Upwork (UPWK)

• Market cap: $2.14B
• 1 day: -5.15%
• 5 days: 0.19%
• 1 month: -3.26%
• 3 months: 59.40%
• 6 months: 38.82%
• Year to date: -2.38%
• 1 year: 6.37%
• 5 years: 60.52%
• 10 years: -24.36%
• 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

0.79% less ownership

Funds ownership: 79.05% [Q2] → 78.26% (-0.79%) [Q3]

4% less capital invested

Capital invested by funds: $1.13B [Q2] → $1.08B (-$46.5M) [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

38% less first-time investments, than exits

New positions opened: 40 | Existing positions closed: 64

Research analyst outlook

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

• Low target: $16 0% upside
• Avg. target: $18.80 17% upside
• High target: $24 50% upside

10 analyst ratings

• positive: 8 80%
• neutral: 2 20%
• negative: 0 0%

Needham Bernie McTernan 68% 1-year accuracy 90 / 132 met price target	6% upside $17	Buy Reiterated	17 Jan 2025
Jefferies Brent Thill 65% 1-year accuracy 36 / 55 met price target	25% upside $20	Buy Maintained	6 Jan 2025
UBS Kunal Madhukar 67% 1-year accuracy 2 / 3 met price target	12% upside $18	Neutral Maintained	4 Dec 2024
Citigroup Ronald Josey 73% 1-year accuracy 37 / 51 met price target	19% upside $19	Neutral Maintained	29 Nov 2024
BTIG Marvin Fong 64% 1-year accuracy 9 / 14 met price target	0% downside $16	Buy Maintained	7 Nov 2024