Upwork (NASDAQ:UPWK) Issues Q2 2026 Earnings Guidance

Upwork (NASDAQ:UPWK) updated its second quarter 2026 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.350-0.370 for the period, compared to the consensus estimate of 0.330. The company issued revenue guidance of $187.0 million-$193.0 million, compared to the consensus revenue estimate of $204.0 million. Upwork also updated its FY 2026 guidance to 1.500-1.550 EPS.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Wall Street Zen raised Upwork from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Royal Bank Of Canada dropped their price objective on Upwork from $24.00 to $20.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 10th. Scotiabank cut their price objective on Upwork from $17.00 to $15.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 10th. Canaccord Genuity Group set a $22.00 target price on Upwork in a report on Tuesday, February 10th. Finally, Roth Mkm boosted their target price on shares of Upwork from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Upwork has a consensus rating of “Moderate Buy” and a consensus target price of $22.60.

Upwork Price Performance

Shares of NASDAQ UPWK traded up $0.53 during trading on Thursday, hitting $10.61. 7,947,853 shares of the company were exchanged, compared to its average volume of 3,662,660. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 12.63 and a beta of 1.07. The firm’s fifty day moving average price is $11.56 and its 200 day moving average price is $16.06. Upwork has a 1 year low of $10.02 and a 1 year high of $22.84.

Upwork (NASDAQ:UPWK) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.10. The business had revenue of $195.48 million for the quarter, compared to analysts’ expectations of $195.90 million. Upwork had a return on equity of 18.76% and a net margin of 14.65%.Upwork has set its FY 2026 guidance at 1.500-1.550 EPS and its Q2 2026 guidance at 0.350-0.370 EPS. On average, research analysts forecast that Upwork will post 1.4 earnings per share for the current year.

Upwork announced that its board has authorized a share repurchase program on Wednesday, February 18th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 18% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Hayden Brown sold 23,745 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $12.31, for a total value of $292,300.95. Following the sale, the chief executive officer owned 798,732 shares in the company, valued at $9,832,390.92. This represents a 2.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Erica Gessert sold 9,278 shares of the company’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $12.31, for a total value of $114,212.18. Following the completion of the sale, the chief financial officer owned 307,240 shares in the company, valued at approximately $3,782,124.40. This represents a 2.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 235,186 shares of company stock worth $3,156,199 in the last quarter. Company insiders own 7.50% of the company’s stock.

Trending Headlines about Upwork

Here are the key news stories impacting Upwork this week:

• Positive Sentiment: Q1 EPS beat consensus — Upwork reported EPS above Street expectations and reiterated/raised full‑year adjusted EBITDA and provided FY EPS guidance that topped consensus, which supports profitability improvement. Upwork Reports First Quarter 2026 Financial Results
• Neutral Sentiment: Top‑line essentially flat — Q1 revenue was roughly in line with prior quarter/consensus (about $195M), showing slow year‑over‑year growth; some operational metrics (GSV per active client) improved modestly from SMB and AI work categories. Upwork (NASDAQ:UPWK) Reports Q1 CY2026 In Line With Expectations But Stock Drops 19.3%
• Negative Sentiment: Softer revenue guidance — Management cut Q2 and FY revenue targets (Q2: $187–$193M vs. consensus ~ $204M; FY: $760–$790M vs. consensus ~ $841M), signaling slower demand and driving the sharp after‑hours selloff. Upwork Stock Plunges On Q1 Earnings, Softer Revenue Outlook, Restructuring Plan
• Negative Sentiment: Operational and cash flow softness in certain reporting — third‑party summaries show declines in operating profit, net income and operating cash flow year‑over‑year, which may heighten near‑term investor concern about growth durability. Upwork Inc. (UPWK) Stock Falls on Q1 2026 Earnings
• Negative Sentiment: Insider selling and mixed institutional moves — notable insider sales over recent months are flagged in data services, which can amplify negative sentiment despite some large institutional buys reported in Q4 2025. Upwork Inc. (UPWK) Stock Falls on Q1 2026 Earnings

Institutional Investors Weigh In On Upwork

Large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its holdings in Upwork by 19,361.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,503 shares of the company’s stock valued at $47,000 after buying an additional 3,485 shares during the last quarter. Mcguire Capital Advisors Inc. acquired a new stake in Upwork during the 4th quarter valued at $66,000. PNC Financial Services Group Inc. grew its holdings in Upwork by 103.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,103 shares of the company’s stock valued at $81,000 after buying an additional 2,087 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in Upwork by 37.2% during the 4th quarter. Parkside Financial Bank & Trust now owns 5,629 shares of the company’s stock valued at $112,000 after buying an additional 1,527 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in Upwork by 1,333.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 13,972 shares of the company’s stock valued at $188,000 after buying an additional 12,997 shares during the last quarter. Institutional investors and hedge funds own 77.71% of the company’s stock.

About Upwork

Upwork Inc operates a leading online talent marketplace that connects businesses with independent professionals worldwide. Through its digital platform, the company enables clients across industries—including technology, marketing, creative services and customer support—to source, hire and manage freelance talent on demand. Key features of the Upwork platform include streamlined job posting, proposal evaluation, time-tracking tools, invoicing and secure payment processing, all designed to simplify collaboration between clients and remote workers.

The company traces its roots to the merger of two pioneering freelance marketplaces, Elance (founded in 1998) and oDesk (founded in 2003), which combined in 2015 to form a unified entity.