Upwork (UPWK)

• Market cap: $2.12B
• 1 day: -6.74%
• 5 days: -5.22%
• 1 month: -2.43%
• 3 months: 1.63%
• 6 months: 61.13%
• Year to date: -4.75%
• 1 year: 20.14%
• 5 years: 71.95%
• 10 years: -26.20%
• 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: 600

Fund manager confidence

Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)

121% more first-time investments, than exits

New positions opened: 62 | Existing positions closed: 28

65% more capital invested

Capital invested by funds: $1.08B [Q3] → $1.78B (+$697M) [Q4]

60% more funds holding in top 10

Funds holding in top 10: 5 [Q3] → 8 (+3) [Q4]

28% more call options, than puts

Call options by funds: $47.6M | Put options by funds: $37.1M

13% more funds holding

Funds holding: 217 [Q3] → 245 (+28) [Q4]

2.95% more ownership

Funds ownership: 78.26% [Q3] → 81.22% (+2.95%) [Q4]

0% more repeat investments, than reductions

Existing positions increased: 77 | Existing positions reduced: 77

Research analyst outlook

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

• Low target: $18 15% upside
• Avg. target: $18.86 21% upside
• High target: $20 28% upside

7 analyst ratings

• positive: 4 57%
• neutral: 3 43%
• negative: 0 0%

Roth MKM Rohit Kulkarni 94% 1-year accuracy 30 / 32 met price target	22% upside $19	Buy Maintained	13 Feb 2025
RBC Capital Brad Erickson 83% 1-year accuracy 55 / 66 met price target	15% upside $18	Sector Perform Maintained	13 Feb 2025
UBS Kunal Madhukar 100% 1-year accuracy 2 / 2 met price target	22% upside $19	Neutral Maintained	13 Feb 2025
Needham Bernie McTernan 85% 1-year accuracy 115 / 136 met price target	22% upside $19	Buy Maintained	13 Feb 2025
JMP Securities Nicholas Jones 75% 1-year accuracy 60 / 80 met price target	15% upside $18	Market Outperform Reiterated	30 Jan 2025