In a report released today, Andrew Boone from JMP Securities maintained a Buy rating on Upwork (UPWK – Research Report), with a price target of $17.00. The company’s shares closed yesterday at $11.96.
According to TipRanks, Boone is a 4-star analyst with an average return of 5.3% and a 50.26% success rate. Boone covers the Communication Services sector, focusing on stocks such as DoorDash, Alphabet Class A, and Meta Platforms.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Upwork with a $19.00 average price target, which is a 58.86% upside from current levels. In a report released today, Goldman Sachs also reiterated a Buy rating on the stock with a $24.00 price target.
Based on Upwork’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $183.93 million and a net profit of $17.37 million. In comparison, last year the company earned a revenue of $161.44 million and had a GAAP net loss of $16.5 million
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Upwork (UPWK) Company Description:
Upwork, Inc. operates an online marketplace that enables businesses to find, hire, and pay freelancers for short-term and longer-term projects. It provides managed services and marketplace offerings such as Upwork Standard, Upwork Enterprise, and Upwork Payroll. The company was founded in December 2013 and is headquartered in Mountain View, CA.
