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Upwork Inc.’s (NASDAQ:UPWK) President and CEO, Hayden Brown, recently sold 60,000 shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. The shares were sold at a weighted average price of $14.1991, generating a total value of approximately $851,946. According to InvestingPro data, Upwork maintains impressive gross profit margins of 77.4% and trades at an attractive P/E ratio of 8.3x, suggesting potential undervaluation relative to its Fair Value. This transaction was conducted under a Rule 10b5-1 plan, which was adopted by Brown on December 6, 2024. Following this sale, Brown holds 1,215,083 shares of Upwork stock. The shares were sold in multiple transactions, with prices ranging from $13.85 to $14.44 per share. Despite recent price volatility, InvestingPro analysis reveals the company maintains a "GREAT" financial health score, with 13 additional key insights available to subscribers through their comprehensive Pro Research Report.
In other recent news, Upwork Inc. has reported robust fourth-quarter results that exceeded expectations in gross services volume (GSV), take rate, and margins. UBS analyst Joshua Chan raised the company’s price target to $19, maintaining a Neutral rating, while Needham increased their target to $19, reiterating a Buy rating. Jefferies also adjusted their price target to $21, citing Upwork’s strong performance and improved EBITDA margins. Goldman Sachs raised their price target to $25, highlighting Upwork’s potential growth driven by advancements in AI and an evolving market.
JMP Securities maintained a Market Outperform rating with a price target of $18, expressing confidence in Upwork’s strategies to drive revenue growth despite macroeconomic headwinds. Upwork’s financial outlook for 2025 aligns with positive projections, with Jefferies noting an increase in spending per client as a promising trend for future revenue expansion. Goldman Sachs emphasized Upwork’s focus on platform expansion and product innovation, anticipating these efforts will enhance adoption and retention. Analysts have highlighted Upwork’s strategic initiatives and commitment to cost optimization as key factors in its financial discipline and long-term profitability.
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