In Wednesday’s session, Upwork Inc. (NASDAQ:UPWK) marked $10.21 per share, down from $10.99 in the previous session. While Upwork Inc. has underperformed by -7.10%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, UPWK fell by -58.75%, with highs and lows ranging from $25.05 to $9.79, whereas the simple moving average fell by -30.24% 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 17.90%, showing a positive trend in the upcoming months.
Upwork Inc.’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. The goal here is to ensure that your current return on equity of -36.40% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 3.80, 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.
The average volume for any stock is also a very valuable indicator of volatility, and UPWK has an average volume of 1.36M. On a monthly basis, the volatility of the stock is set at 4.58%, whereas on a weekly basis, it is put at 4.66%, with a loss of -5.46% over the past seven days. Furthermore, long-term investors anticipate a median target price of $17.91, showing growth from the present price of $10.21, 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?
In addition to analyzing the fundamentals, it is also important to look at how many company employees own stock. 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 1.88% in the first quarter. The company now owns 10,787,378 shares of the stock, with a value of $122.33 million, following the purchase of 199,293 additional shares during the last quarter. BlackRock Fund Advisors made another increased to its shares in UPWK during the first quarter, upping its stake by 6.09%. During the last quarter, the company picked up 417,989 additional shares for a total stake of worth $82.63 million, bringing number of shares owned by the company to 7,286,629.
During the first quarter, Capital Research & Management Co added a 5,360,356 position in UPWK. Baillie Gifford & Co. purchased an additional 0.22 million shares in the last quarter, increasing its holdings by 3.32%, now holding 6.81 million shares worth $77.19 million. UPWK shares are owned by institutional investors to the tune of 76.00% at present.
