We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Upwork (UPWK) Surpasses Market Returns: Some Facts Worth Knowing
Read MoreHide Full Article
The most recent trading session ended with Upwork (UPWK - Free Report) standing at $12.10, reflecting a +1.85% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily gain of 0.15%. Elsewhere, the Dow saw a downswing of 0.02%, while the tech-heavy Nasdaq appreciated by 0.32%.
The online freelance marketplace operator's shares have seen a decrease of 7.19% over the last month, not keeping up with the Computer and Technology sector's gain of 1.32% and the S&P 500's gain of 1.65%.
The upcoming earnings release of Upwork will be of great interest to investors. The company's earnings report is expected on May 1, 2024. The company's earnings per share (EPS) are projected to be $0.19, reflecting a 2000% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $186.71 million, showing a 16.07% escalation compared to the year-ago quarter.
UPWK's full-year Zacks Consensus Estimates are calling for earnings of $0.80 per share and revenue of $776.85 million. These results would represent year-over-year changes of +53.85% and +12.73%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Upwork. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. As of now, Upwork holds a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Upwork currently has a Forward P/E ratio of 14.85. For comparison, its industry has an average Forward P/E of 23.05, which means Upwork is trading at a discount to the group.
The Internet - Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 71, placing it within the top 29% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Upwork (UPWK) Surpasses Market Returns: Some Facts Worth Knowing
The most recent trading session ended with Upwork (UPWK - Free Report) standing at $12.10, reflecting a +1.85% shift from the previouse trading day's closing. The stock's change was more than the S&P 500's daily gain of 0.15%. Elsewhere, the Dow saw a downswing of 0.02%, while the tech-heavy Nasdaq appreciated by 0.32%.
The online freelance marketplace operator's shares have seen a decrease of 7.19% over the last month, not keeping up with the Computer and Technology sector's gain of 1.32% and the S&P 500's gain of 1.65%.
The upcoming earnings release of Upwork will be of great interest to investors. The company's earnings report is expected on May 1, 2024. The company's earnings per share (EPS) are projected to be $0.19, reflecting a 2000% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $186.71 million, showing a 16.07% escalation compared to the year-ago quarter.
UPWK's full-year Zacks Consensus Estimates are calling for earnings of $0.80 per share and revenue of $776.85 million. These results would represent year-over-year changes of +53.85% and +12.73%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Upwork. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. As of now, Upwork holds a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Upwork currently has a Forward P/E ratio of 14.85. For comparison, its industry has an average Forward P/E of 23.05, which means Upwork is trading at a discount to the group.
The Internet - Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 71, placing it within the top 29% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.