Upwork (UPWK)

• Market cap: $2.2B
• 1 day: 1.23%
• 5 days: -1.67%
• 1 month: 9.82%
• 3 months: 53.50%
• 6 months: 62.45%
• Year to date: 14.64%
• 1 year: 11.91%
• 5 years: 55.09%
• 10 years: -22.38%
• Sector: Information Technology
• Industry: Computer Processing & Data Preparation

About: Upwork Inc is a United States-based company that operates an online marketplace that enables businesses to find and work with skilled independent professionals. The company develops platform for hiring and freelancing purposes. Its products offering include Upwork Basic, Upwork Plus, Upwork Business, Upwork Enterprise, and Upwork Payroll. The business generates revenue from Talent and Clients across the USA, India, the Philippines and the rest of the world. Substantial income is derived from providing services to clients.

Employees: 800

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

25% more funds holding in top 10

Funds holding in top 10: 4 [Q2] → 5 (+1) [Q3]

16% more call options, than puts

Call options by funds: $21.5M | Put options by funds: $18.6M

0.74% less ownership

Funds ownership: 78.74% [Q2] → 78.0% (-0.74%) [Q3]

4% less capital invested

Capital invested by funds: $1.12B [Q2] → $1.08B (-$45.7M) [Q3]

12% less funds holding

Funds holding: 246 [Q2] → 216 (-30) [Q3]

23% less repeat investments, than reductions

Existing positions increased: 65 | Existing positions reduced: 84

43% less first-time investments, than exits

New positions opened: 40 | Existing positions closed: 70

Research analyst outlook

8 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $16 3% downside
• Avg. target: $18.88 15% upside
• High target: $24 46% upside

8 analyst ratings

• positive: 6 75%
• neutral: 2 25%
• negative: 0 0%

UBS Kunal Madhukar 67% 1-year accuracy 2 / 3 met price target	9% upside $18	Neutral Maintained	4 Dec 2024
Citigroup Ronald Josey 59% 1-year accuracy 29 / 49 met price target	16% upside $19	Neutral Maintained	29 Nov 2024
BTIG Marvin Fong 67% 1-year accuracy 10 / 15 met price target	3% downside $16	Buy Maintained	7 Nov 2024
Canaccord Genuity Maria Ripps 61% 1-year accuracy 17 / 28 met price target	9% upside $18	Buy Maintained	7 Nov 2024
JMP Securities Andrew Boone 73% 1-year accuracy 67 / 92 met price target	9% upside $18	Market Outperform Maintained	7 Nov 2024