The share price of Upwork Inc. (NASDAQ:UPWK) rose to $14.53 per share on Thursday from $13.55. While Upwork Inc. has overperformed by 7.23%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, UPWK fell by -48.55%, with highs and lows ranging from $29.92 to $9.79, whereas the simple moving average fell by -10.13% in the last 200 days.
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On May 23, 2022, RBC Capital Mkts started tracking Upwork Inc. (NASDAQ: UPWK) recommending Sector Perform. A report published by Stifel on May 17, 2022, Downgraded its rating to ‘Hold’ for UPWK. Stifel also reiterated UPWK shares as ‘Buy’, quoting a target price of $34 on the company’s shares in a report dated February 11, 2022. Needham Reiterated the rating as Buy on February 11, 2022, but set its price target from $60 to $42. JMP Securities resumed its ‘Mkt Outperform’ rating for UPWK, as published in its report on February 11, 2022. Goldman’s report from February 11, 2022 suggests a price prediction of $44 for UPWK shares, giving the stock a ‘Buy’ rating. BTIG Research also rated the stock as ‘Buy’.
Analysis of Upwork Inc. (UPWK)
Further, the quarter-over-quarter increase in sales is 23.80%, showing a positive trend in the upcoming months.
To gain a thorough understanding of Upwork Inc.’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of -38.50% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 3.70, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and UPWK is recording an average volume of 1.45M. On a monthly basis, the volatility of the stock is set at 4.60%, whereas on a weekly basis, it is put at 5.37%, with a gain of 16.52% over the past seven days. Furthermore, long-term investors anticipate a median target price of $19.18, showing growth from the present price of $14.53, which can serve as yet another indication of whether UPWK is worth investing in or should be passed over.
How Do You Analyze Upwork Inc. Shares?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.80%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 76.00% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in UPWK shares?
The recent increase in stakes in UPWK appears to be a result of several institutional investors and hedge funds increasing their positions. The Vanguard Group, Inc.’s position in UPWK has increased by 0.60% in the first quarter. The company now owns 10,588,085 shares of the stock, with a value of $110.54 million, following the purchase of 62,705 additional shares during the last quarter. Jackson Square Partners LLC made another decreased to its shares in UPWK during the first quarter, downing its stake by -5.79%. During the last quarter, the company picked up -434,970 additional shares for a total stake of worth $73.93 million, bringing number of shares owned by the company to 7,080,973.
During the first quarter, Baillie Gifford & Co. added a 218,740 position in UPWK. BlackRock Fund Advisors sold an additional -0.14 million shares in the last quarter, decreasing its holdings by -2.00%, now holding 6.73 million shares worth $70.28 million. At the end of the first quarter, Hawk Ridge Capital Management LP increased its UPWK holdings by 24.36% and now holds 4.18 million UPWK shares valued at $43.6 million with the added 0.82 million shares during the period. UPWK shares are owned by institutional investors to the tune of 76.00% at present.
