UPWK Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03
Price $8.30
Market Cap (MRQ) $1.04B
P/E (TTM) 10.8
EPS (TTM) $0.77
Revenue (TTM) $787M
ROE (TTM) 16.7%
Debt/Equity (MRQ) 0.6
52W Range $7–$23

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About Upwork Inc. - Common Stock Company overview from Wikipedia

05 · wikidata

Upwork Inc. (formerly Elance-oDesk) is an American freelancing platform headquartered in Palo Alto and San Francisco, California. The company was formed in 2013 as Elance-oDesk after the merger of Elance Inc. and oDesk Corp. The merged company was subsequently rebranded as Upwork in 2015. Upwork went public in 2018. Changes to its fees and account policies have repeatedly drawn protests from freelancers, and after a prolonged decline in its share price the company became the target of an activist investor campaign in 2024 and carried out large workforce reductions in 2024 and 2026.

History

1998–2015: Early history

Elance was founded in 1998 by Bernard Sheth and Srini Anumolu in Jersey City. In December 1999, the company's 22 employees relocated to Sunnyvale, in California's Silicon Valley. Elance's first product was the Elance Small Business Marketplace. In 2001, Anumolu, by then eLance's general manager, was indicted on securities fraud charges over kickbacks he was alleged to have taken while working at New York Life before co-founding the company. The company declined to comment.

oDesk was founded in 2003 by Odysseas Tsatalos and Stratis Karamanlakis, who collaborated remotely between the United States and Greece. Originally created as a staffing firm, oDesk eventually became an online marketplace that allowed registered users to find, hire, and collaborate with remote workers.

Elance and oDesk announced their merger on December 18, 2013, to create Elance-oDesk.

2015–present: Upwork

In 2015, Elance-oDesk was renamed as Upwork, which coincided with an upgrade of the oDesk platform under the same name. The newly named Upwork also planned to phase out the Elance platform within a couple of years. In 2016, the company replaced its flat freelancer fee with a sliding scale, a change that drew protests from users.

The company was listed on the Inc. magazine 5000 list from 2009 to 2014 and filed for an initial public offering on October 3, 2018.

In January 2020, Hayden Brown was appointed CEO of Upwork. In March 2022, Upwork was named to Time's list of TIME100 Most Influential Companies of 2022.

In 2023, the company launched a hub for AI-related services. In 2025, Upwork partnered with OpenAI. In 2024, the company introduced "Uma", an AI assistant. The system was built on large language models trained on platform data.

In September 2024, the activist investor Engine Capital disclosed a four percent stake in Upwork and called for changes to the company's board, saying the company needed to fix "foundational issues". Upwork's shares had fallen 37 percent since the start of the year. The following month, the company reported a quarterly profit of $28 million and cut 21 percent of its workforce.

Beginning in 2023, Upwork acquired the AI video conferencing platform Headroom; the search-as-service company ObjectiveAI in 2024; and in 2025 the workforce management company Bubty and Ascen, a compliance and EOR company.

For the 2025 fiscal year the company reported net income of $115.4 million, down 46 percent from $215.6 million the year before. On May 7, 2026, Upwork announced its second layoff of 25% of its workforce within two years. Its shares fell roughly 19 percent over the following five trading sessions, extending a decline of more than 50 percent over the previous 52 weeks. In the second quarter of 2026, Upwork reported year-over-year declines in gross services volume, revenue and active clients.

Service and business model

Businesses and individuals connect through the Upwork platform to conduct business. Clients post a description of their job and a price range they are willing to pay for a freelancer to complete it. The client may invite specific freelancers to apply for their jobs, or post the job for any freelancer who is interested to apply. Once the client has chosen who they want to complete the job, they hire that freelancer by sending a contract with set hours, pay rate, and a deadline for the work to be completed. Freelancers are also required to purchase "connects" in order to be able to bid for jobs.

Fees

Until 2016, Upwork charged freelancers a flat fee of 10 percent of their earnings. In May 2016 the company replaced it with a sliding scale based on a freelancer's lifetime billings to each client: 20 percent on the first $500, 10 percent on billings up to $10,000, and 5 percent beyond that, with a separate 2.75 percent payment-processing charge for clients. Chief executive Stephane Kasriel said the change was meant to encourage longer-term projects and that the company was losing money on smaller jobs. Freelancers protested on Twitter and Reddit. In a survey of 226 freelancers posted in Upwork's online community, nearly 78 percent said their average contract per client was under $500, meaning their fees would double.

Account suspensions

In March 2017, Upwork reported 14 million users in 180 countries with US$1 billion in annual freelancer billings. In 2020, the company purged 1.8 million freelancers, many of whom were rated as "less skilled" or had lower rankings on the platform, as it focused on serving Fortune 500 companies.

On March 7, 2022, Upwork started suspending operations for freelancers and clients in Russia and Belarus as a sanction following Russia's invasion of Ukraine in February 2022. Existing contracts were allowed to run only until May 1, 2022.

In July 2025, Ukrainian media reported that Upwork had begun mass-suspending the accounts of Ukrainian freelancers and companies after identity-verification checks, without an option to appeal, and that the platform had closed its official communication channels and community forum for Ukrainian users. Ukraine's minister of digital transformation, Mykhailo Fedorov, said his ministry was looking into the issue. At the end of July, after the ministry prepared an appeal to the company, Fedorov said Upwork had begun unblocking the accounts.

Security and fraud

In 2009, a hacker breached Elance and obtained the personal details of more than 1.3 million registered users including names, addresses, passwords, and associated email account data.

In a 2024 Mashable feature, the writer Justin Caffier described losing $475 to a fake-client scheme that exploited the pressure on new freelancers to build up the platform's "Job Success Score" rating. In June 2026, the Five Eyes intelligence alliance warned that Chinese state actors were using LinkedIn, Indeed and Upwork to pose as recruiters and target people with access to sensitive government information.

Working conditions

A 2023 Rest of World profile followed a South African copywriter who worked up to 20 hours per day across time zones to sustain her income on Upwork.

In March 2025, Inc. reported that a United States Department of Labor investigation into the data-labeling company Scale AI, which recruits contract workers through Upwork, had extended to Upwork and the staffing company HireArt. The investigation concerned alleged unpaid wages, worker misclassification and retaliation under the Fair Labor Standards Act.

Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗

Wikidata ↗

sectorIndustrials industryProfessional Services employees630 countryUS

10-Year Performance Revenue, net income, margins and EPS trends

06
Revenue$788M
2016-12-31 → 2025-12-31
EPS$0.84
2019-12-31 → 2025-12-31
Free Cash Flow$242M
2018-12-31 → 2025-12-31
Net margin12.9%
2018-12-31 → 2025-12-31
Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric 5Y trend UPWK 5Y avg Peer Median Verdict
P/E (TTM) 10.85Y avg ≈37.9 ≈37.9 20.5 Undervalued
P/S (TTM) 1.35Y avg ≈4.0 ≈4.0 0.7 Overvalued
P/B (MRQ) 1.75Y avg ≈7.2 ≈7.2 14.8 Undervalued
EV / EBITDA (TTM) 5.25Y avg ≈-43.5 ≈-43.5 23.7 Undervalued
Price / FCF (TTM) 5.15Y avg ≈162.5 ≈162.5 · ·
Price / Cash Flow (TTM) 5.05Y avg ≈143.5 ≈143.5 12.1 Fair value
EV / Revenue (TTM) 1.05Y avg ≈3.7 ≈3.7 · ·
EV / FCF (TTM) 3.85Y avg ≈153.3 ≈153.3 · ·
Price / Tangible Book (MRQ) 1.85Y avg ≈12.1 ≈12.1 · ·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

value · ≈ 5Y avg · industry median · verdict relative to median

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

14
Avg Surprise 22.1%
Next Report Nov 02, 2026
PeriodReportEPS ActualEPS EstSurprise
June 30, 2026 $0.41 $0.35 17.1%
March 31, 2026 $0.35 $0.28 25.6%
Dec. 31, 2025 $0.36 $0.32 13.1%
Sept. 30, 2025 $0.36 $0.29 23.5%
June 30, 2025 $0.35 $0.28 24.2%
March 31, 2025 $0.34 $0.26 28.7%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

15
Income Statement 18
Metric Trend 202520242023202220212020201920182017
Revenue $788M$769M$689M$618M$503M$374M$301M$253M$203M
Cost of Revenue $175M$174M$170M$160M$136M$104M$88M$81M$65M
Gross Profit $613M$595M$519M$458M$367M$269M$212M$172M$137M
R&D Expense $186M$209M$177M$155M$119M$83M$64M$55M$46M
SG&A Expense $147M$129M$119M$124M$113M$72M$67M$49M$37M
Operating Expenses $484M$530M$530M$551M$422M$292M$231M$184M$140M
Operating Income $129M$65M$-11M$-93M$-54M$-22M$-19M$-12M$-3M
Interest Expense ···$4M$2M$778.0K$1M$2M$960.0K
Interest Income $27M$28M$24M$8M·····
Other Non-op $24M$25M$60M$3M$-2M$469.0K$3M$-6M$-62.0K
Pretax Income $153M$90M$49M$-89M$-56M$-23M$-17M$-20M$-4M
Income Tax $38M$-125M$2M$536.0K$122.0K$150.0K$28.0K$15.0K$-22.0K
Net Income $115M$216M$47M$-90M$-56M$-23M$-17M$-20M$-4M
EPS (Basic) $0.87$1.61$0.35$-0.69$-0.44$-0.19$-0.15··
EPS (Diluted) $0.84$1.52$0.06$-0.69$-0.44$-0.19$-0.15··
Shares (Basic) 132,485,000133,621,000134,774,000130,518,000127,164,000118,699,000109,815,000··
Shares (Diluted) 140,660,000143,152,000137,263,000130,518,000127,164,000118,699,000109,815,000··
EBITDA $155M$80M$-11M$-93M$-54M$-22M$-19M$-12M·
Balance Sheet 26
Metric Trend 202520242023202220212020201920182017
Cash & Equivalents $294M$306M$80M$129M$187M$94M$48M$129M$22M
Short-term Investments $378M$316M$470M$557M$498M$76M$85M$0·
Receivables $76M$75M$103M$65M$67M$47M$30M$22M$31M
Prepaid Expense $21M$18M$18M$18M$17M$9M$8M$6M$5M
Current Assets $951M$911M$883M$931M$930M$361M$281M$256M$144M
PP&E (Net) $44M$30M$27M$22M$21M$28M$21M$11M$4M
PP&E (Gross) $100M$74M$68M$55M$46M$44M$29M$18M$11M
Accum. Depreciation $56M$44M$41M$33M$25M$15M$8M$7M$8M
Goodwill $149M$121M$118M$118M$118M$118M$118M$118M$118M
Intangibles $37M$13M$3M$0$0$667.0K$3M$6M$9M
Other Non-current Assets $1M$2M$1M$1M$1M$2M$829.0K$653.0K$658.0K
Total Assets $1.30B$1.21B$1.04B$1.08B$1.08B$529M$446M$392M$275M
Accounts Payable $8M$6M$5M$8M$5M$6M$652.0K$2M$462.0K
Current Liabilities $650M$268M$293M$248M$234M$199M$149M$128M$115M
Capital Leases $10M$10M$6M$11M$17M$21M$21M··
Other Non-current Liabilities $9M$308.0K$1M$8M$10M$8M$6M$2M$2M
Total Liabilities $669M$636M$656M$831M$822M$230M$187M$148M$140M
Long-term Debt $360M$358M··$561M$11M$18M$24M$34M
Total Debt $360M$358M$356M$564M$561M$11M$18M$24M·
Common Stock $13.0K$14.0K$14.0K$13.0K$13.0K$12.0K$11.0K$11.0K$3.0K
Retained Earnings $37M$-78M$-294M$-341M$-251M$-195M$-172M$-143M$-124M
Treasury Stock ··$0······
AOCI $754.0K$264.0K$205.0K$-3M$-528.0K····
Stockholders' Equity $630M$575M$381M$249M$260M$299M$259M$244M$-31M
Liabilities + Equity $1.30B$1.21B$1.04B$1.08B$1.08B$529M$446M$392M$275M
Shares Outstanding 130,545,236135,348,453137,272,754132,368,265129,130,478124,795,222113,604,398106,454,32133,740,323
Cash Flow 15
Metric Trend 202520242023202220212020201920182017
D&A $26M$15M$9M$8M·····
Stock-based Comp $65M$68M$74M$76M$54M$26M$19M$10M$7M
Deferred Tax $18M$-129M$0$0$0$0$0$0$0
Amort. of Intangibles $9M$2M$0$0$700.0K$3M$3M$3M$3M
Other Non-cash $23M$-16M·······
Operating Cash Flow $248M$154M$53M$11M$11M$22M$1M$14M$-4M
CapEx $6M$4M$692.0K$1M$1M$6M$11M$3M$2M
Investing Cash Flow $-137M$138M$88M$-69M$-429M$-4M$-101M$-7M$-2M
Stock Repurchased $136M$100M$0$0·····
Net Stock Activity $-136M$-100M·······
Financing Cash Flow $-138M$-82M$-140M$1M$538M$55M$29M$112M$28M
Net Change in Cash $-27M$209M$1M$-57M$120M$73M$-70M$119M$21M
Taxes Paid $13M$5M$2M······
Free Cash Flow $242M$150M$27M$5M$10M$16M$-10M$11M·
Levered FCF ···$801.1K$8M$15M$-11M$9M·
Profitability 8
Metric Trend 202520242023202220212020201920182017
Gross Margin 77.8%77.4%75.3%74.1%73.0%72.1%70.7%67.8%·
Operating Margin 16.4%8.5%-1.6%-15.0%-10.8%-6.0%-6.2%-4.6%·
Net Margin 14.6%28.0%6.8%-14.5%-11.2%-6.1%-5.5%-7.9%·
Pretax Margin 19.4%11.8%7.1%-14.4%-11.2%-6.1%-5.5%-7.8%·
EBITDA Margin 19.7%10.4%-1.6%-15.0%-10.8%-6.0%-6.2%-4.6%·
ROA 9.2%19.2%4.4%-8.3%-7.0%-4.7%-4.0%-6.0%·
ROE 18.6%43.7%13.0%-36.6%-21.4%-7.9%-6.6%-18.9%·
ROIC 9.8%16.7%-1.5%-11.5%-6.6%-7.3%-6.8%-4.4%·
Liquidity & Solvency 5
Metric Trend 202520242023202220212020201920182017
Current Ratio 1.53.43.03.84.01.81.92.0·
Quick Ratio 1.22.62.23.03.21.11.11.2·
Debt / Equity 0.60.60.92.32.20.00.10.1·
LT Debt / Equity 0.00.60.92.32.20.00.00.1·
Interest Coverage ···-20.7-24.9-28.8-14.3-5.7·
Efficiency 2
Metric Trend 202520242023202220212020201920182017
Asset Turnover 0.60.70.70.60.60.80.70.8·
Receivables Turnover 10.48.68.29.48.89.711.99.5·
Per Share 5
Metric Trend 202520242023202220212020201920182017
Book Value / Share $4.83$4.25$2.78$1.88$2.01$2.40$2.28··
Revenue / Share $5.60$5.37$5.02$4.74$3.95····
Cash Flow / Share $1.76$1.07$0.20$0.05$0.09····
Cash / Share $2.25$2.26$0.58$0.98$1.45$0.75$0.43··
EPS (TTM) $0.84$1.52$0.06$-0.69$-0.44$-0.19$-0.15··
Growth Rates 5
Metric Trend 202520242023202220212020201920182017
Revenue YoY 2.4%11.6%11.5%23.0%34.6%····
Revenue CAGR 3Y 8.4%15.2%22.6%······
Revenue CAGR 5Y 16.1%········
EPS YoY -44.7%2433.3%·······
Net Income YoY -46.5%359.8%·······
Valuation (TTM) 14
Metric Trend 202520242023202220212020201920182017
Revenue TTM $788M$769M$689M$618M$503M$374M$301M$253M·
Net Income TTM $115M$216M$47M$-90M$-56M$-23M$-17M$-20M·
Market Cap $2.59B$2.21B$2.04B$1.38B$4.41B$4.31B$1.21B··
Enterprise Value $2.27B$1.95B$1.85B$1.26B$4.29B$4.15B$1.10B··
P/E 23.610.8247.8-15.1-77.6-181.7-71.1··
P/S 3.32.93.02.28.811.54.0··
P/B 4.13.85.45.617.014.44.7··
P / Tangible Book 5.85.07.910.631.223.9···
P / Cash Flow 10.414.475.0210.7407.1192.61145.7··
P / FCF 10.714.776.9260.2449.7268.5-125.0··
EV / EBITDA 14.724.4-164.1-13.6-79.1-185.2-58.5··
EV / FCF 9.413.069.6237.2437.1258.6-113.1··
EV / Revenue 2.92.52.72.08.511.13.6··
Earnings Yield 4.2%9.3%0.40%-6.6%-1.3%-0.55%-1.4%··

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

16
Metric 2025-12-312024-12-312023-12-312022-12-312021-12-31
Revenue $788M $769M $689M $618M $503M
Gross Margin % 77.8% 77.4% 75.3% 74.1% 73.0%
Operating Margin % 16.4% 8.5% -1.6% -15.0% -10.8%
Net Income $115M $216M $47M $-90M $-56M
Diluted EPS $0.84 $1.52 $0.06 $-0.69 $-0.44

Institutional owners (13F) 332 filers · $1.3B total · As of Sept. 30, 2026

17

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 332
Value held $1.3B
New positions 57
Exited positions 49
Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
57 (-9 vs prior Q) 49 (-6 vs prior Q) 118 (+2 vs prior Q) 95 (-1 vs prior Q) -8.6M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
VANGUARD GROUP INC $297,086,280 14,989,217 22.41% Shares
BlackRock, Inc. $161,011,284 19,259,723 12.15% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $66,033,508 7,898,745 4.98% Shares
Ancient Art, L.P. $60,430,511 7,228,530 4.56% Shares
VANGUARD CAPITAL MANAGEMENT LLC $44,423,092 5,313,767 3.35% Shares
STATE STREET CORP $43,432,365 5,195,259 3.28% Shares
Capital International Investors $40,609,636 4,857,612 3.06% Shares
DIMENSIONAL FUND ADVISORS LP $39,655,475 4,743,484 2.99% Shares
GOLDMAN SACHS GROUP INC $35,699,307 4,270,252 2.69% Shares
GEODE CAPITAL MANAGEMENT, LLC $27,208,217 3,253,955 2.05% Shares
RICE HALL JAMES & ASSOCIATES, LLC $23,214,090 2,776,805 1.75% Shares
MORGAN STANLEY $20,598,762 2,463,966 1.55% Shares
Invenomic Capital Management LP $20,121,868 2,406,922 1.52% Shares
UBS Group AG $17,914,192 2,142,846 1.35% Shares
MILLENNIUM MANAGEMENT LLC $15,494,825 1,853,448 1.17% Shares
RENAISSANCE TECHNOLOGIES LLC $14,053,327 1,681,020 1.06% Shares
CITADEL ADVISORS LLC $13,840,966 1,655,618 1.04% Shares
JUPITER ASSET MANAGEMENT LTD $13,200,081 1,578,957 1.00% Shares
TWO SIGMA INVESTMENTS, LP $12,535,628 1,499,477 0.95% Shares
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP $12,387,756 1,481,789 0.93% Shares
AMERICAN CENTURY COMPANIES INC $10,933,409 1,307,824 0.82% Shares
NORTHERN TRUST CORP $10,618,102 1,270,108 0.80% Shares
Cubist Systematic Strategies, LLC $9,881,908 532,144 0.75% Shares
PRINCIPAL FINANCIAL GROUP INC $9,357,824 1,119,357 0.71% Shares
Kent Lake PR LLC $9,285,000 500,000 0.70% Shares
AQR CAPITAL MANAGEMENT LLC $9,057,851 1,083,475 0.68% Shares
ROYCE & ASSOCIATES LP $9,001,120 1,076,689 0.68% Shares
OP Asset Management Ltd $8,196,654 980,461 0.62% Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $7,875,463 942,041 0.59% Shares
VANGUARD FIDUCIARY TRUST CO $6,986,210 835,671 0.53% Shares
Squarepoint Ops LLC $6,163,276 737,234 0.46% Shares
Bank of New York Mellon Corp $6,156,278 736,397 0.46% Shares
JPMORGAN CHASE & CO $6,075,765 726,095 0.46% Shares
VICTORY CAPITAL MANAGEMENT INC $6,032,258 721,562 0.46% Shares
BANK OF AMERICA CORP /DE/ $5,886,133 704,083 0.44% Shares
Fiera Capital Corp $5,884,863 703,931 0.44% Shares
FMR LLC $5,746,960 687,435 0.43% Shares
Man Group plc $5,259,978 629,184 0.40% Shares
ALLIANCEBERNSTEIN L.P. $5,067,312 462,346 0.38% Shares
Public Sector Pension Investment Board $4,945,542 591,572 0.37% Shares
AMERIPRISE FINANCIAL INC $4,800,364 574,206 0.36% Shares
FRANKLIN RESOURCES INC $4,719,471 564,530 0.36% Shares
BNP PARIBAS FINANCIAL MARKETS $4,680,496 559,868 0.35% Shares
Financial Gravity Wealth, Inc. $4,655,392 424,762 0.35% Shares
Hillsdale Investment Management Inc. $4,530,284 541,900 0.34% Shares
Invesco Ltd. $4,507,896 539,222 0.34% Shares
OneDigital Investment Advisors LLC $4,151,108 496,544 0.31% Shares
GOLDMAN SACHS GROUP INC $3,922,512 469,200 0.30% Put option
Robeco Institutional Asset Management B.V. $3,891,104 465,443 0.29% Shares
KESTREL INVESTMENT MANAGEMENT CORP $3,619,880 433,000 0.27% Shares

Show all 332 institutional owners →

Company insiders 26 insiders · 10 officers · 14 directors

19
Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Hayden Brown President & CEO Sept. 18, 2026 M 793,593 0 16 $-12,436,996
Erica Gessert Chief Financial Officer Sept. 18, 2026 M 373,586 0 9 $-1,510,226
Jeff Mccombs Chief Financial Officer Nov. 18, 2022 M 97,264 0 0 $0
Brian K Kinion Chief Financial Officer Feb. 29, 2020 M 4,806 0 0 $0
Anthony Ray Kappus GM & Chief Operating Officer Sept. 18, 2026 M 76,342 0 4 $-424,544
Sabrina Mekhalfa Chief Accounting Officer Sept. 18, 2026 M 6,675 0 3 $-39,619
Dave Bottoms GM, Marketplace March 18, 2026 M 2,678 0 10 $-1,174,647
Olivier Marie Chief Accounting Officer Aug. 19, 2025 S 748 0 0 $0
Eric Gilpin Chief Sales Officer Feb. 18, 2023 M 51,188 0 0 $0
Han-Shen Yuan SVP, Engineering Nov. 18, 2019 M 3,333 0 0 $0
Claire Bramley Director June 4, 2026 A 45,146 0 0 $0
Gary Steele Director June 4, 2026 A 112,216 0 1 $-218,875
Dana L Evan Director June 4, 2026 A 56,835 0 0 $0
Glenn Kelman Director June 4, 2026 A 66,422 0 0 $0
David H Lissy Director June 4, 2026 A 66,026 0 0 $0
Kevin Harvey Director June 4, 2026 A 147,216 0 0 $0
Thomas Layton Director June 4, 2026 A 52,296 0 0 $0
Leela Srinivasan Director June 6, 2025 S 79,469 0 0 $0
Anilu Vazquez-Ubarri Director June 5, 2025 A 83,968 0 0 $0
NELSON ELIZABETH A Director May 12, 2025 S 356,712 0 0 $0
Gregory C. Gretsch Director June 10, 2024 G 761,201 0 0 $0
Dan Marriott Director June 1, 2020 A 190,730 0 0 $0
Stephane Kasriel Director Feb. 29, 2020 M 281,567 0 0 $0
Steven M Spurlock 10% owner Aug. 19, 2019 S 0 0 0 $0
Bruce W. Dunlevie 10% owner Aug. 12, 2019 S 0 0 0 $0
SIGMA MANAGEMENT 6 LLC 10% owner Oct. 5, 2018 C 12,641,735 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 52 ETFs

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
RNIN · EA Series Trust 1.23% 245,427 NS July 31, 2026 N-PORT
CAFG · Pacer Funds Trust 0.37% 12,204 NS July 31, 2026 N-PORT
PSCI · Invesco Exchange-Traded Fund Trust … 0.34% 109,145 SH Oct. 2, 2026 Daily
HAPS · Harbor ETF Trust 0.27% 49,996 NS July 31, 2026 N-PORT
RZG · Invesco Exchange-Traded Fund Trust 0.21% 30,425 SH Oct. 2, 2026 Daily
CALF · Pacer Funds Trust 0.21% 851,117 NS July 31, 2026 N-PORT
VIOG · VANGUARD ADMIRAL FUNDS 0.11% 147,025 SH Aug. 19, 2026 Daily
NUSC · Nushares ETF Trust 0.08% 117,955 NS July 31, 2026 N-PORT
VFMF · VANGUARD WELLINGTON FUND 0.08% 71,526 SH Aug. 19, 2026 Daily
QVMS · Invesco Exchange-Traded Fund Trust … 0.07% 20,428 SH Oct. 2, 2026 Daily
PRFZ · Invesco Exchange-Traded Fund Trust 0.07% 213,376 SH Oct. 2, 2026 Daily
VIOO · VANGUARD ADMIRAL FUNDS 0.06% 430,566 SH Aug. 19, 2026 Daily
RWJ · Invesco Exchange-Traded Fund Trust … 0.05% 121,207 SH Oct. 2, 2026 Daily
ESML · iShares Trust 0.05% 168,989 SH Sept. 11, 2026 Daily
DFSV · Dimensional ETF Trust 0.05% 453,785 NS July 31, 2026 N-PORT
VTWV · VANGUARD SCOTTSDALE FUNDS 0.05% 75,976 SH Aug. 19, 2026 Daily
DFAT · Dimensional ETF Trust 0.04% 661,257 NS July 31, 2026 N-PORT
BBSC · J.P. Morgan Exchange-Traded Fund Tr… 0.04% 29,493 NS July 31, 2026 N-PORT
RSSL · Global X Funds 0.04% 57,679 NS July 31, 2026 N-PORT
IWM · iShares Trust 0.03% 3,100,256 SH Sept. 11, 2026 Daily
VBK · VANGUARD INDEX FUNDS 0.03% 1,543,614 SH Aug. 19, 2026 Daily
VTWO · VANGUARD SCOTTSDALE FUNDS 0.03% 693,268 SH Aug. 19, 2026 Daily
PKW · Invesco Exchange-Traded Fund Trust 0.03% 58,258 SH Oct. 2, 2026 Daily
DXUV · Dimensional ETF Trust 0.02% 12,311 NS July 31, 2026 N-PORT
VTWG · VANGUARD SCOTTSDALE FUNDS 0.02% 35,756 SH Aug. 19, 2026 Daily
IWO · iShares Trust 0.02% 311,110 SH Sept. 11, 2026 Daily
FIDU · FIDELITY COVINGTON TRUST 0.02% 40,607 NS July 31, 2026 N-PORT
DFAS · Dimensional ETF Trust 0.01% 180,866 NS July 31, 2026 N-PORT
VXF · VANGUARD INDEX FUNDS 0.01% 1,419,310 SH Aug. 19, 2026 Daily
VB · VANGUARD INDEX FUNDS 0.01% 2,683,985 SH Aug. 19, 2026 Daily
VIS · VANGUARD WORLD FUND 0.01% 151,461 SH Aug. 19, 2026 Daily
WSML · iShares Trust 0.01% 7,676 SH Sept. 11, 2026 Daily
OMFS · Invesco Exchange-Traded Self-Indexe… 0.01% 2,855 SH Oct. 2, 2026 Daily
DFSU · Dimensional ETF Trust 0.01% 18,588 NS July 31, 2026 N-PORT
DFUV · Dimensional ETF Trust 0.01% 99,604 NS July 31, 2026 N-PORT
DFAC · Dimensional ETF Trust 0.01% 267,983 NS July 31, 2026 N-PORT
TILT · FlexShares Trust 0.00% 9,322 NS July 31, 2026 N-PORT
DFAU · Dimensional ETF Trust 0.00% 25,464 NS July 31, 2026 N-PORT
ITOT · iShares Trust 0.00% 172,706 SH Sept. 11, 2026 Daily
IWV · iShares Trust 0.00% 31,274 SH Sept. 8, 2026 Daily
DFUS · Dimensional ETF Trust 0.00% 18,181 NS July 31, 2026 N-PORT
VTI · VANGUARD INDEX FUNDS 0.00% 3,687,208 SH Aug. 19, 2026 Daily
VT · VANGUARD INTERNATIONAL EQUITY INDEX… 0.00% 86,964 SH Aug. 19, 2026 Daily
VTHR · VANGUARD SCOTTSDALE FUNDS 0.00% 10,134 SH Aug. 19, 2026 Daily
ESGV · VANGUARD WORLD FUND 0.00% 26,480 SH Aug. 19, 2026 Daily
IJR · iShares Trust · 7,527,470 SH Sept. 10, 2026 Daily
IJT · iShares Trust · 1,171,314 SH Sept. 9, 2026 Daily
IWN · iShares Trust · 823,992 SH Sept. 11, 2026 Daily
XJR · iShares Trust · 17,033 SH Aug. 31, 2026 Daily
ISCB · iShares Trust · 4,804 SH Sept. 11, 2026 Daily
ISCV · iShares Trust · 23,795 SH Sept. 11, 2026 Daily
SMLF · iShares Trust · 239,015 SH Sept. 11, 2026 Daily

UPWK Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21
rating · 17 analysts BUY
Median target $9.00 +8.4%
3 17.6% Strong Buy
5 29.4% Buy
9 52.9% Hold
0 0.0% Sell
0 0.0% Strong Sell

12-Month Price Target

8 analysts · 2026-10-02

Mean target $9.88 +18.9%

Now Current price $8.30
Low$8.00 Mean$9.88 High$14.00

Peer comparison (GICS sub-industry) Key metrics vs sector peers

22

FY basis, prices as of each company's last fiscal year-end close.

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
UPWK $2.59B 23.6 2.4% 14.6% 18.6% 77.8%
TNET $2.80B 18.5 -0.85% 3.1% 192.6% ·
MAN · -102.5 0.58% -0.07% -0.64% 16.7%
NSP $1.46B -203.8 3.5% -0.10% -8.9% 13.2%
KFRC · 15.8 -5.4% 2.6% 26.9% 27.2%
BBSI $912M 17.4 8.4% 4.4% 23.3% 21.0%
KELYA · -1.2 -1.9% -6.0% -23.0% 20.1%
TBI $139M -2.9 3.1% -3.0% -16.3% 22.8%
HQI · 23.4 -11.4% 20.7% 9.4% ·
ADP $89.09B 20.5 6.7% 20.1% 71.0% ·

Latest News Recent headlines mentioning this company

23

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Source: SEC 10-Q filed Aug 10, 2026