Professional
Added to YB: 2025-02-17
Pitch date: 2025-02-13
UPWK [neutral]
Upwork Inc.
+33.15%
current return
Author Info
Pernas Research is a former CIO of a $3.5B fund that now share actionable stock research. Sign up for the newsletter.
Company Info
Upwork Inc., together with its subsidiaries, operates a work marketplace that connects businesses with various independent professionals and agencies in the United States, India, the Philippines, and internationally.
Market Cap
$2.2B
Pitch Price
$16.48
Price Target
N/A
Dividend
N/A
EV/EBITDA
12.43
P/E
9.49
EV/Sales
2.41
Sector
Professional Services
Category
N/A
Pernas Research: Sell Update – Upwork (NAS:UPWK)
UPWK sold position: +66% since initiation. 2024: Rev $769M (+12% YoY), Adj EBITDA $168M (+129%), FCF $122M (+212%). 2025 guidance: flat rev growth. Thesis on monetization played out, but GSV growth slower than expected. Selling at fair value due to lack of confidence in GSV growth.
Read full article (2 min)