Upwork (UPWK) Gets a Buy Rating from Needham

By Jason Carr

Needham analyst Bernie McTernan assigned a Buy rating to Upwork (UPWKResearch Report) today and set a price target of $57.00. The company’s shares closed last Tuesday at $46.70.

According to TipRanks.com, McTernan is a 4-star analyst with an average return of 17.1% and a 68.7% success rate. McTernan covers the Technology sector, focusing on stocks such as Genius Sports Limited, Fiverr International, and Zillow Group Class C.

Currently, the analyst consensus on Upwork is a Strong Buy with an average price target of $67.50.

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The company has a one-year high of $64.49 and a one-year low of $14.74. Currently, Upwork has an average volume of 1.8M.

Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of UPWK in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Upwork, Inc. operates an online marketplace that enables businesses to find, hire, and pay freelancers for short-term and longer-term projects. It provides managed services and marketplace offerings such as Upwork Standard, Upwork Enterprise, and Upwork Payroll. The company was founded in December 2013 and is headquartered in Mountain View, CA.