Unlocking Q4 Potential of Upwork (UPWK): Exploring Wall Street Estimates for Key Metrics

Wall Street analysts expect Upwork (UPWK) to post quarterly earnings of $0.17 per share in its upcoming report, which indicates a year-over-year increase of 325%. Revenues are expected to be $178.43 million, up 10.5% from the year-ago quarter.

The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.

Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.

With that in mind, let's delve into the average projections of some Upwork metrics that are commonly tracked and projected by analysts on Wall Street.

The collective assessment of analysts points to an estimated 'Revenues- Managed services' of $13.84 million. The estimate indicates a change of +0.9% from the prior-year quarter.

The combined assessment of analysts suggests that 'Revenues- Marketplace' will likely reach $164.59 million. The estimate indicates a change of +11.4% from the prior-year quarter.

Based on the collective assessment of analysts, 'Gross services volume' should arrive at $1.04 billion. The estimate is in contrast to the year-ago figure of $1 billion.

View all Key Company Metrics for Upwork here>>>

Over the past month, Upwork shares have recorded returns of -2.8% versus the Zacks S&P 500 composite's +5.8% change. Based on its Zacks Rank #1 (Strong Buy), UPWK will likely outperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Just Released: Zacks Top 10 Stocks for 2024

Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.

See New Top 10 Stocks >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Upwork Inc. (UPWK) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Info icon

This data feed is not available at this time.

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.