Fintel reports that on May 4, 2023, Needham reiterated coverage of Upwork (NASDAQ:UPWK) with a Buy recommendation.
Analyst Price Forecast Suggests 128.63% Upside
As of April 24, 2023, the average one-year price target for Upwork is 18.27. The forecasts range from a low of 13.13 to a high of $29.40. The average price target represents an increase of 128.63% from its latest reported closing price of 7.99.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Upwork is 744MM, an increase of 16.70%. The projected annual non-GAAP EPS is 0.03.
What is the Fund Sentiment?
There are 432 funds or institutions reporting positions in Upwork. This is a decrease of 24 owner(s) or 5.26% in the last quarter. Average portfolio weight of all funds dedicated to UPWK is 0.24%, an increase of 3.48%. Total shares owned by institutions increased in the last three months by 4.99% to 117,545K shares. 
The put/call ratio of UPWK is 0.76, indicating a bullish outlook.
What are Other Shareholders Doing?
Capital International Investors holds 7,150K shares representing 5.36% ownership of the company. In it's prior filing, the firm reported owning 1,790K shares, representing an increase of 74.97%. The firm increased its portfolio allocation in UPWK by 181.77% over the last quarter.
SMCWX - SMALLCAP WORLD FUND INC holds 7,150K shares representing 5.36% ownership of the company. In it's prior filing, the firm reported owning 1,790K shares, representing an increase of 74.97%. The firm increased its portfolio allocation in UPWK by 186.18% over the last quarter.
Baillie Gifford holds 6,841K shares representing 5.13% ownership of the company. In it's prior filing, the firm reported owning 6,807K shares, representing an increase of 0.49%. The firm decreased its portfolio allocation in UPWK by 64.79% over the last quarter.
Hawk Ridge Capital Management holds 4,176K shares representing 3.13% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,570K shares representing 2.68% ownership of the company. In it's prior filing, the firm reported owning 3,532K shares, representing an increase of 1.09%. The firm decreased its portfolio allocation in UPWK by 28.43% over the last quarter.
Upwork Background Information
(This description is provided by the company.)
Upwork is the world's largest work marketplace that connects businesses with independent talent, as measured by GSV. We serve everyone from one-person startups to 30% of the Fortune 100 with a powerful, trust-driven platform that enables companies and freelancers to work together in new ways that unlock their potential. Our talent community earned over $2 billion on Upwork in 2019 across more than 8,000 skills, including website & app development, creative & design, customer support, finance & accounting, consulting, and operations.
See all Upwork regulatory filings.This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
