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Upwork (UPWK) Stock Sinks As Market Gains: What You Should Know
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The latest trading session saw Upwork (UPWK - Free Report) ending at $11.12, denoting a -0.71% adjustment from its last day's close. This change lagged the S&P 500's daily gain of 0.03%. At the same time, the Dow added 0.41%, and the tech-heavy Nasdaq gained 0.12%.
Coming into today, shares of the online freelance marketplace operator had lost 7.13% in the past month. In that same time, the Computer and Technology sector lost 0.55%, while the S&P 500 lost 0.9%.
The investment community will be closely monitoring the performance of Upwork in its forthcoming earnings report. The company is scheduled to release its earnings on May 1, 2024. In that report, analysts expect Upwork to post earnings of $0.19 per share. This would mark year-over-year growth of 2000%. Meanwhile, the latest consensus estimate predicts the revenue to be $186.71 million, indicating a 16.07% increase compared to the same quarter of the previous year.
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.
Investors should also take note of any recent adjustments to analyst estimates for Upwork. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, Upwork holds a Zacks Rank of #3 (Hold).
Investors should also note Upwork's current valuation metrics, including its Forward P/E ratio of 14. This signifies a discount in comparison to the average Forward P/E of 23.06 for its industry.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 62, putting it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within 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.
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Upwork (UPWK) Stock Sinks As Market Gains: What You Should Know
The latest trading session saw Upwork (UPWK - Free Report) ending at $11.12, denoting a -0.71% adjustment from its last day's close. This change lagged the S&P 500's daily gain of 0.03%. At the same time, the Dow added 0.41%, and the tech-heavy Nasdaq gained 0.12%.
Coming into today, shares of the online freelance marketplace operator had lost 7.13% in the past month. In that same time, the Computer and Technology sector lost 0.55%, while the S&P 500 lost 0.9%.
The investment community will be closely monitoring the performance of Upwork in its forthcoming earnings report. The company is scheduled to release its earnings on May 1, 2024. In that report, analysts expect Upwork to post earnings of $0.19 per share. This would mark year-over-year growth of 2000%. Meanwhile, the latest consensus estimate predicts the revenue to be $186.71 million, indicating a 16.07% increase compared to the same quarter of the previous year.
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.
Investors should also take note of any recent adjustments to analyst estimates for Upwork. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. As of now, Upwork holds a Zacks Rank of #3 (Hold).
Investors should also note Upwork's current valuation metrics, including its Forward P/E ratio of 14. This signifies a discount in comparison to the average Forward P/E of 23.06 for its industry.
The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 62, putting it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within 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.