Get started

UPWK

Upwork's Outlook: Jefferies Upgrade Signals Bullish Trends Upwork (NASDAQ: NASDAQ:UPWK ) has emerged as a standout stock, gaining significant traction in the market after a noteworthy upgrade from Jefferies, shifting its rating from Hold to Buy. This upgrade has sparked a 10% surge in Upwork's stock value. Accelerated Revenue Growth in 2024: The driving force behind Jefferies' bullish stance on Upwork lies in the anticipation of accelerated revenue growth throughout 2024. Analysts are optimistic about the company's prospects as the global economy stabilizes, and business confidence experiences an upswing. Upwork's unique position in the market as a platform connecting skilled workers with employers aligns seamlessly with the ongoing trend towards remote and flexible work arrangements. A Leader in the Shifting Labor Landscape: Upwork has positioned itself as a leader in the evolving landscape of labor, where remote and highly skilled talent is becoming increasingly sought after. The company's AI/ML-enhanced B2B marketplace is at the forefront of this transformation, capitalizing on the secular shift towards a more flexible and remote workforce. As businesses adapt to the changing dynamics of work, Upwork stands as a pivotal player facilitating connections between employers and talent in a seamless and efficient manner. Price Target Raised: A Positive Signal for Investors The Jefferies upgrade not only included a shift in rating but also an upward adjustment of the price target for Upwork shares. Analysts have raised the target to $20 from $13, signifying a strong vote of confidence in the company's potential for growth. This new target suggests a substantial upside for investors, underlining the belief that Upwork is poised for a significant expansion in the coming months. Top Small-Cap Recovery Play: Jefferies analysts have designated NASDAQ:UPWK as a "top small-cap recovery play," emphasizing the unique position the company holds in the market. As the global economy rebounds and businesses seek agile and remote workforce solutions, Upwork is well-positioned to capitalize on these trends, potentially delivering substantial returns for investors. Technical Analysis Signals Positive Momentum: The technical analysis further supports the bullish sentiment surrounding Upwork's stock. The stock is currently within an approximate horizontal trend channel in the medium long term, indicating investor uncertainty and a wait-and-see approach. However, the emergence of an inverse head and shoulders formation suggests a potential upward breakout. A decisive break of the resistance at $16.24, especially accompanied by increased volume, could signal a further rise in Upwork's stock value. Conclusion: Upwork's recent surge following the Jefferies upgrade paints a promising picture for investors looking to capitalize on the evolving landscape of remote and flexible work. As the economy stabilizes, Upwork's stock may well be on the cusp of delivering substantial returns for savvy investors.
NASDAQ:UPWKLong
by DEXWireNews
🚀📊 Upwork (UPWK) Analysis: Surge in AI Job PostsKey Highlights: Significant Growth in AI Job Posts: Upwork experienced a remarkable 1,000% increase in generative AI job posts during Q2 and Q3 of 2023. High Demand for AI Skills: Searches for generative AI skills surged by 1,500% during the same period, indicating a substantial demand for AI-related expertise. Strategic Collaboration with OpenAI: Upwork's collaboration with OpenAI further strengthens its position in the evolving workforce landscape. Bullish Sentiment: The overall sentiment towards UPWK is bullish, reflecting the positive market outlook for the platform. Technical Analysis: Support Level: The analysis suggests a support level above $13.00-$13.50, indicating a potential floor for price movements. Upside Target: The upside target is set in the range of $22.00-$23.00, reflecting optimistic expectations for Upwork's performance. #Upwork #UPWK #AI #Freelance #WorkMarketplace #StockAnalysis #Investing
NASDAQ:UPWKLong
by Richtv_official
Upwork price weakness could be a gift for its 5 year growth Upwork is at fair value now, cheap for next year, and potential could grow to a 50-100$ stock over 5 years. Upwork is a freelancer marketplace and recently partnered with Open ai (chat GPT) to provide enterprises access to ai freelance experts and learning. Better value then megacaps: Upwork roughly has a earnings yield of 3% plus for this year 2023, which is not over yet but coming to a close. This price to earnings of 31 is similar to the megacap stocks like Apple, Microsoft, Google, and Facebook. Thats a high PE for any business, and usually inplies a high growth rate in order to command that premium valuation. Upwork, however, isnt a megacap, has more room to rise, and has a higher growth rate potentially than the megacaps. Next year 2024: Next year Upwork is expected to earn 64 cents per share, almost doubling its earnings from this years .37 cents. Using a multiple PE of 25 could land the stock in the 16 dollar range or higher. 25% a year growth in earnings could also command a higher premium if investors anticipate continued year over year growth in the future. 5 year growth potential: Through 2028, over the next 5 years, analysts believe the stock could grow to 1.90 per share (earnings expectations pulled from seekingalpha). Using the same 25 multiple x the 1.90, we estimate a potential valuation of 47.50 for 2028. As we see today many stocks trading at twice the growth rate for PE multiple, and in order to motivate long term investing, we can estimate a 2x growth rate multiple of 95 potential for 2028. In good times, growth stocks commonly trade at 2x multiple for their growth rates in anticipation of further growth in coming years. So now we have 47.50 and 95 as a potential 5 year upside price. Low debt and already free cashflow positive: Many growth or speculative stocks arent even profitable or require too much capital as they scale. Upwork doesnt have that problem, they are already free cashflow positive and have low debt. 8 to 10 price possible in weakness: Based on its price action this year, and with the help of a weak broad market, it wouldnt surprise me to see upwk fall back to the 10 level or even lower to the 8 price in a major sell off. In that event, the earnings yield on UPWK could go from the 3% range to potentially a near 5% earnings yield for this year 2023. A high 4% or near 5% earnings yield would be very interesting for a stock with 20-25% annual growth potential. The compounding of growth at that price entry would be attractive. Summary: Upwork has major growth potential over next 5 years, so keep track of it in case of weakness in the broad market. 50 to 100 in 5 years is possible, so the more it falls now could help open a discount to future value. Hope for a sell off in the 8-10 range.
NASDAQ:UPWK
by optionfarmers
UPWK Entering Phase E Markup On Shorter TimeframeWyckoff Accumulation Schematic #1 almost complete on a short term timeframe. Longer term.. Risk is 10%, reward is 120-200%. Stop loss and invalidation are clearly outlined (at 10% below current price.) Stock has formed a technical double bottom (textbook) over the last 4 months, and completed this formation with strong support yesterday. Stock has inverse correlation with most equities (think covid darlings that spiked in times of turmoil). Stock is strongly correlated with unemployment rates. Rising interest rates tighten credit conditions , revenues should slow.. increasing unemployment. The whole point of all of this is to only slow interest rate hikes when the market shows it's responding to high interest rates. This is evident through unemployment statistics, and inflation growth. We look to inflation to suggest that interest rate hikes are having an impact, we look to unemployment to confirm it. Higher unemployment is coming, which means objective upward pressure for this stock. Company is buying back debt from convertible notes it has issued, reducing it's overall debt obligation by around 30% (press release yesterday). A reputable firm analyzed the stock the other day, and placed a 100% price target based on competition and all known pressures on the stock being "well discounted, and well priced in". Company is increasing their prices as of today by 50% on their most expensive products, and dropping their prices 50% on their cheapest products. Company has an analyst consensus (average of all) of 62% increase in price from current price. Stock is down 83% since it's last high, 512 days ago. Company has surprised revenue expectations for the last 8 consecutive quarters. Stock has created bullish divergence on the RSI (relative strength index) on long term timeframes , indicating that buyers stepped in to support price in this range 3-4 months ago. Company is reaching the end of a technical pennant by May 11 2023, and will have a substantial increase in volatility before that time. The pennant is building pressure, consolidating price within a range and coiling the shorter term moving averages, building momentum for a technical breakout. Upwork isn't going anywhere. Buy. DYOR.
NASDAQ:UPWKLong
by sengleadevelopment
$UPWK $AAL $MU $UBER I OptionsSwing WatchlistUPWK 1W I UPWK massive ascending triangle on the weekly chart. After reporting earnings it came down to test our trend and this seems like a great entry to go long. MU 1D I Micron is uniquely positions to speed up 5G across all parts of the spectrum. MU is currently breaking out from the bull flag we highlighted last week. AAL 4H I AAL is showing us another entry to go long here. Setting a stop below $19.50. Looks like $20 will hold and it would be great to start seeing higher lows. UBER 2H I UBER retested the breakout from the bullflag and it is now making a double bottom near $43. We have resistance near $46 and $48, and support near $44.
NASDAQ:MULong
by optionsswing
IWM: Breakout or RejectionIf anyone has placed their position in IWM few days ago when I wrote my analysis on IWM, please be careful with tomorrow's small caps market as IWM has reached to the crucial pivotal resistance point, either they could breakout and all small caps stocks will continue to rally OR a strong rejection to downside. Small caps stocks like DKNG, PENN, AMC, CROX, UPWK, NVTA, APPS, M, FUBO will be affected accordingly. Plus, Jerome Powell will be speaking tomorrow at Jackson hole. Be mindful.
AMEX:IWM
by yflaw1018
Upwork $UPWK is trying to follow through NASDAQ:UPWK is in a clear uptrend and last week made a good breakout from a large base in which I took a position. On the last 10 trading days, the tech stock has 5 days up and 5 days down. Is a little unclear for me if it can hold gains so, my stop is at breakeven. I have a price target of $62.18, but if it continues to move up strong enough I'll sell have my position and hold the other half. This stock has strong revenue growth and very good relative strength against it sector. NASDAQ:GIGE is an ETF concentrated in global companies that directly participate in revenue generation from “gig economy” such as: web-based stores, auction sites and app-based platforms. Some of its holdings are NYSE:SHOP , NYSE:TWTR , NASDAQ:TWOU , among others.
NASDAQ:UPWKLong
by dpuleo19