These Analysts Raise Their Forecasts On Upwork Following Strong Earnings

Benzinga

2024-11-08

Upwork Inc. (NASDAQ:UPWK) reported better-than-expected third-quarter results after Wednesday’s closing bell.

Upwork reported quarterly earnings of 29 cents per share, which beat the analyst consensus estimate of 26 cents. Quarterly revenue came in at $193.8 million, which beat the analyst consensus estimate of $185.85 million and is an increase over sales of $175.73 million from the same period last year.

The company also announced a $100 million share repurchase program.

"Upwork continues to seize the tremendous market opportunity and execute our strategy to deliver durable, profitable growth, with 10% year-over-year revenue growth and our highest-ever net income in the third quarter," said Hayden Brown, president and CEO of Upwork.

Upwork sees fourth-quarter revenue of between $178 million and $183 million and adjusted earnings of between 24 cents and 28 cents per share.

Upwork shares gained 11.9% to trade at $16.32 on Thursday.

These analysts made changes to their price targets on Upwork following earnings announcement.

Piper Sandler analyst Matt Farrell reiterated Upwork with an Overweight and raised the price target from $13 to $18.
Roth MKM analyst Rohit Kulkarni maintained the stock with a Buy and raised the price target from $13 to $20.
Goldman Sachs analyst Eric Sheridan maintained Upwork with a Buy and boosted the price target from $21 to $24.
JMP Securities analyst Andrew Boone maintained Upwork with a Market Outperform and increased the price target from $14 to $18.
Canaccord Genuity analyst Maria Ripps maintained a Buy rating and boosted the price target from $15 to $18.

Considering buying UPWK stock? Here’s what analysts think:

Read More:

How To Earn $500 A Month From Nvidia Stock After Trump Win

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(NASDAQ:UPWK) reported better-than-expected third-quarter results after Wednesday’s closing bell.</p>\n<p>Upwork reported quarterly earnings of 29 cents per share, which beat the analyst consensus estimate of 26 cents. Quarterly revenue came in at $193.8 million, which beat the analyst consensus estimate of $185.85 million and is an increase over sales of $175.73 million from the same period last year.</p>\n<p>The company also announced a $100 million share repurchase program.</p>\n<p>\"Upwork continues to seize the tremendous market opportunity and execute our strategy to deliver durable, profitable growth, with 10% year-over-year revenue growth and our highest-ever net income in the third quarter,\" said Hayden Brown, president and CEO of Upwork.</p>\n<p>Upwork sees fourth-quarter revenue of between $178 million and $183 million and adjusted earnings of between 24 cents and 28 cents per share.</p>\n<p>Upwork shares gained 11.9% to trade at $16.32 on Thursday.</p>\n<p>These analysts made changes to their price targets on Upwork following earnings announcement.</p>\n<ul>\n<li>Piper Sandler analyst Matt Farrell reiterated Upwork with an Overweight and raised the price target from $13 to $18.</li>\n<li>Roth MKM analyst Rohit Kulkarni maintained the stock with a Buy and raised the price target from $13 to $20.</li>\n<li>Goldman Sachs analyst Eric Sheridan maintained Upwork with a Buy and boosted the price target from $21 to $24.</li>\n<li>JMP Securities analyst Andrew Boone maintained Upwork with a Market Outperform and increased the price target from $14 to $18.</li>\n<li>Canaccord Genuity analyst Maria Ripps maintained a Buy rating and boosted the price target from $15 to $18.</li>\n</ul>\n<p><strong>Considering buying UPWK stock? Here’s what analysts think:</strong></p>\n<figure><img decoding=\"async\" height=\"475\" loading=\"lazy\" sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07134908/image-84-1024x475.png\" srcset=\"https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07134908/image-84-1024x475.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07134908/image-84-300x139.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07134908/image-84-768x356.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07134908/image-84.png 1268w\" width=\"1024\"/></figure>\n<p><strong>Read More: </strong></p>\n<ul>\n<li><strong>How To Earn $500 A Month From Nvidia Stock After Trump Win</strong></li>\n</ul></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>These Analysts Raise Their Forecasts On Upwork Following Strong Earnings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThese Analysts Raise Their Forecasts On Upwork Following Strong Earnings\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time smaller\">2024-11-08 02:51</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<html><body><p><strong>Upwork Inc</strong>. (NASDAQ:UPWK) reported better-than-expected third-quarter results after Wednesday’s closing bell.</p>\n<p>Upwork reported quarterly earnings of 29 cents per share, which beat the analyst consensus estimate of 26 cents. Quarterly revenue came in at $193.8 million, which beat the analyst consensus estimate of $185.85 million and is an increase over sales of $175.73 million from the same period last year.</p>\n<p>The company also announced a $100 million share repurchase program.</p>\n<p>\"Upwork continues to seize the tremendous market opportunity and execute our strategy to deliver durable, profitable growth, with 10% year-over-year revenue growth and our highest-ever net income in the third quarter,\" said Hayden Brown, president and CEO of Upwork.</p>\n<p>Upwork sees fourth-quarter revenue of between $178 million and $183 million and adjusted earnings of between 24 cents and 28 cents per share.</p>\n<p>Upwork shares gained 11.9% to trade at $16.32 on Thursday.</p>\n<p>These analysts made changes to their price targets on Upwork following earnings announcement.</p>\n<ul>\n<li>Piper Sandler analyst Matt Farrell reiterated Upwork with an Overweight and raised the price target from $13 to $18.</li>\n<li>Roth MKM analyst Rohit Kulkarni maintained the stock with a Buy and raised the price target from $13 to $20.</li>\n<li>Goldman Sachs analyst Eric Sheridan maintained Upwork with a Buy and boosted the price target from $21 to $24.</li>\n<li>JMP Securities analyst Andrew Boone maintained Upwork with a Market Outperform and increased the price target from $14 to $18.</li>\n<li>Canaccord Genuity analyst Maria Ripps maintained a Buy rating and boosted the price target from $15 to $18.</li>\n</ul>\n<p><strong>Considering buying UPWK stock? Here’s what analysts think:</strong></p>\n<figure><img decoding=\"async\" height=\"475\" loading=\"lazy\" sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07134908/image-84-1024x475.png\" srcset=\"https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07134908/image-84-1024x475.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07134908/image-84-300x139.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07134908/image-84-768x356.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/07134908/image-84.png 1268w\" width=\"1024\"/></figure>\n<p><strong>Read More: </strong></p>\n<ul>\n<li><strong>How To Earn $500 A Month From Nvidia Stock After Trump Win</strong></li>\n</ul></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"UPWK","symbol_name":"Upwork Inc.","start_time":0,"source_url":"https://www.benzinga.com/news/earnings/24/11/41819660/these-analysts-raise-their-forecasts-on-upwork-following-strong-earnings","article_id":"2481456137","we_media_id":"1052270027","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481456137","pubTimestamp":1731005519,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Benzinga","introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"summary":" ","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"UPWK":"Upwork Inc."},"translate_title":"这些分析师在强劲盈利后上调了对Upwork的预测","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"UPWK":0.9},"content_text":"Upwork Inc. (NASDAQ:UPWK) reported better-than-expected third-quarter results after Wednesday’s closing bell.\nUpwork reported quarterly earnings of 29 cents per share, which beat the analyst consensus estimate of 26 cents. Quarterly revenue came in at $193.8 million, which beat the analyst consensus estimate of $185.85 million and is an increase over sales of $175.73 million from the same period last year.\nThe company also announced a $100 million share repurchase program.\n\"Upwork continues to seize the tremendous market opportunity and execute our strategy to deliver durable, profitable growth, with 10% year-over-year revenue growth and our highest-ever net income in the third quarter,\" said Hayden Brown, president and CEO of Upwork.\nUpwork sees fourth-quarter revenue of between $178 million and $183 million and adjusted earnings of between 24 cents and 28 cents per share.\nUpwork shares gained 11.9% to trade at $16.32 on Thursday.\nThese analysts made changes to their price targets on Upwork following earnings announcement.\n\nPiper Sandler analyst Matt Farrell reiterated Upwork with an Overweight and raised the price target from $13 to $18.\nRoth MKM analyst Rohit Kulkarni maintained the stock with a Buy and raised the price target from $13 to $20.\nGoldman Sachs analyst Eric Sheridan maintained Upwork with a Buy and boosted the price target from $21 to $24.\nJMP Securities analyst Andrew Boone maintained Upwork with a Market Outperform and increased the price target from $14 to $18.\nCanaccord Genuity analyst Maria Ripps maintained a Buy rating and boosted the price target from $15 to $18.\n\nConsidering buying UPWK stock? Here’s what analysts think:\n\nRead More: \n\nHow To Earn $500 A Month From Nvidia Stock After Trump Win","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1}}}