Upwork (NASDAQ:UPWK) Reaches New 12-Month Low – Should You Sell?

Upwork Inc. (NASDAQ:UPWK) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $10.07 and last traded at $10.0930, with a volume of 186377 shares. The stock had previously closed at $10.31.

Upwork News Summary

Here are the key news stories impacting Upwork this week:

• Positive Sentiment: Upwork reported Q1 revenue growth of 1.4% year over year and raised its full-year adjusted EBITDA guidance, which suggests the company is still focused on profitability. Upwork Reports First Quarter 2026 Financial Results
• Neutral Sentiment: Several Wall Street firms still maintain bullish views despite cutting targets, including Needham keeping a Buy rating but lowering its target to $15, reflecting continued long-term confidence but less optimism on near-term growth.
• Neutral Sentiment: Upwork’s Q1 EPS beat some expectations, but revenue was roughly in line with estimates, leaving investors focused more on the outlook than the headline bottom-line result. Upwork earnings report
• Negative Sentiment: Management’s Q2 revenue guidance came in well below Wall Street expectations, raising concerns that growth is slowing more than expected.
• Negative Sentiment: FY 2026 revenue guidance also missed consensus, reinforcing worries that the company’s top-line outlook is weaker than analysts had hoped.
• Negative Sentiment: Citizens JMP and Roth MKM both downgraded the stock, while Needham cut its price target sharply, adding to the pressure on shares.
• Negative Sentiment: Post-earnings reports also highlighted softer profitability metrics and restructuring plans, which may be weighing on sentiment toward UPWK.

Wall Street Analysts Forecast Growth

UPWK has been the subject of a number of research analyst reports. The Goldman Sachs Group restated a “buy” rating and set a $27.00 price objective on shares of Upwork in a report on Tuesday, February 10th. Royal Bank Of Canada cut their target price on Upwork from $24.00 to $20.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 10th. UBS Group downgraded shares of Upwork from a “buy” rating to a “neutral” rating and cut their price target for the company from $20.00 to $10.00 in a report on Friday. Needham & Company LLC cut their price objective on Upwork from $25.00 to $15.00 and set a “buy” rating for the company in a report on Friday. Finally, Zacks Research lowered shares of Upwork from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Three equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $17.30.

Upwork Stock Down 16.9%

The business’s 50-day simple moving average is $11.51 and its 200-day simple moving average is $16.02. The stock has a market cap of $1.09 billion, a PE ratio of 10.50 and a beta of 1.07.

Upwork declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 18th that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 18% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, insider Dave Bottoms sold 17,013 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $13.80, for a total transaction of $234,779.40. Following the sale, the insider owned 15,994 shares in the company, valued at approximately $220,717.20. The trade was a 51.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Erica Gessert sold 26,292 shares of the stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $13.80, for a total transaction of $362,829.60. Following the completion of the transaction, the chief financial officer owned 298,386 shares of the company’s stock, valued at approximately $4,117,726.80. The trade was a 8.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 235,186 shares of company stock worth $3,156,199 in the last quarter. 7.50% of the stock is owned by company insiders.

Institutional Trading of Upwork

A number of hedge funds have recently made changes to their positions in the stock. Accredited Wealth Management LLC raised its stake in Upwork by 5,280.0% during the third quarter. Accredited Wealth Management LLC now owns 1,345 shares of the company’s stock valued at $25,000 after buying an additional 1,320 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Upwork by 594.4% in the 4th quarter. Farther Finance Advisors LLC now owns 1,361 shares of the company’s stock worth $27,000 after purchasing an additional 1,165 shares during the last quarter. Clearstead Advisors LLC boosted its stake in Upwork by 998.4% in the 3rd quarter. Clearstead Advisors LLC now owns 1,406 shares of the company’s stock worth $26,000 after purchasing an additional 1,278 shares in the last quarter. Fifth Third Bancorp grew its position in Upwork by 2,405.7% during the 3rd quarter. Fifth Third Bancorp now owns 1,754 shares of the company’s stock valued at $33,000 after purchasing an additional 1,684 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Upwork by 379.2% during the 4th quarter. GAMMA Investing LLC now owns 1,840 shares of the company’s stock valued at $36,000 after purchasing an additional 1,456 shares in the last quarter. 77.71% of the stock is owned by institutional investors.

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.