has a P/E ratio of -73.22.
Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of UPWK in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Upwork (UPWK) Company Description:
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.
Read More on UPWK:
- Upwork Reports Fourth Quarter and Full Year 2023 Financial Results
- UPWK Upcoming Earnings Report: What to Expect?
- Upwork price target raised to $20 from $19 at Goldman Sachs
- Upwork to Report Fourth Quarter and Full Year 2023 Financial Results on February 14, 2024
- Biden set to ‘unveil contractor rule set to upend gig economy,’ Reuters says
