Act On Key Analyst Price Target Shifts: Forum Energy Technologies Inc. (FET), Upwork Inc. (UPWK)

You should consider shares of Forum Energy Technologies Inc. (NYSE:FET) and Upwork Inc. (NASDAQ:UPWK) if you are looking for a great stocks to invest in. Starting with the FET shares, which traded at $1.25 at the close of the recent session, dropping -1.57%. On Tuesday, the company’s shares shed -$0.02 from its value which represented in intraday trading. The stock is now -81.32% lower in year-to-date (YTD) trading. FET’s intraday high was $1.3013 while its lowest price touched $1.22. The stock’s 52-week high price is $7.00, which means the current price is at -82.14%. In terms of trading activity, the daily trading volume fell to 975610 against 200-day average trading volume of 1,107,273 shares.

What are analyst forecasts for Forum Energy Technologies Inc. (NYSE:FET)?

At a consensus rating of 3.20, FET is trending as a streaking Hold, as it has been the case a month ago when 11 analysts called it a Hold. Two months ago, 11 analysts recommended, on average, that FET stock is a Hold. The Basic Materials company’s shares’ overall bearish trend saw it close higher on Tuesday compared to its opening price of $1.26 on the day.

Forecasts for Forum Energy Technologies Inc. (NYSE:FET) give the stock a fair value for the growth of 37.5% from its last price. The 12-month price forecast for the stock by analysts puts the stock’s mean price target at $2.00, which means the price per share could rise by nearly $0.75. The price range target is between a low of $1.00 and a high of $3.00. The stock would need to gain by about $58.33 to hit the estimated high or 0.7% from its 12-month low.

The consensus among 14 analysts is that it is a good time for one to Hold in the Forum Energy Technologies Inc. 3 analysts rate FET as a Buy, with 0 of 14 analysts rate it as a Sell. 1 have valued the stock as Overweight and 10 have recommended that investors Hold.

Forum Energy Technologies Inc. (NYSE:FET) Upgrades and Downgrades

In terms of rating changes, Citigroup on September 30, 2019, Downgrade Forum Energy Technologies Inc. (FET) at Neutral. Analysts at Gabelli & Co have assigned a Hold rating for the stock in their research note on July 29, 2019. Moreover, BofA/Merrill analysts issued a rating of Neutral for the stock on June 25, 2019, giving it a price target of $3.50 for the next 12 months. On March 14, 2019, the stock earned a Buy rating due to an analyst call from Citigroup, while analysts from CapitalOne on January 16, 2019 suggested that the stock is Equal Weight.

Upwork Inc. (NASDAQ:UPWK) adds $0.1 on Tuesday

The UPWK stock has tanked -37.77% year-to-date and is currently trading at $11.27, which is -54.92% below its 52-week high. The company shares gained 0.90% on the day and have risen nearly 2.36% off a low hit. At current levels, Upwork Inc. has a valuation of about $289.30M. As of 12/03/19, this stock has fallen -3.43% during the week and closed at $11.17 in the previous session. However, recent Upwork Inc. stock performance shows that UPWK shares are -25.90% down over the last month, and -20.75% down for the last three months.

Earnings per share (EPS) estimates for the current quarter are -$0.04, with the trailing 12-month share earnings at -$0.14. The ratio is expected to be up by 60.50% for the current year 2019 and 20.00% for next year. Over the next 5-year period, earnings per share will be -0.04%. But will the UPWK stock surprise in the current quarter results, where the -$0.03 actual EPS reported on 9/29/2019 surprised by 25.00% or was higher by $0.01 from the estimated -$0.04.

Sales Growth to climb 18.60% for the year

How well will Upwork Inc. perform as a business over the current quarter, year and next 5-year period? Compared to the year-ago quarter, analysts forecast the company to bring in between $79.3M and $79.5M in current quarter sales. The consensus estimated for the current quarter is $79.42M from sales. Forecasts for this fiscal year are between $301.29M and $301.5M and the consensus estimate for sales is at $301.38M. UPWK has its next quarter sales estimates at between $83M and $87M, with the quarter-over-quarter growth estimates at 21.80% and the annual growth forecast for the year at 18.60%.

Who owns shares in Upwork Inc. (UPWK)?

Let’s briefly focus on the share ownership of the Upwork Inc. (NASDAQ:UPWK) stock, where we find that 66.42% of shares are held by institutions. Goldfarb Andrew P tops the list of institutional owners as it is holding 7.05 million shares or 6.30% of shares outstanding. Vanguard Group, Inc. (The) and Franklin Resources, Inc held 6.23 million and 5.81 million representing 5.56% and 5.19% respectively at the close of the last trading session. As of Sep 29, 2019, Scopia Capital Management LP accounted for 4.38 million shares at over 58.29 million. This represented 3.91% of shares outstanding. Blackrock Inc. held 4.26 million shares at over 56.71 million representing 3.81% of shares outstanding.

UPWK Insider Activity

Insider activity can also give a signal in terms of price direction. Looking at Upwork Inc. (UPWK), a total of 2358943 shares have been sold by insiders over the last 6 months while 970822 shares were added in the same time span. On 8/09/2019, Director by the name Stripes Group Llc sold 1.2 million shares worth $18.1 million at the price of $15.06 per share. Filings also show that Kasriel Stephane sold a total of 209863.0 shares on 5/10/2019 valued at $3.4 million. Since the last insider activity, the company’s share price has dropped -33.31%.