Upwork (UPWK)

• Market cap: $1.79B
• 1 day: 2.88%
• 5 days: 3.85%
• 1 month: -4.28%
• 3 months: -15.86%
• 6 months: 3.77%
• Year to date: -19.50%
• 1 year: 16.18%
• 5 years: 74.74%
• 10 years: -37.63%
• Sector: Communication Services
• Industry: Internet Content & Information

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 disclosures by fund managers ($100M+ AUM)

129% more first-time investments, than exits

New positions opened: 64 | Existing positions closed: 28

80% more funds holding in top 10

Funds holding in top 10: 5 [Q3] → 9 (+4) [Q4]

65% more capital invested

Capital invested by funds: $1.08B [Q3] → $1.79B (+$702M) [Q4]

28% more call options, than puts

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

14% more funds holding

Funds holding: 218 [Q3] → 249 (+31) [Q4]

3.13% more ownership

Funds ownership: 78.61% [Q3] → 81.74% (+3.13%) [Q4]

5% more repeat investments, than reductions

Existing positions increased: 80 | Existing positions reduced: 76

Research analyst outlook

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

• Low target: $15 14% upside
• Avg. target: $18.25 38% upside
• High target: $20 51% upside

8 analyst ratings

• positive: 5 63%
• neutral: 3 38%
• negative: 0 0%

Jefferies Brent Thill 25% 1-year accuracy 19 / 75 met price target	51% upside $20	Buy Maintained	7 Apr 2025
Scotiabank Nat Schindler 29% 1-year accuracy 5 / 17 met price target	14% upside $15	Sector Perform Initiated	12 Mar 2025
Citizens Capital Markets Andrew Boone 36% 1-year accuracy 32 / 90 met price target	36% upside $18	Market Outperform Reiterated	10 Mar 2025
Roth MKM Rohit Kulkarni 42% 1-year accuracy 14 / 33 met price target	44% upside $19	Buy Maintained	13 Feb 2025
RBC Capital Brad Erickson 38% 1-year accuracy 23 / 60 met price target	36% upside $18	Sector Perform Maintained	13 Feb 2025